HLIB lifts Hibiscus target price to RM2.83
KUALA LUMPUR: Hong Leong Investment Bank Bhd (HLIB) maintained its “Buy” call on Hibiscus Petroleum Bhd while raising its sum-of-the-parts-based target price to RM2.83 from RM2.74.
Hong Leong Investment Bank (HLIB) has raised its target price for Hibiscus Petroleum Bhd to RM2.83 from RM2.74, maintaining its Buy recommendation on the company. HLIB also increased its FY27 earnings forecast by 14.7 per cent but cut its FY28 forecast by 3.2 per cent, citing higher production volumes and a revised ringgit-US dollar assumption.
The bank expects Hibiscus' earnings to soften in Q1 FY27 due to a 10 per cent moderation in crude oil prices, but anticipates stronger performance for the full year thanks to higher production and sales volumes.
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