Analysts positive on Guan Chong's growth prospects following Ivory Coast acquisition

Quick Summary:

KUALA LUMPUR: Guan Chong Bhd's shares rose in early trade Tuesday after the company announced plans to acquire a 25% stake in Transcao Côte d'Ivoire, a cocoa processing firm based in Ivory Coast.

Further upside could stem from production growth in its Ivory Coast (tax-free) and UK plants, as well as the new proposed JV with CCC,” it said.

RHB has maintained its forecast and target price of RM5.10, pegged to an unchanged 15x P/E (5-year mean) on par with the consumer product index, and inclusive of a 0% ESG premium/discount.

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Article Details

Category: EconomyBusiness

Markets: MalaysiaChinaIvory CoastSingapore

Topics: Cocoa /Business/Business News Analyst Reports Guan Chong

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-10 @ 09:49:00 (8 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 507 words

Reading Time: 3 minutes read

Sentences: 16 lines

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Copyright Owner: © The Star

News ID: 22973455

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