CCK Consolidated Holdings Berhad - Aligned with expectations
Tue, 04-Jun-2024 08:20 am
by Chelsea Chew • Apex Research

Counter

CCK (7035)

Target Price (RM)

1.48

Recommendation

Hold

Summary

  • 3MFY24 core net profit stood at RM84.6m, in line with our expectations and accounting for 24.5% of our core net profit forecast of RM87.1m.
  • Feed costs increased in May 2024 due to adverse weather conditions in Brazil and the US.
  • Maintain our HOLD recommendation on CCK with a higher target price of RM1.48, by pegging 10.6x P/E multiple to FY25F EPS of 14.0 sen.
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