Photo by Chanaka on Pexels.com
Analysts maintain Westports Holdings Berhad “Neutral” rating with an unchanged target price of RM4.30. The key highlights are:
The share price on October 9, 2024, was RM4.20, with an expected total return of +6.8% (2.4% price return and 4.4% dividend yield).
Weakness persists in the Asia-Europe transshipment trade due to the Red Sea crisis, showing a -10% decline in container volume in 1HFY24.
Intra-Asia trade remains strong, growing by +6.5% and expected to be the volume driver for the company.
High container yard occupancy, which peaked at 100% in June 2024, has decreased to 75%, but is still above the ideal 65%.
Container volume growth for FY24 is projected at +4.2% year-on-year, driven by gateway volume, which involves higher handling charges.
No changes were made to earnings estimates, and the stock’s valuation is in line with historical averages.
The outlook is stable with moderate growth expectations, but potential upside could come from a tariff increase or higher container volume. – MIDF
Read more Business News
Historical analysis shows World Cup tournaments have limited influence on FBM KLCI performance, with macroeconomic…
The prolonged US-Iran conflict has turned into a drawn-out war of attrition, far exceeding the…
Malaysia’s palm oil inventories in May topped market expectation of 2.4m mt, as buyers switched…
Healthcare, energy, AI, and defense spending are approaching $25 trillion in 2026, creating a powerful…
Brrandom On its third anniversary, the AI-native marketing technology company launches six transformative AI practices,…
Forest City’s Special Financial Zone (SFZ) could exceed its RM2 billion investment target this year,…
This website uses cookies.