OSK Research Sdn Bhd is maintaining its "Buy" call and target price of RM2.63 on Evergreen Fibreboard Bhd (EFB) (5101) as its fundamentals remain intact.
OSK Research said that the firm recorded a stellar performance, thanks to higher average selling prices for medium-density fibreboards and rising orders from its global customers.
EFB's revenue for the first half of this year hit a high of RM480 million, an increase of 43.1 per cent year-on-year while pre-tax profit came in at RM78 million.
EFB has also declared a second interim tax exempt dividend of 2 sen per share, which brings its total payout year-to-date to 4 sen per share, accounting for 55.5 per cent of OSK Research's full-year estimate of 7.2 sen per share.
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