United Plantations (UP): Valuation at Different CPO Scenarios (RM4,250 – RM5,000) – With Comparison to KLK, IOI, SOP, SDG, JPG, TSH and Ta Ann
United Plantations (UP) Valuation: A Sensitivity Analysis Based on RHB Research Peers United Plantations (UP): Valuation at Different CPO Scenarios (RM4,250 – RM5,000) – With Comparison to KLK, IOI, SOP, SDG, JPG, TSH and Ta Ann Date: April 5, 2026 Data Sources: RHB Research, UP FY2025 Financials (2015-2025 historical data), Bursa Malaysia, klse.i3investor.com , tradingview.com Executive Summary Item Value UP FY2025 EPS 133 sen (RM1.33) UP FY2025 CPO Production 286,139 tonnes Current UP Share Price (April 2026) RM34.00 Implied P/E (Current) 25.6x Base P/E for Sensitivity 25x Base CPO Price (RHB Scenario) RM4,250/tonne UP Base Target Price (CPO RM4,250) RM33.25 EPS Impact per RM100 CPO Change ~1.51 sen Key Finding: UP's current price (RM34.00) implies CPO at approximately RM4,400/tonne – closely aligned with current market conditions. Section 1: Current Market Context (Geopolitical Crisis) The current rally in plantation stocks is driven by a...