Maybank sets SGD 4.21 target for First Resources stock

Published on 10/20/2026 at 19:21 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Results are scheduled for November 13, 2026, after Maybank set a SGD 4.21 target. First Resources stock costs EUR 2.60 on October 20, 2026.

Target, results and price

Maybank Research downgraded First Resources to Hold and set a SGD 4.21 target on September 28, 2026.
First Resources is scheduled to announce third-quarter 2026 results on November 13, 2026.
First Resources stock costs EUR 2.60 at Lang & Schwarz on October 20, 2026 at 7:11 p.m. CEST.

First Res, SG1W35938974, Illustration mit AI erstellt.

First Resources (ISIN SG1W35938974) is trading at EUR 2.60 at Lang & Schwarz on October 20, 2026 at 7:11 p.m. CEST. The key valuation marker is Maybank Research's September 28, 2026 downgrade to Hold with a SGD 4.21 target, as reported by Moomoo.

Maybank target sets the marker

The Maybank target stands 12.57 percent above the Singapore-listed stock's last price of SGD 3.74 on October 20, 2026. That home-market quote gives investors a separate view of the analyst valuation, while the euro quotation is the relevant German trading indication.

Half-year cash flow improved

First Resources reported first-half 2026 revenue of USD 973.60 million, up 44.50 percent from the comparable period. Free cash flow reached USD 100.60 million, compared with negative USD 84.70 million in the first half of 2025, while the interim dividend rose 77.80 percent to SGD 0.08 per share, according to The Smart Investor.

Dates and operating context

First Resources is scheduled to release its third-quarter 2026 results on November 13, 2026, according to the company's investor-relations calendar. The company also reaffirmed its zero-burning policy in an October 20, 2026 update, linking its plantation operations to the ongoing scrutiny of fires in Indonesia, according to First Resources.

Singapore valuation in view

First Resources had a market capitalization of SGD 5.79 billion and a price-to-earnings ratio of 14.63 on October 20, 2026. Its 52-week range was SGD 1.70 to SGD 5.24, placing the last Singapore quote 28.63 percent below the high and 120.00 percent above the low. The company operates as an integrated palm oil producer with plantations and processing assets in Indonesia.

Stock position

The combination of Maybank's Hold rating, the SGD 4.21 target and the November reporting date gives the stock a clear set of reference points for the next results cycle. The first-half figures also put cash generation alongside revenue growth as a central measure of performance.

First Resources was trading at EUR 2.60 at Lang & Schwarz on October 20, 2026 at 7:11 p.m. CEST.

The further course of trading is shown by the continuously updated real-time quote of First Resources stock.