Hong Leong IB Research has upgraded plantations company, Kuala Lumpur Kepong (KLK) to a hold with a higher target price of RM23.12 from RM21.31.
The research house said the plantation group's management was now guiding for a flattish FFB (Fresh Fruit Bunch) output growth in financial year 2014 due to a 4.8 per cent year-on-year decline in FFB output in the first half of the year.
