Macquarie cuts Hartalega stock target to MYR 4.32

Macquarie downgraded Hartalega stock to Underperform and cut its price target from MYR 5.74 to MYR 4.32 on October 2, 2026, according to The Edge Malaysia. The revision puts the analyst target 24.74 percent below the previous level and places the latest recommendation below the company's improving operating results.

Macquarie lowers its target

Macquarie analyst Denise Soon changed the recommendation from Neutral to Underperform and reduced the target to MYR 4.32 from MYR 5.74. The same report said the average one-year target stood at MYR 5.17, while forecasts ranged from MYR 3.80 to MYR 6.60.

The report also cited six Buy ratings, eight Hold ratings and seven Sell ratings. Analysts had lowered their consensus one-year target by 5.80 percent over the preceding three months, adding a cautious valuation signal to Hartalega's earnings recovery.

Q1 profit reaches MYR 70.03 million

Hartalega's Q1 FY2027 revenue reached MYR 605.80 million, up 9.50 percent from MYR 553.10 million in Q1 FY2026, according to MarketScreener. Profit attributable to shareholders rose from MYR 12.60 million to MYR 70.03 million over the same period.

Operating profit was MYR 80.00 million in Q1 FY2027, while higher average selling prices helped offset lower sales volume and higher raw-material costs. For investors, the contrast is clear: earnings improved sharply, but the target revision reflects continued sensitivity to pricing, utilization and demand conditions.

Bursa quote stays inside yearly range

Hartalega was last at MYR 1.04 on Bursa Malaysia on October 2, 2026 at 4:58 p.m. MYT, versus a MYR 1.03 prior close, a plus 0.97 percent move. Market capitalization stood at MYR 3.6 billion and the 52-week range was MYR 0.80 to MYR 1.38 on September 30, 2026.

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