KUALA LUMPUR (Aug 28): Spritzer Bhd’s (KL:SPRITZER) share price climbed to a record high in Friday trading as investors cheered the bottled water producer’s strong second-quarter results.
The counter jumped as much as 54 sen, or nearly 17%, to a new high of RM3.76 during trade. At market close, Spritzer ended 33 sen or 10.25% higher at RM3.55, with more than 3.2 million shares changing hands, making it one of the biggest gainers on Bursa Malaysia for the day.
At RM3.55, Spritzer had a market capitalisation of RM2.28 billion.
At least three of the four research houses tracked by Bloomberg have raised their target prices for Spritzer following its latest results.
Excluding non-operating items, Spritzer’s second quarter ended June 30, 2026 (2QFY2026) core net profit stood at RM36.6 million, bringing its first-half earnings to 56% of Public Investment Bank’s full-year forecast and 54% of the consensus estimate, the research house said.
It said warmer weather conditions could drive robust demand for bottled water, providing further earnings upside for Spritzer.
Public Investment Bank was also encouraged by Spritzer’s ongoing structured expansion of its production capacity, alongside automation and process enhancements. It raised its target price to RM3.70 from RM3.30 and maintained its 'outperform' call on the stock.
BIMB Securities likewise raised its target price to RM3.40 from RM2.30, citing Spritzer’s pricing discipline and operational efficiencies, which should help cushion cost pressures. However, it expects further margin expansion to moderate going forward.
“Nonetheless, following the recent share price rerating, we believe much of the near-term earnings upside has been priced in, resulting in a more balanced risk-reward profile at current valuations,” it said.