KUALA LUMPUR: Kenanga Research has tapered its earnings estimate on Fraser & Neave Holdings Bhd amid the resurgence of Covid-19 cases and higher commodity price trends but it expects the group to weather the uncertain times. The research house, which has a "market perform" on the stock, said it expects FY21 core net profit to lower than than initially expected despite the first quarter result coming within expectations at 31% of its and consensus full-year estimates. "Moving forward, qualms surrounding the resurgence of Covid-19 globally as well as the higher commodity price trends are likely to continue to temper with the anticipated earnings recovery," it said.