Friday 17 June 2016

SGX Market Update : Wilmar emerges as sole plantation 'buy' for DBS, despite bearish view on CPO prices .


SINGAPORE (June 16): DBS Vickers Securities has upgraded Wilmar International from its previous "hold" rating to "buy" with a target price of $3.76.

This makes it the only stock DBS would recommend a "buy" in the region's planation sector, despite forecasts of reduced CY16F palm oil output for Malaysia and Indonesia, lower 4Q16 prices, and reduced FY17F CPO prices by 3% which could yield an up to 25% cut in FY17F earnings.

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