Olam - DBS Vickers raises Olam's target to $3.70

Stock Name: Olam
Company Name: OLAM INTERNATIONAL LIMITED
Research House: DBS Vickers

DBS Vickers raises Olam International’s (O32.SG) target to $3.70 from $3.60, and reiterates its Buy call on the back of higher commodity prices and expected earnings from recent acquisitions. 

 

“We reiterate our Buy call on the stock for 19% upside to our revised target price. With earnings growth momentum intact from acquisitions, and diversified portfolio and geographic locations, we believe Olam remains undervalued. Strong 2Q11 and 3Q11 earnings should provide catalysts for share price appreciation,” DBS Vickers says. 

 

Olam is down 0.6% at $3.09.