Stock Name: Wilmar
Company Name: WILMAR INTERNATIONAL LIMITED
Research House: IIFL
IIFL believes the worst is over for Wilmar after the two disastrous quarters. The company’s robust volume growth has helped sustain its dominant market share, and paves way for an earnings rebound in 2011.
Company Name: WILMAR INTERNATIONAL LIMITED
Research House: IIFL
IIFL has upgraded Wilmar International (WLIL.SI), the world’s largest palm oil firm, to “buy” from “add” but cut its target price to $6.69 from $7.25.
IIFL’s “buy” rating means it expects the stock to give a positive return of over 20% over 12 months. An “add” rating means the stock could rise more than 10%.
IIFL’s “buy” rating means it expects the stock to give a positive return of over 20% over 12 months. An “add” rating means the stock could rise more than 10%.
IIFL believes the worst is over for Wilmar after the two disastrous quarters. The company’s robust volume growth has helped sustain its dominant market share, and paves way for an earnings rebound in 2011.
The broker said Wilmar’s trading volume increased across the board for consumer products such as oilseeds, grains and palm oil.
“Its China rice and flour business is progressing above expectations to become another key growth driver,” the broker said. “We remain bullish in the long term on Wilmar for its unrivalled marketing and branding power in China”.
At 10:41 a.m., Wilmar shares were up 0.8% at $5.07 with over 2.4 million shares traded.
No comments:
Post a Comment