Stock Name: Olam
Company Name: OLAM INTERNATIONAL LIMITED
Research House: IIFL
Company Name: OLAM INTERNATIONAL LIMITED
Research House: IIFL
IIFL has raised its target price on Singapore-listed commodities firm Olam International (OLAM.SI) to $3.87 from $3.77 and maintained its buy rating.
IIFL said Olam has a strong growth trajectory, with a 43% year-on-year increase in core earnings in its third quarter on the back of volume and margin expansion across its businesses.
IIFL said Olam has a strong growth trajectory, with a 43% year-on-year increase in core earnings in its third quarter on the back of volume and margin expansion across its businesses.
The securities firm said it believes Olam has the room and execution capability to achieve an annual increase of 15-20% for volume and 5-10% for margins in the next three years.
IIFL added that Olam has planed capital expenditure of US$1 billion ($1.24 billion) to US$1.5 billion in the next three years for assets such as processing and logistics.
At 11:40 a.m., Olam shares were up 2.1% at $2.89 on a volume of 3.5 million shares.
No comments:
Post a Comment