Stock Name: GoldenAgr
Company Name: GOLDEN AGRI-RESOURCES LTD
CIMB in a Sept 19 research report says: "We are positive but not surprised that PT SMART has received RSPO certification for 14,955 ha of estates and one mill. Efforts put in place by the group to regain its reputation as a sustainable producer appear to have gained traction. This is a second positive boost to the group's efforts.
"Last Thursday, it announced that Nestle has resumed palm oil purchases from PT SMART. We believe these developments will help to raise the group's reputation as a sustainable producer among its customers and investors over time.
"We are keeping unchanged our earnings forecast, as well as target price of 81 cents (based on forward P/E of 12.5x). Target price of 60 cents. These latest developments together with potential M&A possibilities and higher production are re-rating catalysts for the stock. TRADING BUY."
Company Name: GOLDEN AGRI-RESOURCES LTD
| Research House: CIMB | Price Call: TRADING BUY | Target Price: 0.60 |
CIMB in a Sept 19 research report says: "We are positive but not surprised that PT SMART has received RSPO certification for 14,955 ha of estates and one mill. Efforts put in place by the group to regain its reputation as a sustainable producer appear to have gained traction. This is a second positive boost to the group's efforts.
"Last Thursday, it announced that Nestle has resumed palm oil purchases from PT SMART. We believe these developments will help to raise the group's reputation as a sustainable producer among its customers and investors over time.
"We are keeping unchanged our earnings forecast, as well as target price of 81 cents (based on forward P/E of 12.5x). Target price of 60 cents. These latest developments together with potential M&A possibilities and higher production are re-rating catalysts for the stock. TRADING BUY."
No comments:
Post a Comment