Olam International upgraded to "hold", fair value trimmed to $2.30 by OCBC Research

Stock Name: Olam Intl
Company Name: OLAM INTERNATIONAL LIMITED

Research House: OCBC

Price Call: HOLD

Target Price: 2.38

SINGAPORE (Nov 17): Commodity supplier Olam International Ltd has been upgraded to a "hold" rating with lower fair value of $2.38 by OCBC Research on the back of Olam's weaker first financial quarter earnings.

OCBC Research analysts Carey Wong and Wong Teck Ching said in a report today that FY15F earnings have been pared by 4% to account for the weaker 1Q showing and fair value has been slashed to $2.30 from $2.38.