Stock Name: Golden Agri-Res
Company Name: GOLDEN AGRI-RESOURCES LTD
Company Name: GOLDEN AGRI-RESOURCES LTD
| Research House: UOB KayHian | Price Call: BUY | Target Price: 0.48 |
SINGAPORE (Jan 16): UOB Kay Hian is cutting its target price for Golden Agri-Resources (GGR) to $0.48 from $0.50 as the palm oil producer's oilseed and refining businesses have been slowing down.
In a report released on Jan 14, UOB says GGR's oilseed business in China was hit by the slowdown and the house is expecting EBITDA losses of US$81.1 million for 2014. This was due to poor timing of soybean purchases and tough operating environment in the industry.
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