Stock Name: Golden Agri-Res
Company Name: GOLDEN AGRI-RESOURCES LTD
Company Name: GOLDEN AGRI-RESOURCES LTD
| Research House: UOB KayHian | Price Call: HOLD | Target Price: 0.48 |
SINGAPORE (Jan 14): UOB Kay Hian has lowered its price target for Golden Agri-Resources from 50 cents to 48 cents, based on 15 times projected 2016 earnings, saying it expects moderate fresh fruit bunch (FFB) production growth and thin refining margins for the palm oil producer's downstream palm and laurics business.
"Refining margin for its downstream (business) remains thin due to stiff competition in Indonesia, and Golden Agri is likely to offer competitive pricing to gain market share," said the broking house, which has a "hold" call on the stock.
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