Wilmar kept at 'neutral' with target price of $3.30 by Goldman Sachs

Stock Name: Wilmar Intl
Company Name: WILMAR INTERNATIONAL LIMITED

Research House: Golman Sachs

Price Call: HOLD

Target Price: 3.30

SINGAPORE (Feb 16): Goldman Sachs has raised its target price for Wilmar International to $3.30 from $3.15 amid the agribusiness stable outlook this year.

This comes after Wilmar announced a core net profit of US$1220 million for FY14, which is 5% above Goldman Sachs' estimates.

According to Goldman Sachs, Wilmar's strong performance was due to higher value-added downstream businesses, lower feedstock price and improved price volatility.