Golden Agri-Resources raised to "buy", target lifted to 53 cents by OSK DMG

Stock Name: Golden Agri-Res
Company Name: GOLDEN AGRI-RESOURCES LTD

Research House: OSK-DMG

Price Call: BUY

Target Price: 0.53

SINGAPORE (March 3): OSK DMG has upgraded Golden Agri-Resources to "buy" from "neutral", saying the palm oil producer is expected to turn in stronger earnings in the quarters ahead.

Its oilseeds business turned profitable in 4Q2014, marking the second straight quarter of improvement, while its biodiesel business could get a boost from Indonesia's plans to shore up the biodiesel sector, OSK DMG said.

"Golden Agri's earnings appear to have turned the corner, with its oilseed segment booking two straight quarters of improvement.