Thursday, June 18, 2015

First Resources is 'buy' with $2.40 target price by UOB despite El Nino

Stock Name: First Resources
Company Name: FIRST RESOURCES LIMITED
Research House: UOB KayHianPrice Call: BUYTarget Price: 2.40



SINGAPORE (June 18): UOB KayHian has reiterated its preference for First Resources given its good productivity track record. The company is also seen as a beneficiary of new policies in Indonesia and crude palm oil price movements.

"First Resources' share price delivers the best performance among the Singapore-listed plantation companies, as crude palm oil and soybean oil prices recover post biodiesel-friendly announcements by Indonesia, Malaysia and the US," states UOB KayHian analysts in a June 18 note, with a "buy" call and target price of $2.40.

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