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933 Brokers' Digest

The Edge Singapore
The Edge Singapore5/15/2020 6:30 AM GMT+08  • 7 min read
933 Brokers' Digest
Here are three stocks to watch for the week: Wilmar international, Venture Corporation and China Aviation Oil.
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Wilmar International
Price targets:

RHB BUY $4.83

Wilmar’s earnings resilient, spin-off IPO in China on track

CGS-CIMB Research is reiterating its “add” call on Wilmar International with an unchanged target price of $4.58, representing a 29% upside for the counter. This comes despite a 12.7% y-o-y drop in earnings to US$224.3 million ($316.7 million) for 1QFY2020 ended March. on the back of mark-to-market losses on investment securities. Revenue in the same period was up 4.6% y-o-y to US$10.9 billion, driven by stronger demand for its consumer products but partially offset by a 20% reduction in sales volume of medium pack and bulk products.

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