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DBS positive on Bumitama Agri, expects ‘meaningful selling price recovery’ in 2H21 results

Lim Hui Jie
Lim Hui Jie11/8/2021 5:40 PM GMT+08  • 2 min read
DBS positive on Bumitama Agri, expects ‘meaningful selling price recovery’ in 2H21 results
DBS expects "stellar earnings" from BAL in 2HFY2021, since it has no hedging exposure.
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DBS Group Research analyst William Simadiputra has maintained his “buy” rating and target price of 70 cents on Bumitama Agri (BAL).

In a Nov 8 report, he is of the view that the company will post stellar earnings in 2HFY2021, mainly on the current firm crude palm oil (CPO) price.

Simadiputra highlights that since BAL has no hedging exposure in 2HFY2021, BAL could enjoy a meaningful selling price recovery vs its 1HFY2021 level, amid the current firm Indonesia domestic crude palm oil (CPO) price.

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