UOB Kay Hian analysts Leow Huey Chuen and Jacquelyn Yow are keeping “buy” on Wilmar International with an unchanged target price of $6.40.

“Our target price is based on FY2021 earnings per share (EPS) and reflects a blended 26 times FY2021 price-to-earnings (P/E) for China operations and blended 11 times P/E for non-China operations,” they write in a Sept 7 report.

To them, industry data is showing improving operating statistics, which points to a better performance in the 2HFY2021.

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