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Long-term outlook remains golden for this plantation stock with its latest breakthrough

Michelle Zhu
Michelle Zhu6/20/2017 12:59 PM GMT+08  • 2 min read
Long-term outlook remains golden for this plantation stock with its latest breakthrough
SINGAPORE (June 20): OCBC is maintaining its “hold” recommendation on Golden Agri-Resources with a fair value estimate of 38 cents, as it sees few catalysts in the nearer-term and believes the stock is still sensitive to crude palm oil (CPO) price mov
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SINGAPORE (June 20): OCBC is maintaining its “hold” recommendation on Golden Agri-Resources with a fair value estimate of 38 cents, as it sees few catalysts in the nearer-term and believes the stock is still sensitive to crude palm oil (CPO) price movements.

In a Tuesday report, lead analyst Jodie Foo notes how palm oil futures have declined about 5% over the past month.

Given mixed signs of demand from the group’s key markets in China, India and Europe, OCBC estimates that a slowdown in palm oil demand, coupled with high palm oil supplies, could cap prices to their year-end forecast of MYR2,650 ($858.16) per metric tonne.

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