SINGAPORE (Nov 14): UOB Kay Hian is maintaining its “sell” call on Wilmar International, the world’s largest palm-based biodiesel producer, with a target price of $3.05.
That’s because UOB believes Wilmar’s share price rebound from the recent low of $3.05 after it issued a profit warning for its 2Q16 results has largely priced in the stronger 3Q16 performance and expected steady 4Q16 earnings.
In a Monday report by UOB’s Singapore research team, net profit in 4Q is expected to be 9-13% higher q-o-q as management sees higher sales volumes.
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