Wilmar could see 2018 earnings forecasts upgrade by up to 10%, says UOB Kay Hian
Stanislaus Jude ChanPublished on Tue, Nov 13, 2018 / 1:21 PM GMT+8
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SINGAPORE (Nov 13): UOB Kay Hian is keeping its “buy” call on agribusiness group Wilmar International with an unchanged target price of $3.90, but says 2018 earnings forecasts could be upgraded by 8-10% after Wilmar’s 3Q18 results briefing later this week on Nov 15.
Wilmar on Monday reported an 10.7% increase in 3Q earnings to US$407.4 million ($564 million), driven by better results in Tropical Oils and Oilseeds & Grains and supported by higher share of results of affiliates.
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