SINGAPORE (July 2): DBS Group Research continues to rate Wilmar International a “buy” and back to its target price of $4.60, as in its previous report on Wilmar, DBS cut its $4.60 target price to $4.00.
See: Wilmar offers margin of safety amid rough seas: DBS
In a Wednesday report, analyst William Simadiputra says, “We raise Wilmar’s target price to $4.60 on higher FY20 price-to-earnings (PE) multiple of 22x pegged to Yihai Kerry Arawana (YKA)’s earnings forecasts of US$650 million for 2020. This implies that YKA may potentially be listed at a market capitalisation of around $19.7 billion, or equal to 75% Wilmar’s current market capitalisation.”
