RHB Securities has turned more optimistic on Golden Agri-Resources as it expects the palm oil company to continue to gain from a widening tax differential.

The brokerage has raised its target price for the stock to 30 cents from 25 cents previously. It has kept its “trading buy” call for the stock.

According to RHB, Golden Agri should be able to direct more of its crude palm oil (CPO) output to its downstream division to benefit from the tax differential between upstream and downstream products.

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