Golden Agri

Golden Agri kept at ‘hold’ despite long-term initiatives in place

SINGAPORE (Sept 13): OCBC is maintaining its “hold” call on Golden Agri with an unchanged fair value of 36 cents given the research house expects few catalysts in the near term.

This comes despite OCBC Research having upgraded its crude palm oil (CPO) outlook with the group’s long-term initiatives in place.

The Malaysian Palm Oil Board on Monday released data which showed an 8.8% m-o-m rise in Malaysia’s palm oil stocks, 0.9% decrease in palm oil production and 6.4% increase in exports.

QT Vascular, Vallianz, Golden Agri, SeD, mm2 Asia, Koh Brothers, IHH, Global Yellow Pages

SINGAPORE (May 22): Here are some stocks to watch this Monday morning:

QT Vascular is in talks with interested third parties for possible transactions involving its coronary products.The talks come hot on the heels of the disposal of its Chocolate PTA, its non-drug coated peripheral asset, to global healthcare company Medtronic, for US$28 million ($39 million). Shares of QT Vascular closed at 3 cents.

This plantation stock is going down a golden path

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SINGAPORE (Jan 9): RHB is maintaining its “buy” call on Golden Agri at a target price of 46 cents while declaring the stock as its top pick within the plantation sector.

(See also: Will 2017 be a bumper crop year for plantation stocks?)

Will 2017 be a bumper crop year for plantation stocks?

SINGAPORE (Jan 4): RHB is maintaining its “neutral” stance on the plantation sector with its top pick as Golden Agri for its diversified land bank, crude palm oil (CPO) price sensitivity and stock liquidity.

The stock has been given a target price of 46 cents.

In the research house’s Singapore Strategy report on Tuesday, RHB believes CPO prices could remain at high levels up to 1Q17 on the back of the strong US dollar as well as a still-weak CPO output due to the 24-month lagged impact of El Nino.

Plantation stocks are counting on these 3 things for a bountiful year

SINGAPORE (Dec 20): DBS Vickers Securities has upgraded its view on the plantation sector to “neutral” on improving fundamentals, as well as expectations of yield recovery and steady prices to boost the earnings of plantation companies in FY17F.

In the research house’s 2017 Outlook report, DBS analyst Ben Santoso says the plantations sector will be shaped by three key issues over the next 12 months: continued tight inventory, higher biodiesel blending, and a strong US dollar.

Uncertain outlook ahead for Bumitama Agri

SINGAPORE (Aug 8): RHB is maintaining its “neutral” rating on Indonesian oil-palm plantation Bumitama Agri, with a revised target price of 75 cents.

In a Monday report, the research house expects negative growth of 13.1% for the plantation, before recording an increase of 17-20% in FY17-18.

This comes as the plantation lowered its 2016 FFB output forecasts to –5 to –10%. While it expects a significant recovery in 2H16, Bumitama Agri is cautious on prospects in 2017, citing the secondary effect of El Nino.

Golden Agri kept on ‘hold’ by OCBC with unchanged 34-cent target

SINGAPORE (May 17): OCBC Investment Research is maintaining its “hold” call on Golden Agri-Resources with an unchanged target price of 34 cents, despite the palm oil plantation company making a “slow start to FY16”.

OCBC lead anaylst Carey Wong says in a Monday report that Golden Agri’s 1Q core earnings of US$40 million ($54.7 million) only met 17% of OCBC’s FY16 estimate. Similarly, 1Q revenue of US$1.49 billion falls short, meeting just 21% of OCBC’s full-year forecast.

Golden Agri swings back to profitability with 1Q earnings of US$94 mil

Golden Agri-Resources

SINGAPORE (May 13): Golden Agri-Resources brushed aside softer average crude palm oil prices and lower output from El Nino-hit plantations to post 1Q16 earnings of US$94 million ($128.9 million), reversing from losses of US$3 million in 1Q15.

“The palm and lauric business continued its improvement since last year as the integration of downstream assets progresses,” Golden Agri said as trading closed on Friday.

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