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NewsRHB Research maintains Buy on Sarawak Oil Palms, raises fair value to RM9.08
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RHB Research maintains Buy on Sarawak Oil Palms, raises fair value to RM9.08
by Cals Wed 04 Jun 2014, 02:52
| RHB Research maintains Buy on Sarawak Oil Palms, raises fair value to RM9.08 |
| Business & Markets 2014 |
| Written by theedgemalaysia.com |
| Tuesday, 03 June 2014 08:38 KUALA LUMPUR (June 3): RHB Research has maintained its Buy rating on Sarawak Oil Palms (SOP) with a higher fair value (FV) of RM9.08 after the stock reached house FV of RM7.04 last week. “We raise it further, based on an unchanged 16x P/E, but after rolling over our valuation horizon to CY15. “SOP is starting to deliver double-digit production growth again and we believe its performance will be decent for FY14. Its 100,000-tonne biodiesel plant, which starts operating in 3Q, will help to absorb Sarawak state’s palm oil production,” the research house said in a note Tuesday. |
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