Singapore Stock Market News

Olam International - Small Steps

StockFanatic
Publish date: Thu, 28 Nov 2013, 02:52 PM
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■ We maintain our Outperform rating on Olam, but close our ACT call and lower our PT to SGD 1.93 from SGD 2.35.

■ The investor education programme, while positive, has not had the share price impact that we expected.

■ Weak 4QFY13 earnings were in part to blame. FY14 has started more positively and delivery against goals is visible.

■ After incorporating results and new disclosure items into our model, we cut our FY14-15E adj. EPS by 21% and 17%.
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