Singapore Stock Market News

Bumitama Agri - Impacted By Kalimantan Drought

StockFanatic
Publish date: Thu, 13 Nov 2014, 01:49 PM
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Bumitama's 9M14 core earnings were in line with expectations despite production being impacted by a rainfall deficit in Kalimantan since July. Maintain BUY and our sector Top Pick call. Production and ASP YTD are both ahead of our conservative forecast. Our earnings estimates have been marginally tweaked to account for these, resulting in a slightly higher TP of SGD1.48 (from SGD1.45), a 37% upside.
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