Analysts bullish on Bumitama Agri, expect rally of CPO prices

Singapore

RHB Research has upgraded its call on Bumitama Agri to "buy" from "neutral" while raising its target price to S$0.90 from S$0.56, based on an unchanged 8 times FY2022 earnings estimates.

This comes after the Indonesian palm oil producer on Monday (Feb 28) beat the street's expectations with its FY2021 results.