Brokers' take
Wilmar International | Hold
May 11 close: S$3.20
Target price: S$3.20
Jefferies Singapore, May 11
Wilmar International reported adjusted net profit of US$263 million, up 23 per cent year on year driven by improvement in soybean crushing margins, which management expects to sustain in the second quarter this year.
However, structural over-capacity in palm refining continues to be a drag on earnings.
With sugar prices staying weak, we struggle to see how Wilmar can materially lift its return on equity from …
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Capital Markets & Currencies
Israel hits back, markets react; STI down 0.4%
Oil jumps, equities fall as Iran blasts fan Middle East fears
Tokyo: Nikkei index tumbles 3% in morning trade
Singapore shares open higher on Friday; STI up 0.2%
Stocks to watch: CICT, Seatrium, Keppel DC Reit, UOB
Europe: Industrials boost Stoxx 600 as earnings season rolls in