Ongoing market uncertainty makes it all the more opportune to 'buy' this stock

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SINGAPORE (July 4): RHB Research is reiterating its “buy” call on Wilmar International with an unchanged target price of S$3.59, while highlighting ongoing market uncertainties and the recent retracement in share price as a good opportunity to accumulate the stock.

The research house has left its forecasts largely unchanged despite recent concerns of a trade war emerging between US and China, as it believes the low soybean prices at present will help to offset tariff fears.

Given today’s higher utilisation rate of crushing facilities and lower soybean prices, RHB maintains that its current margin assumptions of US$12.50 and US$12 per tonne for FY18 and FY19, respectively, are still achievable... (Click here to read the full story)