CGS-CIMB was both speaker and participant of the recently concluded Virtual Palm and Lauric Oils Price Outlook Conference & Exhibition (POC) 2020, held in Kuala Lumpur on Oct 27 and 28 and attended by some 1,750 registered participants.
Agribusiness players are generally positive on crude palm oil (CPO) prices for the remainder of the year with the current rally set to ease with improved supply in 1H21F, note CGS-CIMB analysts Ivy Ng and Nagulan Ravi in an Oct 29 note.
Ng and Ravi are maintaining their ‘neutral’ call on the agribusiness sector, and recommend ‘add’ on three highlighted companies: First Resources Ltd, Genting Plantations and Wilmar International, with target prices $1.80, RM10.70 and $5.53 respectively.
