Her Aug 12 fair value of $1.05 was in turn an increase from an earlier fair value of 97.5 cents.
Ada Lim of OCBC Investment Research has downgraded her call for Bumitama Agri from "buy" to "hold", after the share price of the Indonesia-based palm oil producer rallied by a third since her last call on Aug 12 and thus implying limited upside.
Still, noting that the company has shown its commitment to enhance shareholders' returns, she has raised her fair value for this stock from $1.05 to $1.20, based on a higher valuation multiple.
