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.
SINGAPORE (July 4): RHB Research is reiterating its “buy” call on Wilmar International with an unchanged target price of $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.
