In their Feb 7 note, Mo and Tan say that Wilmar is likely to report a 4QFY2024 core net profit of between US$330 million ($447.8 million) and US$340 million, versus 3QFY2024’s US$208 million and, US$424 million recorded in 4QFY2023.
Despite seeing continuing underperformance from Wilmar International (SGX:F34
) , UOB Kay Hian analysts Heidi Mo and Llelleythan Tan have kept their “hold” call, ahead of the company’s full year results on Feb 20.
However, with expectations of a modest rise in Chinese consumer sentiment to spend on food products and sustained palm oil refining profit margins, they have raised their target price for the stock from $3.00 to $3.18.
