CIMB Downgrades Indofood Agri To Underperform.
CIMB Downgrades Wilmar To Neutral; S$5.20 Target
CIMB Cuts Golden Agri To Neutral; S$0.94 Target
CIMB downgrades Singapore plantation sector to Underweight from Overweight to reflect worries on regulatory environment. Says, "given rising regulatory risks and a slowing earnings momentum, we can no longer justify the large P/E premium accorded to the sector." Latest prices; Wilmar (F34.SG) +0.5% at S$4.33; Indofood Agri (5JS.SG) down 1.4% at S$2.04; Golden Agri (E5H.SG) down 0.6% at S$0.765; First Resources (EB5.SG) down 1.9% at S$1.03.
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