Tuesday, July 13, 2010

RHB Research maintains Neutral on plantations

KUALA LUMPUR: RHB Research Institute is maintaining its Neutral recommendation on the PLANTATION [] sector, as it believes there are not many positive catalysts which would move CPO prices up in the near term.

In a research note issued on Tuesdya, July 13, it said based on these factors, it therefore expected plantation companies' share prices to remain lacklustre until this scenario changes.

"Despite this, we continue to have Outperform recommendations on some stocks within the sector including SGX-listed First Resources (FV = S$1.35), KLK (FV = RM20.55), IOIC (FV = RM6.65) and CBIP (FV = RM3.70), while we maintain our Underperform recommendations on Sime Darby (FV = RM8.15), Genting Plantation (FV = RM6.50) and IJMP (FV = RM2.30)," it said.

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