Analysts cut target price for Wilmar amid regulatory overhang, higher raw material costs
The company’s nine-month earnings for the period ended Sep 30 are below banks’ estimates
[SINGAPORE] Analysts have reduced their target price for Wilmar International, citing regulatory risks arising from the haze-related probe, alongside higher raw material prices caused by El Nino.
CGS International (CGSI) reduced the company’s target price to S$3.15 from S$3.60, while maintaining its “hold” call.
Jacquelyn Yow from CGSI said that the house maintained its position over uncertainty related to Indonesia’s palm oil policies and haze-related enquiries by the National Environmental Agency (NEA).