Bursa Malaysia Stock Watch
SIME - Nomura bullish on Sime, keeps 'buy' call
kltrader
Publish date: Thu, 06 Jan 2011, 11:43 PM
kltrader
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Stock Name: SIME
Company Name: SIME DARBY BHD
Research House: NOMURA
Nomura Securities Malaysia Sdn Bhd is bullish on Sime Darby Bhd and has maintained its 'buy' rating on the company with the target price of RM11.10.
Nomura said this was based on an improved outlook for the palm oil sector as well as improving sentiment surrounding the group's restructuring.
"The tighter vegetable oils outlook, stronger crude oil prices and a weaker US dollar lead us to expect higher crude palm oil (CPO) prices for financial year 2011," it said in its Asean Equity Strategy Outlook Report 2011 here today.
It said the new chief executive officer, Datuk Bakke Salleh, at the financial year 2010 results briefing, has reassured investors there would be no more write-downs stemming from the four infamous projects. - Bernama
Company Name: SIME DARBY BHD
Research House: NOMURA
Nomura Securities Malaysia Sdn Bhd is bullish on Sime Darby Bhd and has maintained its 'buy' rating on the company with the target price of RM11.10.
Nomura said this was based on an improved outlook for the palm oil sector as well as improving sentiment surrounding the group's restructuring.
"The tighter vegetable oils outlook, stronger crude oil prices and a weaker US dollar lead us to expect higher crude palm oil (CPO) prices for financial year 2011," it said in its Asean Equity Strategy Outlook Report 2011 here today.
It said the new chief executive officer, Datuk Bakke Salleh, at the financial year 2010 results briefing, has reassured investors there would be no more write-downs stemming from the four infamous projects. - Bernama
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