Stock Name: KULIM
Company Name: KULIM (M) BHD
Research House: OSK
OSK Research has upgraded its target price for Kulim to RM14.75 from RM11.20 previously to factor in a higher crude palm oil price assumption.
"Although the stock has outperformed the sector in the past 2 - 3 months, its valuation remains inexpensive; hence we maintain our 'Buy' call," said the research outfit.
In the absence of a corporate exercise, OSK believes a further re-rating will depend on palm oil price staying firm.
Of late, laggard plantation stocks have started to perk up, suggesting that interest has shifted to lesser known names.
It is likely that buying interest will rotate back to Kulim, especially after its stock price consolidation. -- Reuters
Company Name: KULIM (M) BHD
Research House: OSK
OSK Research has upgraded its target price for Kulim to RM14.75 from RM11.20 previously to factor in a higher crude palm oil price assumption.
"Although the stock has outperformed the sector in the past 2 - 3 months, its valuation remains inexpensive; hence we maintain our 'Buy' call," said the research outfit.
In the absence of a corporate exercise, OSK believes a further re-rating will depend on palm oil price staying firm.
Of late, laggard plantation stocks have started to perk up, suggesting that interest has shifted to lesser known names.
It is likely that buying interest will rotate back to Kulim, especially after its stock price consolidation. -- Reuters
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