Stock Name: SIME
Company Name: SIME DARBY BHD
Research House: MIDF
Company Name: SIME DARBY BHD
Research House: MIDF
MIDF Research today reaffirmed its "buy" call on Sime Darby Bhd, on the possibility that more write-back will be made with respect to three other projects, namely the Qatar, Marine and Bakun projects.
The target price was unchanged at RM11.86.
"We believe the management has been conservative and undertook a kitchen sinking exercise in FY10," the research house said.
MIDF said it likes Sime Darby as its earnings growth will continue to be underpinned by an increase in mature hectarage, higher palm oil production as well as improving performance of its energy and utilities division.
Meanwhile, HwangDBS Vickers Research expects Sime Darby to book stronger 2HFY11 earnings on the back of property launches and recovering fresh fruit bunch yields.
It also reiterated a "buy" recommendation for Sime Darby and nudged up the FY11 earnings forecast by three per cent to reflect the impact of the Close Out Agreement signed by its wholly-owned subsidiary with Maersk Oil Qatar (MOQ) on March 17.
The agreement would also result in a RM100 million net positive impact on the group's FY11E profit and loss statement, it added.
-- Bernama
The target price was unchanged at RM11.86.
"We believe the management has been conservative and undertook a kitchen sinking exercise in FY10," the research house said.
MIDF said it likes Sime Darby as its earnings growth will continue to be underpinned by an increase in mature hectarage, higher palm oil production as well as improving performance of its energy and utilities division.
Meanwhile, HwangDBS Vickers Research expects Sime Darby to book stronger 2HFY11 earnings on the back of property launches and recovering fresh fruit bunch yields.
It also reiterated a "buy" recommendation for Sime Darby and nudged up the FY11 earnings forecast by three per cent to reflect the impact of the Close Out Agreement signed by its wholly-owned subsidiary with Maersk Oil Qatar (MOQ) on March 17.
The agreement would also result in a RM100 million net positive impact on the group's FY11E profit and loss statement, it added.
-- Bernama
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