Wilmar breaks past $6.00 for 1st time in 2 weeks on follow-through buying as investors are upbeat over its latest venture into fast-growing sugar business via A$1.75bn purchase of Sucrogen, Australia's largest producer of raw sugar. Morgan Stanley maintains OW call with $7.80 target, highlights Wilmar will be able to open up new export markets like China for Sucrogen's prodn but key synergy lies in Indon where sugar demand is strong. Wilmar had initially planned to penetrate Indon sugar market.
Stock may attempt to close breakdown gap at $6.18 formed in May.
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