Olam: mkt watchers attribute yesterday’s surge on strong volume to interest from funds. This week marks the start of the CLSA conference which Olam is participating, and Olam is also scheduled for a roadshow in New York with Morgan Stanley the week after.
Despite potential dilution from Temasek's convertible bonds (exercise $3.10), KE reckons stock is worth a Buy even at $3 levels. Remains confident about the longer prospects following Olam’s impressive FYJun10 results, which suggests that the company’s M&A strategy execution is better than expected.
HSBC initiated Buy on Olam with $3.41 target last week.
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