Wilmar: -1%, extending last week's 2.7% fall, as concerns over China's recent price controls continue to weigh, further weighed by Beijing's fight vs inflation giving investors additional reason to exit following plantation grp's weaker-than-expected 3Q10 results released earlier this month…
UBS cuts TP to $7.00 vs $8.00 after lowering FY10-FY12 EPS estimates to account for earnings volatility stemming from Wilmar''s trading business, but keeps Buy call on view Co. remains structurally sound. Note that grp’s size gives it superior insight into the vegetable oils trade flow, and thus a superior trading advantage. Expects Wilmar to profit from its trading positions over longer periods of time. Tips support at $5.88 October trough.
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