Thursday, February 24, 2011


Olam: +3.1% at $2.64. May offer trading opportunities as the rest of the Street backs mgt’s rebuttals to CLSA’s recent report citing concerns about Olam’s Nigeria export incentives, differences in audited and unaudited results, and negative economic value added…

Credit Suisse says this should clear up any misgivings going forward, notes sharp pullback offers an attractive entry point. Reiterates Outperform with $4.20 TP.
IIFL believes a disgruntled rival trader may have spun tales that led to CLSA’s speculations. Reiterates Buy with $4.43 TP.

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