Olam: MS remains O/w after mgt meeting. Note of steady business momentum, no negative suprises.
Continue to rate Olam amongst top picks in the ASEAN consumer space. Business momentum is steady, valuations (despite the recent rebound) have room to expand and think there is upside risk to FY13-15 earnings as Olam effectively deploys growth capital. Olam will report 2QF12 results on Feb 14 after market close and house have modeled in net profit of $134 m (+19% yoy).
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