Wilmar: Shares in Ghanaian oil palm producer Benso Oil Palm Plantation (BOPP.GH) jumped nearly 13% after reporting net profits more than tripled in FY11. Meantime, the local unit of Wilmar that net profits rose 266% to 9.8m cedis (US$5.9m), helped by a higher world market price for crude palm oil.
Wilmar is scheduled to report its 4Q results on 22 Feb with consensus estimates tipping net earnings of US$446m vs US$321m in 3Q11. The street has 15 buy, 9 hold and 4 sell calls on this stock with an average price target of $5.35. Technically, the stocks need to sustain above to negate its downward trend.
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