First Resources: Deutsche is excited over 2H16 results
- Recent 7% setback in CPO prices plus weak results from Indon-listed peers have seen First Resources share price plummet 15% from its YTD peak
- Deutsche thinks CPO prices remain attractive, underpinned by renewed Indon biodisel commitment
- Supply is also set to worsen, providing further support for CPO prices
- Currently trading at around $1.68, providing a 50% upside potential to its TP of $2.60.
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