Wednesday, January 19, 2011
First Resources
First Resources: JP Morgan remains OverWeight on grp, tipping stock as its top plantation pick in SG. Note that recent CPO conference highlight that CPO production recovery will continue in 2011.Tip other catalysts as New plantings and construction of palm oil mills and Potential crop diversification. Stock currently trades at 12x FY11E P/E against sector average of 16x.
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