Olam

Olam: IIFL maintains Buy and increases TP to $3.87 from 3.77, citing visible and consistent growth. Add that with 43% core earnings growth yoy in its 3QFY11, Olam has delivered +20% growth in all of its 11 normal qtrs and expect 30% core earnings CAGR with fair visibility in the nx 3yrs. Upgrades FY11 forecast by 17% to $372m on strong 9-mth results.