Agri Related stocks: Nomura has midstream earnings preview.
Tip Olam momentum to continue, Wilmar may again return +ve crush margins in tough market, Noble unexciting results priced in, Mewah to struggle on weak results.
Think 2Q11 midstream results will be mostly subdued with Olam and Wilmar performing alright, Noble n Mewah may fall short of expectation, still recommend Olam as top pick as its valuation looks compelling n result should act as catalyst. Noble, maintain Buy. Mewah remain rangebound on lack of catalysts, recommend reducing exposure to Wilmar on back of 2Q result.
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