Indofood PT Lowered at Sinarmas Amid Palm Oil Uncertainties

(Bloomberg) -- While the price of crude palm oil may be near its bottom, uncertainties over how soon and fast it can recover has raised concerns over the outlook of Indofood Sukses Makmur, according to Wilbert Ham, analyst at Sinarmas Sekuritas.
* Lowers stock target price to 8,650 rupiah from 9,675 rupiah and keeps buy recommendation
* Expects Indofood’s foreign exchange losses to shrink in coming quarters as rupiah exchange rate stabilizes
* Sees continued strong performance from Indofood CBP Sukses Makmur and Bogasari Flour Mills units in coming quarters
* NOTE: Earlier, PALM OIL: Futures Drop to Fresh 3-Year Low on Indonesia Levy Cut
* NOTE: Oct. 31, Indofood Sukses Makmur’s 9-Month Net Income Falls 14% Y/Y

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Indofood PT Lowered at Sinarmas Amid Palm Oil Uncertainties

(Bloomberg) -- While the price of crude palm oil may be near its bottom, uncertainties over how soon and fast it can recover has raised concerns over the outlook of Indofood Sukses Makmur, according to Wilbert Ham, analyst at Sinarmas Sekuritas.
* Lowers stock target price to 8,650 rupiah from 9,675 rupiah and keeps buy recommendation
* Expects Indofood’s foreign exchange losses to shrink in coming quarters as rupiah exchange rate stabilizes
* Sees continued strong performance from Indofood CBP Sukses Makmur and Bogasari Flour Mills units in coming quarters
* NOTE: Earlier, PALM OIL: Futures Drop to Fresh 3-Year Low on Indonesia Levy Cut
* NOTE: Oct. 31, Indofood Sukses Makmur’s 9-Month Net Income Falls 14% Y/Y

$ICBP $INDF 