KUALA LUMPUR: CIMB Equities Research has Sime Darby as its preferred pick among Malaysian large-cap planters for its cheaper valuation versus peers, more aggressive M&A activity and plans to unlock value.
“We raise our FY13 earnings 2% and tweak our FY12 and FY14 earnings to account for our new CPO price assumptions. Our target price, which is based on a 10% discount to sum-of-parts, rises 10 sen to RM11.00,” it said on Wednesday.
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