- Post 3Q22 earnings announcement, Wilmar's share price recovered slightly but Wilmar (SGX:F34)’s valuation is still below its 5-year average P/E multiple which we think it offers investors an opportunity to own a well-integrated food company with a strong earnings track record. The company is now mispriced as an upstream palm oil company despite its strong presence in midstream to downstream of food segments.
- - Read this at SGinvestors.io -
- - Read this at SGinvestors.io -
- Wilmar’s earnings can benefit from its integrated business platform, stretching from upstream plantation, refining to consumer products. This should give Wilmar the flexibility to adapt to external challenges such as pandemic, trade wars, and the Black Sea supply disruption due to the Russia-Ukraine conflict. With its earnings track record, Wilmar deserve a better valuation premium to its upstream plantation peers.
Maintain our target price of S$6.67 for Wilmar
- Read more at SGinvestors.io.
Above is the excerpt from report by DBS Group Research.
Clients of DBS may access the full report in PDF @ https://www.dbs.com/insightsdirect/.
William Simadiputra DBS Group Research | https://www.dbs.com/insightsdirect/ 2023-01-11
Read also DBS's most recent report:
2023-10-30 Wilmar International - Banking On Food Product Recovery Trend.
Previous report by DBS:
2023-07-10 Wilmar International - Aiming For Recovery In 2H23.
Price targets by 4 other brokers at Wilmar Target Prices.
Listing of research reports at Wilmar Analyst Reports.
Relevant links:
Wilmar Share Price History,
Wilmar Announcements,
Wilmar Dividends & Corporate Actions,
Wilmar News Articles
