Plantation companies to enjoy good near-term earnings prospects
THE oil palm plantation sector, which is enjoying higher prices on crude palm oil (CPO), looks set to re-rated higher due to its palatable valuations and good near-term earnings prospects.
Hong Leong Investment Bank Bhd (HLIB) analyst Chye Wen Fei said CPO price is expected to remain at elevated levels in the near-term and to trend down more noticeably in 2022 on the back of better vegetable oil supply prospects amid the fresh demand catalyst absence in the next year.
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