JPMorgan upgrades Wilmar from Neutral to Overweight. It raises target price to S$6.50 from S$5.40.
“We think Wilmar will be able to raise prices in the near term, improving both oilseeds and consumer products margin in 2H11/2012,” citing recent media reports of China removing price controls on cooking oil.
Meanwhile , OCBC retains its Hold call on Wilmar.
