Re: Wilmar 04 (Feb 15 - Dec 20)
Posted: Thu Aug 13, 2020 9:12 am
vested
Wilmar International (WIL SP)
Share Price: SGD4.69
Target Price: SGD5.24
Recommendation: Buy
Rising momentum
WIL’s margins and volumes rose from recovering demand in China. It is also in the final stages of listing in Shenzhen by 2H20 where PE multiples are >2x higher than now.
This also opens up the potential for a special dividend.
We have raised 2020-2022E EPS and updated our peer basket valuations.
Following roll forward of our DCF and peer-PE methodology to 2021E, we have raised our TP to SGD5.24. With 12% upside, maintain BUY.
Source: KE
https://factsetpdf.maybank-ke.com/PDF/1 ... 269bde.pdf
Wilmar International (WIL SP)
Share Price: SGD4.69
Target Price: SGD5.24
Recommendation: Buy
Rising momentum
WIL’s margins and volumes rose from recovering demand in China. It is also in the final stages of listing in Shenzhen by 2H20 where PE multiples are >2x higher than now.
This also opens up the potential for a special dividend.
We have raised 2020-2022E EPS and updated our peer basket valuations.
Following roll forward of our DCF and peer-PE methodology to 2021E, we have raised our TP to SGD5.24. With 12% upside, maintain BUY.
Source: KE
https://factsetpdf.maybank-ke.com/PDF/1 ... 269bde.pdf