KUALA LUMPUR (Feb 3): SIME DARBY BHD []’s share price extended its gains in the afternoon session on Friday, buoyed by a positive outlook from JP Morgan Research Asia Pacific Equity Research.
At 2.38pm, it was up 27 sen to RM9.55 with 6.51 million shares done.
The FBM KLCI rose 1.53 points to 1,538.62. Turnover was 1.39 billion shares valued at RM1.09 billion. There were 302 gainers, 456 losers and 339 stocks unchanged.
The research house said its sum-of-the-parts (SoTP) based target price of RM10.40, assuming the 2012 crude palm oil forecast of RM2,850 per tonne.
“On the upside, we reiterate that a sustained global recovery could lift 2012E CPO prices to R$3,200 a tonne and our SoTP to RM11.60,” it said.
At 2.38pm, it was up 27 sen to RM9.55 with 6.51 million shares done.
The FBM KLCI rose 1.53 points to 1,538.62. Turnover was 1.39 billion shares valued at RM1.09 billion. There were 302 gainers, 456 losers and 339 stocks unchanged.
The research house said its sum-of-the-parts (SoTP) based target price of RM10.40, assuming the 2012 crude palm oil forecast of RM2,850 per tonne.
“On the upside, we reiterate that a sustained global recovery could lift 2012E CPO prices to R$3,200 a tonne and our SoTP to RM11.60,” it said.
