HALISTER1: China Agri-Industries Extends Gain as UBS Upgrades on Turnaround

China Agri-Industries Extends Gain as UBS Upgrades on Turnaround

(Bloomberg) -- China Agri-Industries turnaround expected to start in 2H16 on improving supply/demand dynamics for soybean-crushing and corn-processing divisions, UBS said in note dated Oct. 14.
  • Continued recovery in sugar price should drive further upside for biochemical profitability in addition to cost benefits from cheaper corn prices
    • Expects potential transfer of China Foods’ consumer edible oil business to China Agri in 2017
    • Share underperformance since 2014 likely to reverse
    • Raised to buy, PT raised to HK$3.63 vs HK$2.20
  • China Agri posts 3-day 6.8% gain
    • NOTE: 5 buy, 1 hold ratings, avg PT HK$3.33: Bloomberg data
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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606 HK (China Agri-Industries Holdings Ltd)

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