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Company Update � TA Ann (BUY, maintain)
- Plantation taking the lead We believe Ta Ann�s plantation division is likely to take the lead in 2016. The rising FFB and CPO production coupled with better CPO prices should provide future earnings growth for Ta Ann. We made no changes to our 2016-18E earnings, but adjust down our EPS by 16.7% to reflect the 1-to-5 bonus issue. We maintain our BUY rating on Ta Ann with an adjusted TP of RM4.42.
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| For important disclosures, please refer to the Disclosure section at the end of the individual linked research reports. |
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