Coverage of high-potential mid-market firms in Poland

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Kernel edible oils upped to accumulate, target price increased to PLN 64.6

TAG'S: KERNEL, Food and Drinks Industries

 

Listed edible oils producer Kernel enjoyed a recommendation hike to 'accumulate' from 'hold' and its target price was increased to PLN 64.6 from PLN 55 previously, DM mBank said in a recommendation dated November 15.

"Crop yields higher by 12% y/y should allow, in our view, to maintain high earnings in the agricultural production segment in the 2016/17 season (USD 150 mln EBITDA)," the report reads. Additionally, new production capacities in sunflower pressing will allow [the firm] to stabilize margins on higher volumes, the brokerage noted.

2016-11-22



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