Analysts generally still bullish on Wilmar's prospects

Analysts generally still bullish on Wilmar's prospects.

"The result validates our view that Wilmar has the best business model for exposure to volume growth of the edible oils industry," says UBS, which has a $4.70 target.

"Indonesia's palm oil production is likely to pick up strongly and this should benefit Wilmar in terms of higher refining volumes, while lower feedstock prices should lead to improvements in its downstream margins," says Nomura, which retains Buy call, $4.90 fair value.

DBS Vickers expects Wilmar to still benefit from its dominant position in China, robust volume growth, but downgrades rating to Hold from Buy on limited upside to target price of $4.50 following recent run-up.