Goldman Sachs raises Wilmar target price

Goldman Sachs raises Wilmar target price to $6.40 from $6.20; reiterates Buy rating. Broker says target price change reflects earnings adjustments post 1H08 results; raises FY08-FY10 earnings estimates by 4%-5% due to increase in sales volumes for downstream products. Notes volumes strong in 1H08, tend to be seasonally stronger in 2H. Adds company confident on downstream margins, believes decline in CPO price may be supportive factor, also makes biodiesel margins more favourable; company's biodiesel plant fully utilized, may consider expanding capacity.