UBS cut its assumed price for palm oil by 16% for '08, 28% for '09, 21% for '10 and 13% for '11.
"We remain negative on the sector," analyst Alain Lai wrote in a note to clients.
Wilmar International: UBS lowered its price target to $4.70 from $5, and maintained its "buy" rating on the stock.
Indofood Agri Resources: UBS cut its price target on the palm oil unit of Indonesia's biggest noodle maker to $1.38 from $2.01, and maintained its "neutral" rating.
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