Reuters: Hot Stocks: STOCKS NEWS SINGAPORE-Credit Suisse upgrades Indofood Agri

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STOCKS NEWS SINGAPORE-Credit Suisse upgrades Indofood Agri Apr 10th 2012, 01:37 Mon Apr 9, 2012 9:37pm EDT Credit Suisse upgraded palm oil firm Indofood Agri Resources Ltd (IFAR) to outperform from neutral and raised its price target to S$1.90 from S$1.67. IFAR shares were up 0.7 percent at S$1.53, having risen 21 percent so far this year. Credit Suisse increased its earnings per share estimates for IFAR's 2012-2014 fiscal years by 5-9 percent respectively. It said every 100 ringgit ($32.6) increase in crude palm oil (CPO) price will boost IFAR's earnings by 4.6 percent. "IFAR is now the cheapest plantation company under our coverage. We believe IFAR's high earnings sensitivity to CPO price, its higher liquidity, and its relatively undemanding valuation will bolster its trading multiple to re-rate." 0930 (0130 GMT) (Reporting by Eveline Danubrata in Singapore; eveline.danubrata@thomsonreuters.com) *********************************************************** 08:46 STOCKS NEWS SINGAPORE-Singapore index futures edge lower Singapore index futures were down 0.1 percent, indicating a lower start for the benchmark Straits Times Index . Two major bourses in Asia opened higher on Tuesday with Nikkei index rising 0.5 percent and Korea Composite Stock Price Index gaining 0.1 percent. However, investors are likely to a keep an eye on trade data from China, the world's second-largest economy. 0840 (0040 GMT) (Reporting by Eveline Danubrata in Singapore; eveline.danubrata@thomsonreuters.com) ($1 = 3.0715 Malaysian ringgits) Link this Share this Digg this Email Reprints

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