Reuters: Hot Stocks: STOCKS NEWS SINGAPORE-CIMB prefers Noble to Olam

Reuters: Hot Stocks Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

STOCKS NEWS SINGAPORE-CIMB prefers Noble to Olam May 25th 2012, 01:32 Thu May 24, 2012 9:32pm EDT CIMB Research said it prefers commodity trading firm Noble Group to its peer Olam International Ltd due to its favourable earnings outlook. Noble earlier this month posted a 46 percent fall in its first quarter net profit to $110.1 million. Olam shares were up 0.9 percent to S$1.70 on Friday, but have dropped 20 percent since the start of the year. Noble gained 1.4 percent to S$1.075, but has lost 4.4 percent in 2012. The benchmark Straits Times Index gained 5 percent in the same period. CIMB expects Noble's earnings to continue improving for the rest of the year, buoyed by its newly expanded sugar mills, which will contribute $200 million more in annual earnings at full capacity. Noble's earnings from its sugar business will also grow at a faster pace in the second to fourth quarter as the harvest season begins, CIMB said. It has an outperform rating on Noble with a target price of $1.42, and an outperform on Olam and a target price of S$2.61. CIMB estimates Noble's core earnings per share to grow 81.8 percent for this year, compared to 14.5 percent for Olam. For related story click 0919 (0119 GMT) (Reporting by Charmian Kok in Singapore; charmian.kok@thomsonreuters.com) ************************************************************ 8:42 STOCKS NEWS SINGAPORE-Index futures up 0.3 pct Singapore index futures were up 0.3 percent, indicating the benchmark Straits Times Index is likely to rise. Asian shares inched higher on Friday, helped by a slight uptick in U.S. shares overnight that encouraged investors to return cautiously to buy up bargains after recent slides, but weak global data and Europe's fiscal woes limited the gains. To read a related story, click (Reporting by Charmian Kok in Singapore; charmian.kok@thomsonreuters.com) Link this Share this Digg this Email Reprints

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions