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Khon Kaen Sugar Industry
2014-09-23 10:52:38| Sugar Industry News
The key messages at the analyst meeting were in-sync with our view of the outlooks for global sugar prices and for KSL. An earnings recovery in 4Q14 and better performances by the ethanol and power units next year in tandem with improved sugar demand-supply dynamics and a sugar price recovery in 2H15 will lend support to the stock. Thus, share price downside risk from here appears limited. Our BUY rating stands, premised on a strong FY15 earnings growth profile and a cheap valuationKSL currently trades at an FY15 PER of 10.3x, far below its long-term mean of 15.8x and the regional peer average of 14.6x.
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Category:Chemicals