Golden Agri on the road to possible recovery

SINGAPORE (Nov 16): OCBC Investment Research is keeping its “hold” recommendation on Golden Agri-Resources, and raising its fair value estimate slightly to 37 cents, from 34 cents previously.

Golden Agri on Monday reported 3Q16 earnings of US$219.7 million ($311 million), compared to a net loss of US$16.4 million in the same quarter last year.

Revenue in 3Q increased up 16.6% y-o-y to US$1.8 billion.

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