0552 GMT - Oiltek International is well-positioned to benefit from rising palm-oil production in Indonesia and Malaysia, Lim & Tan Securities' analyst Nicholas Yon writes in a research report. This growth is largely driven by government mandates for higher biodiesel blends, and the company addresses this demand with its patented technologies and innovative solutions, the analyst notes. Additionally, a key growth driver for the vegetable and edible oil process engineering company is the production of sustainable aviation fuel, which is gaining traction amid global efforts to achieve net-zero emissions by 2050, the analyst adds. The brokerage initiates coverage of the stock with a buy rating and a target price of S$1.21. Shares are up 2.6% at S$0.985. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
December 09, 2024 00:52 ET (05:52 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.