Brokers' view: Shore Capital
Over at 14 Clifford Street, Phil Carroll is a fan of New Britain Palm Oil following a recent first-quarter update. Noting the ‘continuing strength in the crude palm oil price’ the broker has upgraded its forecasts for the year to December 2011.
Its crude palm oil extraction rate expectation has been raised to 23 per cent from 22.75 per cent, also increasing the average sale price for crude palm oil from $1,000 to $1,075.
As a result, Carroll is forecasting adjusted pre-tax profits of $258.3 million, noting that the rise in the price of the commodity is backed by ‘rising demand in both less developed emerging markets and the developed nations’.
Be in Bwin to win
The broker is also a fan of online gambling company Bwin Party.
Despite some recent troubles with Germany, analyst Karl Burns argues that the ‘downside risk to the share
price is limited from here’, adding that the risk-reward profile is ‘turning more favourable’.
Furthermore, he adds that there is ‘upside potential for new licences from cash poker and casino games in Italy. The shares retain their buy rating from Shore.
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