IOI Corp, KL Kepong upgraded at Maybank

IOI Corp and Kuala Lumpur Kepong Bhd (KL Kepong), two Malaysian palm oil producers, were upgraded at Maybank Investment Bank Bhd on earnings growth prospects.

IOI’s stock rating was raised to “hold” from “sell” and its share estimate increased to RM5.20 from RM4.70, Maybank analyst Tan Chi Wei said in a report today.

KL Kepong was upgraded to “buy” from “hold,” and its target price raised to RM18 from RM15. - Bloomberg