KGI Securities Initiates Coverage On Don Agro International With An Outperform Recommendation
SINGAPORE, July 29, 2021 /PRNewswire/ --On 23 July 2021, the sell-side research arm of KGI Securities (Singapore) Pte Ltd initiated coverage on Don Agro International Limited ("Don Agro") and its subsidiaries (collectively the "Group"), one of the largest agricultural companies based in the Rostov region of Russia, with an Outperform recommendation and a DCF-backed 12-month target price of S$0.64.
- SINGAPORE, July 29, 2021 /PRNewswire/ --On 23 July 2021, the sell-side research arm of KGI Securities (Singapore) Pte Ltd initiated coverage on Don Agro International Limited ("Don Agro") and its subsidiaries (collectively the "Group"), one of the largest agricultural companies based in the Rostov region of Russia, with an Outperform recommendation and a DCF-backed 12-month target price of S$0.64.
- Market Leadership in the Rostov Region, Russia.Don Agro has been operating as a single entity for more than 10 years, a result of the privatisation of five collective farms.
- With the purchase of Volgo-Agro LLC in 4Q2020, Don Agro added around 10,040 hectares to its land bank, increasing it by 19% to 63,240 hectares as at end-2020.
- Don Agro's key products (wheat, sunflower, corn, and raw milk) are witnessing global demand growth.