Brokers' take
Dairy Farm > Hold DBS Group Research, July 27 July 27 close: US$9.15 Target price: US$9.35
WE believe Dairy Farm's outlook will be relatively slower on higher operating costs; more time needed to turn around the supermarket or hypermarket business; and lower contribution from Yonghui going forward.
Catalysts include faster than expected earnings turnaround from Yonghui and Dairy Farm's core business, but will depend on successful implementation of strategies by new CEO Ian McLeod.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Block raises annual forecast on resilient consumer spending
Live Nation’s revenue beats estimates as boom in concerts drive ticket sales
Apple profit ebbs as iPhone sales under pressure
DBS customers unable to log into digibank, PayLah! on Thursday
NYSE-parent ICE’s revenue misses as muted IPO markets offset record energy trading
Amazon bets big with CrowdStrike on cybersecurity products