Brokers' take

Dairy Farm International | BUY

March 10 close: US$5.90

Target price: US$7.03

DBS Group Research, March 10

Dairy Farm International (DFI) has been investing in IT, procurement and supply chain, and we expect this to at least yield some results by FY17 forecast.

We have already seen better inventory numbers in FY15 and we believe this should continue going into FY17 forecast. On the demand side, DFI will drive average unit volume growth via building products and brands that identify with customers. . .

Our target price of US$7.03 is derived from sum-of-parts valuation methodology.…