Omicron threat draws mixed reactions from analysts covering Dairy Farm

Singapore

AS THE latest Covid-19 variant Omicron continues to spread through the key operating markets of Dairy Farm International (DFI), RHB Research has downgraded its rating on the mainboard-listed retail group to "neutral" from "buy".

The move comes after DFI posted a 62 per cent decline in net profit on the back of lower revenue amid the pandemic, which constrained the group's normal store operations and reduced traffic.

RHB's lower price target of US$2.88 compared to US$4.42 previously implies 18 times FY2022 price-to-earning…

GET BT IN YOUR INBOX DAILY

Start and end each day with the latest news stories and analyses delivered straight to your inbox.

Sign UpVIEW ALL