RHB lowers target price for Food Empire on rising costs, but maintains 'buy' call
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
Singapore
RHB lowered its target price for Food Empire to S$1.01 from S$1.13 previously, citing potentially higher operating costs which are likely to result in a temporary dip in group margins until Q1 of FY2022.
The new target price factors in an 11 per cent lower estimate for the group's FY2022 Patmi (profit after tax and minority interests), and is based on 15 times price-to-earnings.
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Copyright SPH Media. All rights reserved.
TRENDING NOW
From 1MDB to ‘corporate mafia’: Is Malaysia facing a new governance test?
Higher costs, lower returns: Why are Singaporeans still betting on real estate?
South-east Asian markets account for 8.8% of global capital inflows from 2021 to 2024: report
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
