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2H recovery still in sight for Delfi, says CIMB

Michelle Zhu
Michelle Zhu5/11/2017 11:34 AM GMT+08  • 2 min read
2H recovery still in sight for Delfi, says CIMB
SINGAPORE (May 11): CIMB Research is maintaining its “hold” recommendation on chocolate confectionery distributor Delfi with an unchanged target price of $2.30, despite the group’s slow start to FY17F with its 1Q results falling short of the researc
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SINGAPORE (May 11): CIMB Research is maintaining its “hold” recommendation on chocolate confectionery distributor Delfi with an unchanged target price of $2.30, despite the group’s slow start to FY17F with its 1Q results falling short of the research house’s expectations.

(See also: Delfi 1Q earnings fall 33% to US$5.6 mil)

In a report on Tuesday, analyst Jonathan Seow opines that the group’s 1Q results miss was more of a quarterly blip rather than reflective of a structural change, which resulted mainly from its sales decline in Indonesia.

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