Analysts have downgraded and cut their target prices for Dairy Farm International Holdings (DFI) after it reported an 85% y-o-y drop in its 1HFY2021 ended June earnings.

See: Dairy Farm International sees 85% drop in 1H21 earnings to US$17 mil on ongoing Covid-19 headwinds

DBS Group Research has downgraded its call from “buy” to “hold”, with analyst Woon Bing Yong dropping his target price from US$4.78 ($6.47) to US$3.96.

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