RHB Group Research analyst Jarick Seet has kept his “buy” call for Food Empire Holdings with an unchanged target price of $1.27 as he sees stronger quarters ahead for the company.

“We believe that the worst is over for Food Empire in 2020, with 1Q2021 likely to be the weakest quarter for FY2021,” he says in a July 7 research note.

Seet’s sanguine outlook for Food Empire’s FY2021 ending December is underpinned by the "strong sequential improvement" the company has shown from 2Q2020 on the back of stable demand for instant coffee products. “We expect demand to remain resilient, and increase in FY2021, especially in 2Q-3Q2021,” Seet says.


To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook