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CGS-CIMB starts Delfi at 'add', expects sales momentum to grow beyond pre-Covid-19 levels

Khairani Afifi Noordin
Khairani Afifi Noordin9/13/2021 1:55 PM GMT+08  • 3 min read
CGS-CIMB starts Delfi at 'add', expects sales momentum to grow beyond pre-Covid-19 levels
CGS-CIMB Research analyst Tay Wee Kuang has initiated “add” on chocolate confectionery company Delfi
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CGS-CIMB Research analyst Tay Wee Kuang has initiated “add” on chocolate confectionery company Delfi with a target price of $1.02, representing a 32.1% upside to the counter’s last-closed price of 775 cents.

Citing Euromonitor, Tay notes that Delfi commands about 40% of Indonesia’s chocolate confectionery market based on retail value in 2020. One of its flagship brands, SilverQueen, is also the leading brand in the nation.

See also: DBS ups Delfi's TP to $1.06 on cautious optimism for FY2022

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