SINGAPORE (June 10): As most markets are now emerging from the Covid-19-induced lockdowns, Dairy Farm International’s near-term prospects are looking better, according to CGS-CIMB analyst Cezzane See.

As such, she has upgraded Dairy Farm International to “hold” from “reduce”, and raised its target price to US$5.45 from US$4.38, previously. The new target price represents a 9.0% upside on the counter.

See has raised Dairy Farm’s price-to-earnings ratio (P/E ratio) to 20x FY21F earnings per share (EPS) from some 17x.

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