SINGAPORE (July 30): RHB Research is downgrading Dairy Farm International (DFI) to “neutral” from “buy” with a lower target price of US$9.60.

In a Monday report, RHB analyst Juliana Cai says, “While we are positive on long-term prospects, we expect to see operational expenditure remaining high over the next 12-24 months as it restructures and invest in stores and IT infrastructure.”

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