The Covid-19 pandemic is slowly improving in some countries, with lockdown measures easing and market activities resuming. This is apparent in coffee products manufacturer and distributor Food Empire’s core markets in Russia and Ukraine.

This means an improvement in mobility trends at shops and the recovery in retail sales.

With that, UOB Kay Hian is remaining positive on Food Empire’s outlook and is keeping a “buy” recommendation on the stock with a target price of 85 cents.

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