SINGAPORE (Oct 17): UOB Kay Hian is initiating coverage on Japfa at “buy” with a target price of 90 cents or 12.2 times FY18F earnings, compared to 13.6 times by peers.

In a Wednesday report for the retail market, analyst John Cheong says the industrial agri-food company as a deeply undervalued stock on a strong turnaround path and expects FY18 net profit to increase by more than 500% y-o-y.

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