RHB Group Research analyst Jarick Seet has kept “buy” on Food Empire with a lower target price of $1.23 from $1.27 as he rolls his price-to-earnings (P/E) to 15 times FY2022.

This, he says, is to reflect a more accurate PATMI on a normalised basis.

He has also lowered his PATMI estimates for the FY2021 by 14% due to the surge in the cost of goods sold (COGS), which Seet believes, is temporary.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Related Stories

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook