The ramp-up in vaccinations and “better containment” of the Covid-19 situation has prompted RHB Group Research to upgrade their rating for Dairy Farm International Holdings (DFI) from “neutral” to “buy”.

“We believe DFI’s current valuation offers a good opportunity for investors seeking to position for a cyclical recovery,” the Singapore research team says in a July 19 research note.

 RHB has kept its US$4.78 target price for the counter unchanged, implying some 17% in upside and 4% in yield.

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