SINGAPORE (May 6): RHB is keeping Japan Foods on “neutral” with a new target price of 35 cents, down from 40 cents previously as it expects near-term earnings weakness caused by the circuit breaker measures.

In a Wednesday report, analyst Shekhar Jaiswal says, “We expect FY21 (Mar) earnings for the food & beverage (F&B) unit to stay under pressure amidst the ongoing social distancing adoption.”

See: Appetite grows for Japan Foods' brand despite concerns about its joint ventures

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