UOB Kay Hian Research analyst Adrian Loh has initiated coverage on Dairy Farm International Holdings with a ‘buy’ rating and a target price of US$5.19 ($6.92), implying 23% upside from current levels.

In a research note dated April 19, Loh says that Dairy Farm is a play on Asia’s developed and emerging markets, with upside from the rising consumer spending power of its middle class. 

Have a premium account? Sign in to continue reading.

Unlimited access to all stories from $99.9/year*

The latest reporting and analysis from business and investments to news and views on social issues.

Bonus:

  • Simultaneous logins across all devices
  • Instant access to past digital issues
  • Unlimited access to The Edge Malaysia
  • *For annual subscription plan only. T&Cs apply

Subscribe

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook