poultry stocks

Don't chicken out of Japfa over broiler price declines, says Maybank

SINGAPORE (April 2): Maybank Kim Eng is maintaining “buy” on Japfa with an unchanged price target of $1.05 despite recent declines in Indonesian poultry stocks, due to market fears of oversupply after broiler prices declined further in March.

In a Tuesday report, analyst Neel Sinha says these concerns are likely overblown, as he concurs with Japfa’s management theories that the broiler price correction has more to do with seasonal weak demand rather than oversupply.

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