Brokers' Digest 957

Transformation gains traction
Dairy Farm International’s (DFI) multi-year transformation is “tracking well”. With better margins already seen in its 1HFY2020 supermarket business, the regional retail giant is poised for better operating efficiencies and thus a re-rating, say DBS Group Research analysts Alfie Yeo and Andy Sim in an Oct 23 note. They have kept their ‘buy’ call and US$4.44 ($6.04) target price on regional retail giant.