“In terms of valuation the stock is now trading at 22x FY19F P/E, similar to the peer average,” she adds.
SINGAPORE (May 30): RHB Group Research is downgrading Dairy Farm International Holdings to “neutral” from “buy” as its share price edges closer to the target price of US$8.25.
“In view of the escalating uncertainties brought forth by the ongoing US-China trade war, and that the share price has rebounded from the low of US$7.34 in March this year, we think the stock is now fairly valued,” says analyst Juliana Cai in a Wednesday report.
