The move comes as the research house cuts its FY18/19 earnings per share (EPS) estimates by 5.9/0.8% to reflect slower sales growth and lower margins, while also introducing FY20F forecasts.
SINGAPORE (Mar 9): CIMB is downgrading its call on Dairy Farm International to “hold” from “add” previously with a lower target price of US$8.40 from US$9.18 after the group’s FY17 core net profit came in below the research house’s expectations, but marginally within consensus.
