“Dairy Farm’s outlook is now challenging and uncertain – in view of the threat of the new COVID-19 variant, and the stringent measures taken by governments in its key North Asia markets, which accounted for 75% of FY2021 total sales,” write RHB’s analysts in a team report.
Dairy Farm International is suffering from a slew of downgrades and, or price target cuts following its FY2021 reports card which shows earnings has declined, dividends have been cut, and outlook remains challenging.
In a March 7 report, RHB Group Research has downgraded Dairy Farm International to “neutral” from “buy”, with a lowered target priuce of US$2.88 from US$4.42 previously.
