"We expect Vinamilk to continue to drive over 40% of the group’s EBIT moving forward," says analyst Soh Lin Sin.
SINGAPORE (Feb 13): Phillip Capital is maintaining Fraser and Neave at "accumulate" with SOTP-based target price of $2.83 given its strong start into the year despite absence of Lunar New Year boost.
Phillip also expects FY18 forecast earnings to be supported by higher profit share from Vietnam Dairy Products Joint Stock Company or Vinamilk with full 12 months contribution in FY18, and benefits from restructuring initiatives to be realised.
