Lim & Tan’s analyst Chan En Jie says that Delfi’s 1HFY2024 results came in below expectations, with revenue and net profit coming in at 46% and 42% of his full year forecast.
Lim & Tan Securities has lowered its target price for Delfi to $1.04 from $1.30, but kept its “accumulate” call on the chocolate manufacturer as it has “attractive yields while awaiting recovery”.
This report follows the group’s 1HFY2024 results, in which CGS International previously also lowered its target price to 93 cents but maintained its “add” call.
