The quarter’s gross profit, however, came in lower than expected due to inflationary pressures, writes Ye.
PhillipCapital analyst Vivian Ye has maintained her “buy” recommendation on Del Monte with a higher target price of 63 cents from 62 cents previously.
Ye’s recommendation on March 15 comes as the dual-listed food and beverage (F&B) group saw earnings of US$25.9 million ($35.3 million) for the 3QFY2022 ended January, which exceeded her expectations at 29% of her full-year forecasts.
