Nonetheless, the company, which is actively expanding its number of outlets, might just "yield an upside surprise."
RHB Bank Singapore's Shekhar Jaiswal has downgraded Japan Foods Holdings to "neutral" from "buy" after it reported lower-than-expected earnings for 1HFY2024 on higher costs.
Along with the downgrade, Jaiswal, in his Dec 8 note, cut his target price for the company, led by chairman and CEO Takahashi Kenichi (picture), to 30 cents from 45 cents.
