In his Jan 18 report, Yeo notes that the F&B Foodservice Index has recovered past pre-pandemic levels.
RHB Bank Singapore analyst Alfie Yeo has a “neutral” rating on Singapore’s downstream food and beverage (F&B) sector, with a “buy” call on Kimly (SGX:1D0
) and a “neutral” call on Japan Foods at target prices of 38 cents and 30 cents respectively.
“Kimly is our sector top pick with valuation at close to -1 standard deviation (s.d.) of its mean price-to-equity ratio (P/E) and growth led by outlet expansion. We are cautious on Japan Food’s FY2025’s ending April 30 profit outlook, on the back of elevated operating costs,” writes Yeo.
