The analyst says he is also “upbeat” on its recent expansion into halal restaurant brands and believes the company has the potential for significant growth. “We expect strong growth over FY2023 to FY2025, with profit quickly reverting to pre-pandemic levels despite rising cost inflation,” he says.
RHB Group Research analyst Shekhar Jaiswal has reiterated his “buy” call for Japan Foods Holdings with an increased target price (TP) of 60 cents from 55 cents previously.
In his report dated Nov 18, Jaiswal highlights that the easing of Covid-19 measures since early-2022 was an inflection point for Singapore’s food and beverage (F&B) industry which saw Japan Foods booking “stellar earnings” for 1HFY2023.
