The analyst notes that since Aug 1, DFI’s share price has dropped by about 11% to US$2.40 due to the less-than impressive macroeconomic data from China and Hong Kong, in line with the recent weakness of China’s market indices and in view of DFI’s exposure to China.
RHB Bank Singapore analyst Alfie Yeo has upgraded his call on DFI Retail Group (DFI) to “buy” from “neutral”, in anticipation of an earnings recovery at a palatable valuation.
Yeo target price remains unchanged at US$2.92 ($3.96), but expects a pick-up in demand in the various markets DFI operates in following an improvement in domestic consumption.
