SINGAPORE (May 6): RHB is keeping Japan Foods on “neutral” with a new target price of 35 cents, down from 40 cents previously as it expects near-term earnings weakness caused by the circuit breaker measures.
In a Wednesday report, analyst Shekhar Jaiswal says, “We expect FY21 (Mar) earnings for the food & beverage (F&B) unit to stay under pressure amidst the ongoing social distancing adoption.”
