In its interim statement for the 3QFY2021 ended September, the group shared that its overall results were lower y-o-y due to the significant impact from the Covid-19 pandemic.
CGS-CIMB Research analysts Ong Khang Chuen and Kenneth Tan have maintained “hold” on Dairy Farm International (DFI) in view of the challenging operating environment for the time being.
Ong and Tan have also cut their target price estimate on DFI to US$3.50 ($4.75) from US$3.80, which is still based on 18.5 times price-to-earnings (P/E) for 2022, 1 standard deviation (s.d.) below DFI’s five-year historical mean.
