They expect Delfi’s earnings to grow 20% in FY2022 and 10% in FY2023 as Indonesia’s economy and consumers emerge stronger from the pandemic.
UOB Kay Hian Research has initiated coverage for chocolate manufacturer Delfi with a “buy” rating and a target price (TP) of $1.42.
In their report dated Feb 17, analysts John Cheong and Heidi Mo note that Delfi is an “undervalued” leader in Indonesia’s chocolate products market with a “dominant” share of the market.
