Delfi - CGS-CIMB Research 2021-11-17: Hoping To Lift Moods In 4Q21

Delfi - Hoping To Lift Moods In 4Q21

DELFI LIMITED (SGX:P34) | SGinvestors.ioDELFI LIMITED (SGX:P34)
  • Delfi (SGX:P34)'s 9M21 revenue of US$297.5m in line at 72% of FY21F, with festivities in 4Q21 likely to accelerate business momentum. 3Q net profit was not disclosed.
  • Tight controls on working capital further improved Delfi's cash position to US$79.0m from US$65.5m for 9M21 despite paying down US$39.8m in borrowings.
  • Reiterate ADD call on Delfi with unchanged target price of S$1.02, valued at 20x FY22F P/E (3- year historical average) with earnings recovery under way. 3Q21 set a new base for profitability after Indonesia experienced peak infections in the quarter.



Above is the excerpt from research report by CGS-CIMB.
Clients of CGS-CIMB may access the full report in PDF @ https://www.itradecimb.com.sg/.



TAY Wee Kuang CGS-CIMB Research | https://www.cgs-cimb.com 2021-11-17
SGX Stock Analyst Report ADD MAINTAIN ADD 1.020 SAME 1.020




Previous report by CGS-CIMB:
2021-09-28 Delfi - Biding Time For Growth

Relevant links:
Delfi Analyst Report,
Delfi Target Price,

Delfi Share Price History,
Delfi Announcements,
Delfi Dividends/ Corp Actions,
Delfi News Articles





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