- We maintain our BUY recommendation on DFI Retail Group (SGX:D01) with a higher target price of US$3.90. Given the increased visibility of China re-opening, we adjusted earnings upwards and used a FY22F/FY23F blended earnings valuation to account for reopening upside.
- - Read this at SGinvestors.io -
What happened in the last month?
- Recently, China announced easing its COVID restrictions. The shift from its zero-COVID stance sends a positive signal of imminent opening of international borders, with China-Hong Kong border reopening amongst the first.
- - Read this at SGinvestors.io -
How DFI will benefit from border reopening?
- Read more at SGinvestors.io.
Above is the excerpt from report by DBS Group Research.
Clients of DBS may access the full report in PDF @ https://www.dbs.com/insightsdirect/.
Andy SIM CFA DBS Group Research | Singapore Research Team DBS Research | https://www.dbs.com/insightsdirect/ 2022-12-13
Read also DBS's most recent report:
2023-07-31 DFI Retail Group - Up, Up & Away; Health & Beauty Was The Star.
Previous report by DBS:
2023-04-24 DFI Retail Group - Sum Of The Parts Worth More Than The Whole.
Price targets by 3 other brokers at DFI Retail Target Prices.
Listing of research reports at DFI Retail Analyst Reports.
Relevant links:
DFI Retail Share Price History,
DFI Retail Announcements,
DFI Retail Dividends & Corporate Actions,
DFI Retail News Articles
