DFI Retail Group - DBS Research 2022-12-13: Man The Counters, Tourists Returning!

• 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 an excerpt from a report by DBS Group Research.
Clients of DBS may access the full PDF report @ https://www.dbs.com/insightsdirect/.

Read also DBS's most recent report:
2025-03-12 DFI Retail Group - Balancing Value, Growth & Strategic Investments.

Previous report by DBS:
2024-09-26 DFI Retail Group - Share Price Rally Has Just Begun; Transformation Accelerates With Yonghui Sale.

Price targets by 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 Dividend Payout Dates & Corporate Actions,
DFI Retail News