- We continue to see DFI Retail Group (SGX:D01) as a recovery play with attractive dividends. We anticipate a recovery in FY24 – driven by an expected pick-up in demand in the various markets, and improving domestic consumption.
- - Read this at SGinvestors.io -
- DFI Retail's share price currently trades at an attractive 13x FY24F P/E vs our implied target P/E of 17x.
FY24F recovery remains intact.
- Our investment thesis on DFI Retail is based on earnings recovery (18% earnings CAGR growth from FY23 to FY25) at a compelling valuation. We see earnings driven by sturdy domestic consumption and a pick-up in tourism in Hong Kong, on top of the continued economic recovery in ASEAN and China.
- - Read this at SGinvestors.io -
3Q23 in line.
- Read more at SGinvestors.io.
Alfie Yeo RHB Securities Research | https://www.rhbgroup.com/ 2023-12-11
Read also RHB's most recent report:
2024-03-12 DFI Retail Group - Core Business Recovering; Keep BUY.
Price targets by 2 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
