PhillipCapital Research analyst Paul Chew has kept a “buy” rating on Del Monte with an unchanged target price of 69 cents, pegged to a 10x FY2022 ended April P/E, a 30% discount to the industry valuation due to its smaller market cap and higher gearing.This comes on the back of the group’s rec...

CANNED food brand Del Monte Pacific will “selectively” raise the price of its products across its markets in the US and the Philippines in October amid higher margin pressure brought about by higher costs and inflationary pressures, company executives said on Friday (Sep 9). 

THE following companies saw new developments that may affect trading of their securities on Friday (Sep 9):

CANNED food brand Del Monte Pacific on Thursday (Sep 8) posted a net loss of US$30.5 million for the first quarter ended Jul 31, compared to a net profit of US$18.3 million a year ago, after a one-off US$71.9 million expense for the redemption of notes.

Damned if you do and damned if you don’t. This is a terrible year for many research analysts, market strategists and stock market pundits as they gaze into their crystal balls in a futile bid for better clarity.A “bear market rally” in July caught most fund managers and private bankers off gua...

Del Monte Foods, the US subsidiary of dual-listed Del Monte Pacific Limited, has acquired Kitchen Basics for US$99 million ($136.7 million).The assets acquired comprise intellectual property and inventory. No property, plant and/or equipment were acquired.The consideration was established through an...

DUAL-LISTED Del Monte Pacific on Thursday (Aug 4) announced that its US subsidiary has acquired for US$99 million the intellectual property and inventory associated with the Kitchen Basics brand of ready-to-use stock and broth from McCormick & Company.

THE following companies saw new developments that may affect trading of their securities on Thursday (Aug 4):

In recent times, the global economy has been facing a downward spiral of demand destruction, caused by a duet of higher inflation and interest rates.Higher inflation is outpacing income, shrinking household budgets and confidence levels, observes PhillipCapital analyst Paul Chew.Chew explains that f...

PhillipCapital’s head of research Paul Chew has maintained his “buy” rating and raised his target price on Del Monte to 69 cents, up from his previous figure of 63 cents.Del Monte’s patmi for the 4QFY2022 ended April, which jumped 38% y-o-y to US$20.0 million ($27.7 million), surpassed Chew�...

THE following companies saw new developments that may affect trading of their securities on Friday (Jun 24):

CANNED food brand Del Monte Pacific on Thursday (Jun 23) posted earnings of US$20 million for the fourth quarter ended April, up 37.8 per cent from earnings of US$14.5 million in the corresponding year-ago period. 

DEL Monte Pacific’s US subsidiary Del Monte Foods Inc (DMFI) has raised US$600 million through a 7-year term loan B facility which matures in 2029.

Almost every sector in the Straits Times Index (STI) enjoys a tailwind,” he says.First, bank earnings are set to enjoy a huge lift upon entering an interest rate cycle, as a 100 basis point rise in rates can increase earnings by around 18%. “We believe the three domestic banks have excess deposi...

PhillipCapital analyst Vivian Ye has maintained her “buy” recommendation on Del Monte with a higher target price of 63 cents from 62 cents previously. Ye’s recommendation on March 15 comes as the dual-listed food and beverage (F&B) group saw earnings of US$25.9 million ($35.3 million) for ...