F & N - F&N target raised to $6.00 by DMG, Keeps at Buy

Stock Name: F & N
Company Name: FRASER AND NEAVE, LIMITED
Research House: DMG

DMG lifts Fraser & Neave (F99.SG) target price to $6.00 from $5.30, pegged at parity-to-RNAV estimate, says Dow Jones. Keeps Buy call.



DMG says recent move by Japan’s Kirin Holdings (2503.TO) to take 14.7% stake in F&N is “watershed event” for Singapore company.



Research house notes Kirin’s aggressive acquisition spree worth US$12 billion ($16.2 billion) over last 4 years underscores strong business commitment to F&N: “We see synergies between F&N and Kirin on two fronts — geography and products.”

DMG says both companies can use each other’s established sales, distribution channels in Australia, China, Japan, Philippines, Asia-Pacific. Adds cooperation in production technologies can broaden product and brand line-ups, improving appeal to changing consumer demand.



Shares off 0.2% at $5.65.