Stock Name: DairyFarm 900 US$
Company Name: DAIRY FARM INT'L HOLDINGS LTD
Research House: Citigroup
“With above-trend food price increases as well as rising rental and labor costs over the next year, we believe Dairy Farm will be hard pressed to pass along all of its higher input costs to end customers,” said Citi in a report.
Company Name: DAIRY FARM INT'L HOLDINGS LTD
Research House: Citigroup
Citigroup has downgraded Singapore-listed supermarket operator Dairy Farm International (DAIR.SI) to sell from hold and cut its target price to US$7.50 ($9.50) from US$7.70.
Citi has cut its 2011 earnings per share estimates for Dairy Farm by 2.6% to US$0.32 to reflect higher rental, labour and raw material costs.
Citi has cut its 2011 earnings per share estimates for Dairy Farm by 2.6% to US$0.32 to reflect higher rental, labour and raw material costs.
“With above-trend food price increases as well as rising rental and labor costs over the next year, we believe Dairy Farm will be hard pressed to pass along all of its higher input costs to end customers,” said Citi in a report.
At 10:48 a.m., shares of Dairy Farm were flat at US$8.21 and have fallen 11.6% since the start of the year.
No comments:
Post a Comment