Stock Name: BreadTalk
Company Name: BREADTALK GROUP LIMITED
“Its recent joint venture announcements (in China) have reiterated its continuous commitment to expansion as well as enhance its operational capabilities,” said OCBC in a report.
Company Name: BREADTALK GROUP LIMITED
| Research House: OCBC | Price Call: BUY | Target Price: 0.74 |
OCBC Investment Research has cut its target price for Singapore’s Breadtalk, which sells bread and pastries, to $0.66 from $0.74, but kept its buy rating.
OCBC has cut its target price for Breadtalk due to its lack of trading activity, but it remains positive on the firm’s prospects and expansion plans in China.
OCBC has cut its target price for Breadtalk due to its lack of trading activity, but it remains positive on the firm’s prospects and expansion plans in China.
“Its recent joint venture announcements (in China) have reiterated its continuous commitment to expansion as well as enhance its operational capabilities,” said OCBC in a report.
The brokerage added that Breadtalk is unlikely to be affected by food inflation as prices of wheat, its key ingredient, fell 21% in June, which would help mitigate the rising costs of other raw materials such as vegetable oil.
At 9:35 a.m., shares of Breadtalk were flat at $0.60, and have fallen 6.3% since the start of the year.
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