Stock Name: F & N
Company Name: FRASER AND NEAVE, LIMITED
Company Name: FRASER AND NEAVE, LIMITED
| Research House: CLSA | Price Call: BUY | Target Price: 7.57 |
CLSA has upgraded Singapore’s food and beverage and property conglomerate Fraser and Neave (F&N) (FRNM.SI) to buy from outperform and raised its target price to $7.57 from $6.90.
CLSA said F&N’s share price could be boosted by the expansion of its food and beverage business into new markets such as Indonesia, Thailand and Vietnam, as well as the divestment of non-core assets.
“We believe F&N’s proven model, good products and superior marketing strategy can be replicated in these new markets,” said CLSA.
CLSA said F&N’s share price could be boosted by the expansion of its food and beverage business into new markets such as Indonesia, Thailand and Vietnam, as well as the divestment of non-core assets.
“We believe F&N’s proven model, good products and superior marketing strategy can be replicated in these new markets,” said CLSA.
The brokerage expects F&N to report a three percent rise in its fourth quarter core earnings from a year ago on November 15.
“The results will be supported by healthy earnings from breweries, soft drinks and property development segments, but offset by dairies, due to elevated input costs,” said CLSA in a report.
At 3:05 p.m., F&N shares were 0.49% higher at $6.12, but have fallen 4.5% since the start of the year.
No comments:
Post a Comment