Del Monte Pacific kept at 'Add' with 63 cents price target by CIMB

Stock Name: Del Monte Pac
Company Name: DEL MONTE PACIFIC LIMITED

Research House: CIMB

Price Call: BUY

Target Price: 0.63

SINGAPORE (Dec 2): CIMB Research is calling an "add" on Del Monte Pacific Limited (DMPL) with an unchanged target price of 63 cents.

In a report dated Nov 27, CIMB analyst William Tng says DMPL is not an appropriate investment for the short term as the company is expected to turnaround only in FY16 while the company's efforts to reduce gearing are still ongoing.