F&N started at "reduce" with target price of $2.40 by Phillip

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

Research House: Phillip Securities

Price Call: SELL

Target Price: 2.40

SINGAPORE (Feb 9): Phillip Securities Research has initiated its coverage on Fraser and Neave Ltd (F&N) with a "reduce" rating and a target price of $2.40, as the recent downtrend in the beverage producer's stock still represents a valuations premium to its peers.