Brokers’ Take: CGS-CIMB Lowers Target Price of DFI Retail Group With Bumpy Recovery Ahead

The Business Times2022-06-27

CGS-CIMB on Monday (Jun 27) lowered its target price for DFI Retail Group to US$2.70 from US$2.93 amid a continued challenging operating environment, though it still maintains a “hold” position on the...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

339742f5
2022-06-27
339742f5
Ok
YueShan
2022-06-27
YueShan
Ok
Berloh
2022-06-27
Berloh
The group has lost its directions out of the HK market. Will they relook at their value proposition in Singapore and Malaysia?

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/1187230025?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2022-06-27 11:22","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1187230025","market":"sg","top_or_hot":-1,"title":"Brokers’ Take: CGS-CIMB Lowers Target Price of DFI Retail Group With Bumpy Recovery Ahead","media":"The Business Times","content":"<div>\n<p>CGS-CIMB on Monday (Jun 27) lowered its target price for DFI Retail Group to US$2.70 from US$2.93 amid a continued challenging operating environment, though it still maintains a “hold” position on the...</p>\n\n<a href=\"https://www.businesstimes.com.sg/companies-markets/brokers-take-cgs-cimb-lowers-target-price-of-dfi-retail-group-with-bumpy-recovery\">Source Link</a>\n\n</div>\n","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Brokers’ Take: CGS-CIMB Lowers Target Price of DFI Retail Group With Bumpy Recovery Ahead</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBrokers’ Take: CGS-CIMB Lowers Target Price of DFI Retail Group With Bumpy Recovery Ahead\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-06-27 11:22 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.businesstimes.com.sg/companies-markets/brokers-take-cgs-cimb-lowers-target-price-of-dfi-retail-group-with-bumpy-recovery><strong>The Business Times</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>CGS-CIMB on Monday (Jun 27) lowered its target price for DFI Retail Group to US$2.70 from US$2.93 amid a continued challenging operating environment, though it still maintains a “hold” position on the...</p>\n\n<a href=\"https://www.businesstimes.com.sg/companies-markets/brokers-take-cgs-cimb-lowers-target-price-of-dfi-retail-group-with-bumpy-recovery\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"D01.SI","symbol_name":"牛奶国际控股有限公司","start_time":0,"source_url":"https://www.businesstimes.com.sg/companies-markets/brokers-take-cgs-cimb-lowers-target-price-of-dfi-retail-group-with-bumpy-recovery","article_id":"1187230025","we_media_id":null,"thumbnails":[],"rights":{"source":null,"url":"https://www.businesstimes.com.sg/companies-markets/brokers-take-cgs-cimb-lowers-target-price-of-dfi-retail-group-with-bumpy-recovery","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=1187230025","pubTimestamp":1656300145,"columns":[],"sourceInfo":null,"weMediaInfo":null,"summary":"CGS-CIMB on Monday (Jun 27) lowered its target price for DFI Retail Group to US$2.70 from US$2.93 am","collect":0,"end_time":0,"defaultTopTitle":"businesstimes.com.sg","property":[],"viewcount":null,"language":"en","relate_stocks":{"D01.SI":"牛奶国际控股有限公司"},"translate_title":"券商观点：CGS-CIMB下调DFI零售集团目标价，复苏坎坷","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"D01.SI":0.9},"content_text":"CGS-CIMB on Monday (Jun 27) lowered its target price for DFI Retail Group to US$2.70 from US$2.93 amid a continued challenging operating environment, though it still maintains a “hold” position on the counter.The new target price implies a price-to-earnings ratio (P/E) of 16 times for FY2023, following a cut in earnings per share (EPS) estimates from FY2022 to FY2024 by 1.1 percent to 52.6 percent to account for lower revenue and margin assumptions.While CGS-CIMB analysts Ong Khang Chuen and Kenneth Tan are of the view that “the worst is likely over” for Hong Kong retail sales with the easing of pandemic restrictions and the rolling out of the Hong Kong’s Consumption Voucher Scheme, they believe a “bumpy path to recovery” still lies ahead for DFI.The analysts foresee “significant” challenges to near-term border reopening.“We further delay our recovery expectations for DFI’s Health and Beauty segment (which were) the biggest earnings contributor for DFI pre-Covid, as we think it is unlikely to see a meaningful return of Chinese tourists in FY2022,” they add.Additionally, the research team predicts weaker margins for DFI in FY2022 due to various macro challenges including higher pandemic-related costs, supply chain constraints and higher utility expenses.Also noting DFI’s intent to further invest in e-commerce, the analysts expect “elevated” expenses in the medium term and forecast DFI’s operating margin to see further compression of 1.1 percentage points year on year in FY2022 and operating profit to reduce by 32 percent year on year.While the research team sees upside in the potential turnaround in DFI’s associate Yonghui with a forecasted return to profitability in FY2022, they believe it is “not enough to turn the tide”, and expect DFI’s net profit to fall 17 percent year-on-year in FY2022.Shares of DFI were trading at US$2.92, down US$0.05 or 1.7 percent, as at 10.40 am on Monday.","kind":"news","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[{"id":9046147839,"gmtCreate":1656319237421,"gmtModify":1676535805425,"author":{"id":"4108913771261690","authorId":"4108913771261690","name":"339742f5","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":12,"crmLevelSwitch":0,"idStr":"4108913771261690","authorIdStr":"4108913771261690"},"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9046147839","repostId":1187230025,"repostType":4,"repost":{"id":"1187230025","kind":"news","pubTimestamp":1656300145,"share":"https://ttm.financial/m/news/1187230025?lang=en_US&edition=fundamental","pubTime":"2022-06-27 11:22","market":"sg","language":"en","title":"Brokers’ Take: CGS-CIMB Lowers Target Price of DFI Retail Group With Bumpy Recovery Ahead","url":"https://stock-news.laohu8.com/highlight/detail?id=1187230025","media":"The Business Times","summary":"CGS-CIMB on Monday (Jun 27) lowered its target price for DFI Retail Group to US$2.70 from US$2.93 am","content":"<html><head></head><body><p>CGS-CIMB on Monday (Jun 27) lowered its target price for DFI Retail Group to US$2.70 from US$2.93 amid a continued challenging operating environment, though it still maintains a “hold” position on the counter.</p><p>The new target price implies a price-to-earnings ratio (P/E) of 16 times for FY2023, following a cut in earnings per share (EPS) estimates from FY2022 to FY2024 by 1.1 percent to 52.6 percent to account for lower revenue and margin assumptions.</p><p>While CGS-CIMB analysts Ong Khang Chuen and Kenneth Tan are of the view that “the worst is likely over” for Hong Kong retail sales with the easing of pandemic restrictions and the rolling out of the Hong Kong’s Consumption Voucher Scheme, they believe a “bumpy path to recovery” still lies ahead for DFI.</p><p>The analysts foresee “significant” challenges to near-term border reopening.</p><p>“We further delay our recovery expectations for DFI’s Health and Beauty segment (which were) the biggest earnings contributor for DFI pre-Covid, as we think it is unlikely to see a meaningful return of Chinese tourists in FY2022,” they add.</p><p>Additionally, the research team predicts weaker margins for DFI in FY2022 due to various macro challenges including higher pandemic-related costs, supply chain constraints and higher utility expenses.</p><p>Also noting DFI’s intent to further invest in e-commerce, the analysts expect “elevated” expenses in the medium term and forecast DFI’s operating margin to see further compression of 1.1 percentage points year on year in FY2022 and operating profit to reduce by 32 percent year on year.</p><p>While the research team sees upside in the potential turnaround in DFI’s associate Yonghui with a forecasted return to profitability in FY2022, they believe it is “not enough to turn the tide”, and expect DFI’s net profit to fall 17 percent year-on-year in FY2022.</p><p>Shares of DFI were trading at US$2.92, down US$0.05 or 1.7 percent, as at 10.40 am on Monday.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Brokers’ Take: CGS-CIMB Lowers Target Price of DFI Retail Group With Bumpy Recovery Ahead</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBrokers’ Take: CGS-CIMB Lowers Target Price of DFI Retail Group With Bumpy Recovery Ahead\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-06-27 11:22 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.businesstimes.com.sg/companies-markets/brokers-take-cgs-cimb-lowers-target-price-of-dfi-retail-group-with-bumpy-recovery><strong>The Business Times</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>CGS-CIMB on Monday (Jun 27) lowered its target price for DFI Retail Group to US$2.70 from US$2.93 amid a continued challenging operating environment, though it still maintains a “hold” position on the...</p>\n\n<a href=\"https://www.businesstimes.com.sg/companies-markets/brokers-take-cgs-cimb-lowers-target-price-of-dfi-retail-group-with-bumpy-recovery\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"D01.SI":"牛奶国际控股有限公司"},"source_url":"https://www.businesstimes.com.sg/companies-markets/brokers-take-cgs-cimb-lowers-target-price-of-dfi-retail-group-with-bumpy-recovery","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1187230025","content_text":"CGS-CIMB on Monday (Jun 27) lowered its target price for DFI Retail Group to US$2.70 from US$2.93 amid a continued challenging operating environment, though it still maintains a “hold” position on the counter.The new target price implies a price-to-earnings ratio (P/E) of 16 times for FY2023, following a cut in earnings per share (EPS) estimates from FY2022 to FY2024 by 1.1 percent to 52.6 percent to account for lower revenue and margin assumptions.While CGS-CIMB analysts Ong Khang Chuen and Kenneth Tan are of the view that “the worst is likely over” for Hong Kong retail sales with the easing of pandemic restrictions and the rolling out of the Hong Kong’s Consumption Voucher Scheme, they believe a “bumpy path to recovery” still lies ahead for DFI.The analysts foresee “significant” challenges to near-term border reopening.“We further delay our recovery expectations for DFI’s Health and Beauty segment (which were) the biggest earnings contributor for DFI pre-Covid, as we think it is unlikely to see a meaningful return of Chinese tourists in FY2022,” they add.Additionally, the research team predicts weaker margins for DFI in FY2022 due to various macro challenges including higher pandemic-related costs, supply chain constraints and higher utility expenses.Also noting DFI’s intent to further invest in e-commerce, the analysts expect “elevated” expenses in the medium term and forecast DFI’s operating margin to see further compression of 1.1 percentage points year on year in FY2022 and operating profit to reduce by 32 percent year on year.While the research team sees upside in the potential turnaround in DFI’s associate Yonghui with a forecasted return to profitability in FY2022, they believe it is “not enough to turn the tide”, and expect DFI’s net profit to fall 17 percent year-on-year in FY2022.Shares of DFI were trading at US$2.92, down US$0.05 or 1.7 percent, as at 10.40 am on Monday.","news_type":1,"symbols_score_info":{"D01.SI":0.9}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9046372610,"gmtCreate":1656303485630,"gmtModify":1676535802946,"author":{"id":"3583033297199166","authorId":"3583033297199166","name":"YueShan","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":11,"crmLevelSwitch":1,"idStr":"3583033297199166","authorIdStr":"3583033297199166"},"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9046372610","repostId":1187230025,"repostType":4,"repost":{"id":"1187230025","kind":"news","pubTimestamp":1656300145,"share":"https://ttm.financial/m/news/1187230025?lang=en_US&edition=fundamental","pubTime":"2022-06-27 11:22","market":"sg","language":"en","title":"Brokers’ Take: CGS-CIMB Lowers Target Price of DFI Retail Group With Bumpy Recovery Ahead","url":"https://stock-news.laohu8.com/highlight/detail?id=1187230025","media":"The Business Times","summary":"CGS-CIMB on Monday (Jun 27) lowered its target price for DFI Retail Group to US$2.70 from US$2.93 am","content":"<html><head></head><body><p>CGS-CIMB on Monday (Jun 27) lowered its target price for DFI Retail Group to US$2.70 from US$2.93 amid a continued challenging operating environment, though it still maintains a “hold” position on the counter.</p><p>The new target price implies a price-to-earnings ratio (P/E) of 16 times for FY2023, following a cut in earnings per share (EPS) estimates from FY2022 to FY2024 by 1.1 percent to 52.6 percent to account for lower revenue and margin assumptions.</p><p>While CGS-CIMB analysts Ong Khang Chuen and Kenneth Tan are of the view that “the worst is likely over” for Hong Kong retail sales with the easing of pandemic restrictions and the rolling out of the Hong Kong’s Consumption Voucher Scheme, they believe a “bumpy path to recovery” still lies ahead for DFI.</p><p>The analysts foresee “significant” challenges to near-term border reopening.</p><p>“We further delay our recovery expectations for DFI’s Health and Beauty segment (which were) the biggest earnings contributor for DFI pre-Covid, as we think it is unlikely to see a meaningful return of Chinese tourists in FY2022,” they add.</p><p>Additionally, the research team predicts weaker margins for DFI in FY2022 due to various macro challenges including higher pandemic-related costs, supply chain constraints and higher utility expenses.</p><p>Also noting DFI’s intent to further invest in e-commerce, the analysts expect “elevated” expenses in the medium term and forecast DFI’s operating margin to see further compression of 1.1 percentage points year on year in FY2022 and operating profit to reduce by 32 percent year on year.</p><p>While the research team sees upside in the potential turnaround in DFI’s associate Yonghui with a forecasted return to profitability in FY2022, they believe it is “not enough to turn the tide”, and expect DFI’s net profit to fall 17 percent year-on-year in FY2022.</p><p>Shares of DFI were trading at US$2.92, down US$0.05 or 1.7 percent, as at 10.40 am on Monday.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Brokers’ Take: CGS-CIMB Lowers Target Price of DFI Retail Group With Bumpy Recovery Ahead</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBrokers’ Take: CGS-CIMB Lowers Target Price of DFI Retail Group With Bumpy Recovery Ahead\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-06-27 11:22 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.businesstimes.com.sg/companies-markets/brokers-take-cgs-cimb-lowers-target-price-of-dfi-retail-group-with-bumpy-recovery><strong>The Business Times</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>CGS-CIMB on Monday (Jun 27) lowered its target price for DFI Retail Group to US$2.70 from US$2.93 amid a continued challenging operating environment, though it still maintains a “hold” position on the...</p>\n\n<a href=\"https://www.businesstimes.com.sg/companies-markets/brokers-take-cgs-cimb-lowers-target-price-of-dfi-retail-group-with-bumpy-recovery\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"D01.SI":"牛奶国际控股有限公司"},"source_url":"https://www.businesstimes.com.sg/companies-markets/brokers-take-cgs-cimb-lowers-target-price-of-dfi-retail-group-with-bumpy-recovery","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1187230025","content_text":"CGS-CIMB on Monday (Jun 27) lowered its target price for DFI Retail Group to US$2.70 from US$2.93 amid a continued challenging operating environment, though it still maintains a “hold” position on the counter.The new target price implies a price-to-earnings ratio (P/E) of 16 times for FY2023, following a cut in earnings per share (EPS) estimates from FY2022 to FY2024 by 1.1 percent to 52.6 percent to account for lower revenue and margin assumptions.While CGS-CIMB analysts Ong Khang Chuen and Kenneth Tan are of the view that “the worst is likely over” for Hong Kong retail sales with the easing of pandemic restrictions and the rolling out of the Hong Kong’s Consumption Voucher Scheme, they believe a “bumpy path to recovery” still lies ahead for DFI.The analysts foresee “significant” challenges to near-term border reopening.“We further delay our recovery expectations for DFI’s Health and Beauty segment (which were) the biggest earnings contributor for DFI pre-Covid, as we think it is unlikely to see a meaningful return of Chinese tourists in FY2022,” they add.Additionally, the research team predicts weaker margins for DFI in FY2022 due to various macro challenges including higher pandemic-related costs, supply chain constraints and higher utility expenses.Also noting DFI’s intent to further invest in e-commerce, the analysts expect “elevated” expenses in the medium term and forecast DFI’s operating margin to see further compression of 1.1 percentage points year on year in FY2022 and operating profit to reduce by 32 percent year on year.While the research team sees upside in the potential turnaround in DFI’s associate Yonghui with a forecasted return to profitability in FY2022, they believe it is “not enough to turn the tide”, and expect DFI’s net profit to fall 17 percent year-on-year in FY2022.Shares of DFI were trading at US$2.92, down US$0.05 or 1.7 percent, as at 10.40 am on Monday.","news_type":1,"symbols_score_info":{"D01.SI":0.9}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9046352938,"gmtCreate":1656300931924,"gmtModify":1676535802318,"author":{"id":"3582797497746550","authorId":"3582797497746550","name":"Berloh","avatar":"https://community-static.tradeup.com/news/fcb2b55f26d92e207abd85b0d818fb59","vip":1,"crmLevel":11,"crmLevelSwitch":0,"idStr":"3582797497746550","authorIdStr":"3582797497746550"},"htmlText":"The group has lost its directions out of the HK market. Will they relook at their value proposition in Singapore and Malaysia?","listText":"The group has lost its directions out of the HK market. Will they relook at their value proposition in Singapore and Malaysia?","text":"The group has lost its directions out of the HK market. Will they relook at their value proposition in Singapore and Malaysia?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9046352938","repostId":1187230025,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":25,"commentSize":3,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.35.11","shortVersion":"4.35.11","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1187230025","isCrawlerRequest":true}