DFI Retail's Earnings Recovery Likely to Continue -- Market Talk

Dow Jones03-13

0750 GMT - DFI Retail Group's earnings recovery is likely to continue this year, RHB Research analyst Alfie Yeo says in a research report. The company's new CEO is expected to implement new growth strategies on the back of improving consumer demand, Yeo says. These strategies include improving its product assortment, optimizing its own brands across formats and expanding its primary healthcare service, Yeo says. However, RHB lowers its 2024-2025 earnings forecasts for DFI Retail by 9% following lower-than-expected 2023 core earnings, dragged by associates and a joint venture. It also trims the target price to $2.80 from $2.92 with an unchanged buy rating. Shares are 0.5% higher at $2.18. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

March 13, 2024 03:50 ET (07:50 GMT)

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