Food Empire Could Gain From Foreign-Exchange Tailwinds -- Market Talk

Dow Jones05-14 11:50

0350 GMT - Food Empire is likely to gain from foreign-exchange tailwinds, given it derives a large part of its earnings from oil-linked economies such as Russia and Kazakhstan, say DBS Group Research analysts in a note. Elevated oil prices due to the Middle East conflict are likely to strengthen currencies of such economies against the U.S. dollar, the analysts say. This should underpin strong double-digit growth for the Singapore-listed instant coffee maker in these markets, they add. The company's one-for-five bonus share issue to enhance its liquidity could also help investor interest and a valuation re-rating, DBS adds. The bank maintains a buy rating and S$3.65 target price. Shares rise 5.2% to S$3.24. (megan.cheah@wsj.com)

(END) Dow Jones Newswires

May 13, 2026 23:50 ET (03:50 GMT)

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