Kenanga Research has upgraded its rating on Dutch Lady Milk Industries Bhd to Outperform from Market Perform previously, with a higher target price of RM58.51, on better margins.
It said in a note on Wednesday that the company’s nine-month ended Sept 30, 2015 net profit of RM115.8mil is above its expectation and made up for 93.5% of its full-year forecast.
Year-on-year, nine-month revenue fell by 0.8% to RM730.8mil as Kenanga believes the volume decline arising from product relaunching has been buffered by the about 15% price increase in
end 2014.
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It said in a note on Wednesday that the company’s nine-month ended Sept 30, 2015 net profit of RM115.8mil is above its expectation and made up for 93.5% of its full-year forecast.
Year-on-year, nine-month revenue fell by 0.8% to RM730.8mil as Kenanga believes the volume decline arising from product relaunching has been buffered by the about 15% price increase in
end 2014.
For Free Signals and other KLSE online updates, click here OR Give A Missed Call : +60350219047 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my
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