KUALA LUMPUR: CIMB Equities Research has initiated coverage on Berjaya Food
(BFood) with an Add call and RM4.33 target price – based on 23.7 times CY16 price-to-earnings (P/E), a 30% premium over the peer average, in view of its superior earnings growth.
It said on Tuesday the key re-rating catalysts include strong earnings growth from Starbucks, the recovery of Kenny Rogers Roasters (KRR) Malaysian and Indonesian performance, and the injection of Starbucks FMCG and other franchise businesses into the group.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
