DFI Retail Group's earnings should continue to recover into this year, says RHB Singapore analyst Alfie Yeo in a research report.
The Asian retailer's 2024 earnings were within the brokerage's expectations, with core earnings rise 30% on year.
The brokerage is encouraged by the company's margin expansion, from drivers like its Singapore food business' earnings recovery.
Growth is also expected to be driven by factors including more convenience store openings in China, Yeo says.
RHB raises its 2025 and 2026 earnings forecasts by 2% and 3% respectively, due to more positive gross and operating margins momentum.
It also raises the stock's target price to US$2.79 from US$2.70, while maintaining a buy rating. Shares last at US$2.25.
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