0556 GMT - Delfi's earnings outlook appears challenging amid continued margin pressures, UOB Kay Hian analysts say in a research report. Given impact from high cocoa prices, the chocolate confectionary product maker's gross and Ebitda margins fell on-quarter and on-year in 3Q, the analysts note. Also, Indonesia's middle-class population is shrinking, suggesting falling wealth, and will probably have adverse effects on consumer demand for premium products such as those made by Delfi. The brokerage maintains the stock's hold rating, but raises its target price to S$0.86 from S$0.83 to reflect its rollover of the valuation base year. Shares are 0.6% lower at S$0.81. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
November 27, 2024 00:56 ET (05:56 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.