0602 GMT - Food Empire Holdings' earnings outlook seems to be better, Maybank Research's Jarick Seet says in a research report. The situation with its Russian distributor has been resolved, with margins there likely to improve gradually this year, while growth in Vietnam is expected to persist, the analyst says. Management foresees stronger growth from Asia and has put in place commercial and strategic initiatives to tap opportunities around the region, the analyst notes. Maybank raises its 2025 and 2026 profit-after-tax-and-minority-interests estimates for the food and beverage manufacturer by 11%. It upgrades the stock to buy from hold and raises its target price to S$1.19 from S$1.02. Shares are 2.7% higher at S$1.14. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
February 28, 2025 01:02 ET (06:02 GMT)
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