0407 GMT - Delfi is projected to face challenges in 2025, says CGS International analyst Tay Wee Kuang in a note, as the brokerage lowers the stock's target price to S$0.88 from S$0.96, with an unchanged add rating. The chocolate confectionery maker's management said near-term margins could remain under pressure due to an ongoing shortage of cocoa, which continues to drive up prices, the analyst says. CGS International reduces its 2025 and 2026 earnings per share forecasts by 18.9% and 8.7%, respectively, anticipating that high raw material prices will weigh on Delfi's profitability. Shares are down 0.7% at S$0.73. (amanda.lee@wsj.com)
(END) Dow Jones Newswires
February 27, 2025 23:07 ET (04:07 GMT)
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