0236 GMT - DFI Retail Group's recent divestment of its Singapore food business is poised to reduce long-term earnings drag, RHB Research's Alfie Yeo says in a research report. The Asian retailer's move is positive, given that the business has been facing challenges including competition, rising food costs, and inflation, the analyst says. Management can now focus on driving growth from the company's more profitable 7-Eleven convenience stores and its Guardian brand. RHB remains positive on DFI Retail Group's earnings recovery expectations and attractive valuation. It raises the stock's target price to US$3.03 from US$2.79 to partly reflect longer-term growth assumptions, with an unchanged buy rating. Shares are 1.7% higher at US$2.37. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
April 01, 2025 22:36 ET (02:36 GMT)
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