John Cheong of UOB Kay Hian, citing positive outlook for Food Empire Holdings, is the latest analyst to raise his target price for the stock, which has already doubled year to date.

From a previous target price of $1.98, Cheong now figures Food Empire is worth $2.40.

William Tng of CGS International had on June 26 raised his target price to $2.28 from $1.95; Maybank Securities had earlier raised its target price to $2 from $1.19.