0229 GMT - Food Empire seems cautiously optimistic about sustaining strong revenue growth, UOB Kay Hian analysts say in a research report. The food and beverage company is confident that its strong brand equity will offer resilience against the direct impact of tariff wars, the analysts note. Food Empire's strategic focus on Asia allows it to capitalize on high-growth emerging markets that have shown increasing preference for good-quality instant beverages that provide convenience and cater to busy lifestyles, the analysts add. The company appears due for a rerating, partly thanks to its increasingly better track record in delivering strong results, says the brokerage which lifts the target price to S$1.98 from S$1.20, with an unchanged buy rating. Shares are unchanged at S$1.69. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
May 15, 2025 22:29 ET (02:29 GMT)
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