0527 GMT - Food Empire Holdings' earnings may stay resilient given that its branded products are attractively priced consumer staples, CGS International's William Tng says in a research report. Management is cautiously optimistic of sustaining topline performance due to ongoing investments in brand building and market leadership position of its brands, the analyst notes. Management has also guided that it doesn't expect the Singapore-listed company to be significantly impacted by the U.S.' new tariffs, as the U.S. isn't a major market. The brokerage lifts the 2026 price-to-earnings multiple for Food Empire to 13.4X from 11.2X, and raises the stock's target price to S$1.95 from S$1.71 with an unchanged add rating. Shares are 9.15% higher at S$1.67. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
May 14, 2025 01:27 ET (05:27 GMT)
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