Delfi's Margin Recovery Likely Aided by Declining Cocoa Prices -- Market Talk

Dow Jones

03/02

0723 GMT - Delfi's margin recovery is likely aided by declining cocoa prices, UOB Kay Hian analysts say in a research report. Global cocoa prices have retreated from 2024-2025 peaks to their lowest since May 2023 amid improved supply conditions, rising inventories and expectations of a stronger mid-crop on the Ivory Coast, the analysts say. This supports margin recovery for the chocolate confectionery product manufacturer. Also, the company hedges cocoa costs over 6-24 months, so the brokerage expects falling input costs to gradually alleviate margin pressure from 26.5% in 2025. UOB Kay Hian upgrades the stock to buy from hold and raises the target price to S$1.12 from S$0.82. Shares are 4.7% lower at S$1.01. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

March 02, 2026 02:23 ET (07:23 GMT)

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Global cocoa prices have retreated from 2024-2025 peaks to their lowest since May 2023 amid improved supply conditions, rising inventories and expectations of a stronger mid-crop on the Ivory Coast, the analysts say. This supports margin recovery for the chocolate confectionery product manufacturer. Also, the company hedges cocoa costs over 6-24 months, so the brokerage expects falling input costs to gradually alleviate margin pressure from 26.5% in 2025. UOB Kay Hian upgrades the stock to buy from hold and raises the target price to S$1.12 from S$0.82. Shares are 4.7% lower at S$1.01. (ronnie.harui@wsj.com) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  March 02, 2026 02:23 ET (07:23 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0532188223.SGD","symbol_name":"JPMorgan Funds - ASEAN Equity A (acc) SGD","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2616855593","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2616855593","pubTimestamp":1772436180,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0723 GMT - Delfi's margin recovery is likely aided by declining cocoa prices, UOB Kay Hian analysts say in a research report. Global cocoa prices have retreated from 2024-2025 peaks to their lowest since May 2023 amid improved supply conditions, rising inventories and expectations of a stronger mid-crop on the Ivory Coast, the analysts say. This supports margin recovery for the chocolate confectionery product manufacturer. Also, the company hedges cocoa costs over 6-24 months, so the brokerage expects falling input costs to gradually alleviate margin pressure from 26.5% in 2025. UOB Kay Hian upgrades the stock to buy from hold and raises the target price to S$1.12 from S$0.82. Shares are 4.7% lower at S$1.01. 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Global cocoa prices have retreated from 2024-2025 peaks to their lowest since May 2023 amid improved supply conditions, rising inventories and expectations of a stronger mid-crop on the Ivory Coast, the analysts say. This supports margin recovery for the chocolate confectionery product manufacturer. Also, the company hedges cocoa costs over 6-24 months, so the brokerage expects falling input costs to gradually alleviate margin pressure from 26.5% in 2025. UOB Kay Hian upgrades the stock to buy from hold and raises the target price to S$1.12 from S$0.82. Shares are 4.7% lower at S$1.01. (ronnie.harui@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  March 02, 2026 02:23 ET (07:23 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":true,"editions":null,"column":"","sentiment":"1","news_tag":"dataReport","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":true,"need_login_tip":false,"code":"91000000","status":"200"}}}