0414 GMT - Century Pacific Food's business fundamentals look strong, Maybank Securities' Daphne Sze says in a research report. The branded food company's earnings growth trajectory seems stable, given its net income for the first nine months of 2024 was in line with consensus expectations. The Philippine-listed company has high returns on equity versus its peers and an improving revenue contribution from its emerging businesses, the analyst adds. The brokerage forecasts the company's 2024 and 2025 earnings growth at 21% and 15%, respectively. It raises the stock's target price to PHP47.00 from PHP40.00 to reflect assumptions for stable raw material prices, while maintaining a buy rating. Shares are 1.0% higher at PHP41.90. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
November 25, 2024 23:14 ET (04:14 GMT)
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