Dairy Farm’s recovery may rely on China economic revival

The retail firm, however, will be hit by inflationary pressures.

RHB maintained its “neutral” rating on Dairy Farm, which posted a target price of US$3.09 and 4.7% downside.

Dairy Farm’s fiscal results were below expectations in 2022 due to weaker-than -expected margins.

To recover from this, its earnings could improve due to lifting of pandemic restrictions and China’s economy reopening.

Challenges such as inflationary pressure, rising interest rates, and potential global economic slowdown could pose earnings downside risks.

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