share_log

High Palm Oil Costs May Pressure Nissin Foods -- Market Talk

Dow Jones Newswires ·  Nov 7, 2021 22:32

0325 GMT - Nissin Foods may be pressured by high palm oil costs in 4Q, Daiwa Capital says, maintaining a hold rating on the stock. The investment bank lowers its forecasts for Nissin's 2021-2023 net profit by 5%-8%. However, Daiwa expects the food company's 4Q revenue to pick up slightly in the Hong Kong market, as controlled selling expenses could help offset some gross margin pressure. Daiwa raises its target price to HK$6.00 from HK$5.80 after adjusting its price-to-earnings ratio valuation. Shares are 4.0% lower at HK$5.50. (justina.lee@wsj.com)

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
    Write a comment