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Delfi's Indonesia Sales Could Recover as Covid Cases Decline -- Market Talk

Dow Jones Newswires ·  Nov 18, 2021 15:50

0748 GMT - Delfi's Indonesia sales could grow as the country's Covid-19 cases decline and footfall in shops returns, CGS-CIMB says. Indonesia is the chocolate and candy seller's largest market, contributing 66% of total revenue, according to FactSet's estimates. Higher spending in the year-end holiday period should also boost sales, which should result in higher 4Q revenue. CGS-CIMB believes Delfi is on track to hit its FY revenue forecast of US$415.6 million. The brokerage keeps an add rating and S$1.02 target price on Delfi, which is 2.6% higher at S$0.78. (yongchang.chin@wsj.com)

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