Singapore Stock Market News

Japfa Ltd - Oversold

StockFanatic
Publish date: Thu, 30 Jul 2015, 01:07 PM
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â–  Ex fair value changes in bio assets, Japfa Limited (Japfa) delivered 2Q15 core earnings of US$14.3m (-36% y-o-y)

â–  The drop y-o-y was driven by losses in its Indonesia DOC breeding segment, FX losses and absence of a oneoff gain booked in 2Q14

â–  Forecasts unchanged; as we believe Japfa should still meet our FY earnings estimates

â–  Rating upgraded to BUY; we believe recent sell-off was unjustified
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