Bualuang Securities has reaffirmed its "buy" rating on Charoen Pokphand Foods Plc (CPF) in anticipation of an earnings recovery in 2014.
Analysts at the bank believe the recovery in CPF will be primarily led by a turnaround in the company’s shrimp operations in the second half of the year, along with sustained domestic livestock margins and improved overseas livestock prices.
Core turnaround expected in the first quarter
Bualuang Securities is estimating CPF will post a THB 1.94 billion (€43.4 million/$59.9 million) net profit for the first quarter of 2014, up by 89 percent year-on-year and 11 percent quarter-on-quarter.
Analysts
