KUALA LUMPUR: MIDF Research is revising higher its earnings estimates for Daibochi Bhd
as it takes into account the resilient demand for flexible plastic packaging from the group’s customers coupled with the expected increase in production capacity.
On the back of the group’s release of its financial year 2020 (FY20) performance, the research house adjusted its earnings estimates upwards for FY21 and FY22 to RM50.3mil and RM50.8mil respectively.
In tandem, its target price on the stock was raised to RM2.92 from RM2.66 previously.
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