Asia Plus Securities assessed CPF stock, maintaining a Buy recommendation with a 2027 fair value of 25.00 baht, citing its leadership in the integrated food and agriculture business. The research team noted that management remains cautious on the global meat industry, prioritizing efficiency gains, cost control, and risk management over accelerating production capacity expansion. Meanwhile, its growth strategy still emphasizes the Food business over Feed and Farm, through increasing the share of value-added food products, ready-to-eat foods, and ready meals. As for the Vietnam IPO plan, it continues to proceed as scheduled. On the earnings outlook, 2H69 is expected to be better than 1H69 and could recover further in 1H70 if the swine business in China begins returning to breakeven as expected. The stock also remains attractive, with an expected dividend yield above 4% per year.
Charoen Pokphand Foods Public Company LimitedAsia Plus maintains Buy on CPF with a 25 baht fair value, citing leadership and an expected dividend yield above 4%.
