SGX-listed Food Empire Holdings Limited (SG:F03) stands out as one of the most attractive stocks in the Singapore market for its high returns. Analysts have rated the stock as Strong Buy and predict an upside of around 45% in the share price.
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In addition, the stock also ticks the box for income investors with a dividend yield of 3.89%, compared to the industry average of 2.125%. For FY22, the board approved a record dividend of S$.044 per share, which was paid on May 19, 2023. This marked an increase of 100% over the dividend (including special dividend) of S$0.022 paid in May 2022.
Food Empire is a leading manufacturer in the food and beverage industry, specializing in branded instant beverages, frozen convenience foods, snacks, etc.
Let’s take a look at the details.
Food Empire: The Bullish Case
Food Empire stock has earned a “Perfect 10” score on the TipRanks’ Smart Score tool, indicating its potential to surpass market returns. The Smart Score tool assigns a ranking from one to ten to stocks based on the analysis of eight different factors. The score provides insights into a stock’s potential to outperform overall market returns, helping users identify long-term opportunities.
Analysts have maintained their Buy ratings on the stock following the company’s third-quarter earnings for FY23, indicating their confidence in its growth trajectory. Moving forward, analysts remain bullish on the company’s prospects, considering its solid product demand and earnings growth potential.
Analyst Heidi Mo from UOB Kay Hian is optimistic about the company’s product demand in key markets and has increased her earnings estimates by 8%, 9%, and 6% for 2023, 2024, and 2025, respectively. Mo has a Buy rating on the stock and predicts an upside of 44% in the share price.
Food Empire Share Price Target
The Food Empire share price gained around 68% in trading in 2023. On TipRanks, F03 stock has been assigned a Strong Buy consensus rating based on three Buy recommendations. The Food Empire share price target is S$1.64, which suggests a growth of 45% from the current level.
