Why Duty Free International investors have reason to keep smiling

SINGAPORE (Jan 16): CIMB continues to rate Duty Free International (DFI), the duty free retailing group in Malaysia, at “add” with a lower target price of 55 cents from 61 cents previously.

In a Friday report, analysts Ngoh Yi Sin and William Tng say they continue to like the stock for its cash generative business and strong balance sheet.

However, given the tourism slowdown in Thailand due to the passing of King Bhumibol on Oct 2016 as well as the recent flooding in Southern Thailand, they also expect the border town situation to remain challenging.

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