KUALA LUMPUR (Feb 7): Maybank IB Research has maintained its ‘buy’ call on Berjaya Food Bhd (BJFood) with a higher target price (TP) of RM1.85 from RM1.80 previously, on the expectation of sequential earnings improvement in the third quarter (3Q) financial year (FY) ended June 30, 2020.

This will be backed by new product launches and better festive sales during the Chinese New Year.

Nevertheless, it expects normalisation in sales in 4Q as the Ramadhan period begins.