Dairy Farm - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/08/21	CIMB	Dairy Farm	4.27	5.5	Add	PER22x FY21
02/17/21	DBS Vickers	Dairy Farm	4.4	4.44	Buy
03/15/21	CIMB	Dairy Farm	4.51	5.4	Add	PER22x FY22
03/15/21	DBS Vickers	Dairy Farm	4.51	5.02	Buy	Sum of parts
03/15/21	DMG & Partners	Dairy Farm	4.51	4.78	Neutral	PER21x FY21
04/05/21	DBS Vickers	Dairy Farm	4.33	5.02	Buy
04/19/21	UOB Kay Hian	Dairy Farm	4.22	5.19	Buy	PER22x FY22
05/18/21	DBS Vickers	Dairy Farm	4.32	5.02	Buy
05/27/21	DBS Vickers	Dairy Farm	4.45	4.78	Buy	Sum of parts
07/19/21	DMG & Partners	Dairy Farm	4.09	4.78	Buy
07/30/21	DMG & Partners	Dairy Farm	3.98	4.42	Buy
08/02/21	DBS Vickers	Dairy Farm	3.76	3.96	Hold	Sum of parts
08/02/21	UOB Kay Hian	Dairy Farm	3.76	4.53	Buy
08/02/21	CIMB	Dairy Farm	3.76	4	Hold
09/10/21	UOB Kay Hian	Dairy Farm	3.6	4.53	Buy	PER24.7x
09/10/21	CIMB	Dairy Farm	3.6	3.8	Hold
11/18/21	CIMB	Dairy Farm	3.32	3.5	Hold	PER18.5x FY22
12/08/21	UOB Kay Hian	Dairy Farm	3.04	3.6	Buy	PER22.2x