Price hikes bearing fruit
- 2Q22 earnings decline narrowed to 4% y-o-y, broadly in-line with expectations
- Price hike to continue in HK as Nissin Foods engages a premium food strategy
- Trimmed FY22/23F earnings by 2.7%/1%; Reiterate BUY, TP at HK$8.7
DBS: Nissin Foods Co Ltd – Buy Target Price HK$8.70
