OCBC Investment Research initiated coverage of Petra FoodsLtd with a 'buy' rating and a target price of S$2.98,as the cocoa company has a dominant market share in Philippinesand Indonesia and is likely to benefit from rising consumerdemand in the region. Petra is one of the world's largest producers and suppliersof cocoa ingredients, and its extensive distribution network andstrong brand name give it a competitive advantage and highbarriers of entry, OCBC said. Petra's sales for its branded consumer division have grown20. ...
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