According to Maybank Investment Research, Berjaya's Starbucks products will continue to be available through these platforms, which should mitigate any significant downside to sales volume.
The research house said 55% of Berjaya's Starbucks and Kenny Rogers Roasters stores are within the Selangor and Kuala Lumpur areas that fall under the MCO.
"We leave our earnings estimates unchanged but lift FY21 DPS estimates to 3 sen (from 2 sen) given expectations for earnings growth momentum to continue amid the pandemic," it said.
Maybank IB maintained its "buy" call on the counter and increased its target price to RM2.40 to reflect its post-pandemic earnings growth trajectory.
In 3QFY21, Berjaya Food's core net profit of RM11mil brought 9M21 core net profit to RM38mil, which came to 78% and 100% of Maybank IB's and consensus full-year estimates.