Stock Upgraded: Singapore Food Industries Ltd upgraded to "buy" by OCBC Investment Research!

Singapore Food Industries Ltd may rise after OCBC Investment Research raised its rating to "buy" from "hold" on belief the recent selldown in the stock was overdone. "We feel this sharp correction is overdone and unwarranted," OCBC said in a note to clients. "We see emerging value in the stock as a good dividend yield play." The brokerage said the company's new investments in Europe will underpin future growth. Singapore Food closed up 0.015 sgd at 0.940 yesterday.