Jumbo kept at 'add' by CGS-CIMB on new ION outlet

SINGAPORE (Dec 14): CGS-CIMB is maintaining its “add” call on Jumbo Group with a target price of 54 cents, in view of robust earnings growth in FY19 and possible margin uplift on tighter cost control.

The group announced on Tuesday that it has opened a new Jumbo Seafood outlet at ION Orchard. This will be the group’s first outlet opening in Singapore in 10 years.