This comes after the restaurant chain operator reported 15.7% higher 1Q19 earnings of $2.4 million, in line with the research house’s expectations at 18% of its FY19F estimates, considering how the 1Q is seasonally weak.
SINGAPORE (Feb 15): CGS-CIMB Research is maintaining its “add” call on Jumbo Group while lowering its target price to 52 cents from 54 cents previously to reflect 2-3% lower FY20-21F EPS on the account of weaker China operations.
The latest price target is pegged to 21 times FY20F P/E versus the regional peer average of 20 times.
