“[The target price] remains pegged at 0.45 times P/BV, slightly above 2007 - 2010 average P/B during major conflicts, political upheavals and natural disasters," he says in a May 19 research note.
PhillipCapital analyst Tan Jie Hui has cut his earnings estimates for Yoma Strategic Holdings in anticipation of further fallout from Covid-19 as well as the ongoing political upheaval in Myanmar.
His FY2021 ending September and FY2022 earnings forecast has been cut by 3% and 25% respectively, underpinning a lower target price of 14.7 cents from 15.6 previously.
