RHB expects stronger 2H for MindChamps Preschool on newly-acquired preschools

SINGAPORE (Aug 21): RHB is maintaining its “buy” call on MindChamps Preschool with a lowered target price of 94 cents, mainly due to a lower sector valuation.

In a Tuesday report, analyst Juliana Cai says, “We believe MindChamps Preschool’s soft 1H18 results were largely due to seasonal factors, as student enrolment numbers were lowest in 1Q18 after the previous year’s graduation.”