UnUsUal’s core business is finally operational after a long period of stasis due to Covid-19. This is thanks to the Singapore government easing Covid-19 measures and thereby approving the return of live performances, while further lifting capacity limitations as at end-April.
RHB Group Research analyst Jarick Seet has kept a “neutral” rating on UnUsUaL with an unchanged target price of 14 cents.
With the resumption of the group’s business following a long hiatus due to the pandemic, Seet believes that the worst is over for UnUsUal. He says: “We expect the group to return to profitability in FY2023 ending March and see stronger growth in the years ahead. However, as its valuation remains rich at this point, we maintain our call, for now.”
