By tapping on its central kitchens, Kimly is able to offer competitive pricing relative to competitors.
Chee Zheng Feng of DBS Group Research has initiated coverage of coffeeshop operator Kimly with a "buy" call and 52 cents target price, which is valued at a "reasonable" 18x forward PE and 4% forward yield, "broadly in line with defensive SGX consumer names."
According to Chee in his May 7 note, Kimly is able to drive growth via a combination of securing new outlets, acquisitions and joint ventures.
