This is due to expectations of rising capex and start-up costs which could result in a near-term overhang, said analyst Juliana Cai in a Monday report, especially since the group has more joint ventures (JVs) in the pipeline for the year ahead.
SINGAPORE (Mar 19): RHB advises investors to sell BreadTalk and take profit given its current share price is approaching the target of $2.
The research house recommends buying back the stock when prices are closer to $1.70, which implies six times core EV/EBITDA plus investment properties’ net asset value (NAV).
