In a May 17 report, analyst Juliana Cai says she nonetheless remains positive on MindChamps as she expects the group to start reaping returns from its investments as its operating leverage improves going forward.
SINGAPORE (May 27): RHB Research continues to keep MindChamps Preschool at “buy” at a lower target price of 83 cents compared to 87 cents previously, indicating a 26% upside plus 2.2% yield.
The reduced target price comes after cutting FY19-20F earnings by 7% and 11%, respectively, upon management indications that adopting SFRS 16 has negatively impacted the group’s 1Q19 pre-tax profit by about $90,000 or -15%.
