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CGS-CIMB lowers TP on Credit Bureau Asia to $1.43 on lower growth assumptions post-1H21 results

Jovi Ho
Jovi Ho8/10/2021 04:17 PM GMT+08  • 3 min read
CGS-CIMB lowers TP on Credit Bureau Asia to $1.43 on lower growth assumptions post-1H21 results
"We cut our DPS estimates to 3.7 cents in FY2021F, in line with our lower earnings estimates."
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Despite missing revenue expectations in 1HFY2021, Credit Bureau Asia (CBA) has initiatives in the pipeline that will drive a stronger latter half of the year, say CGS-CIMB Research analysts Andrea Choong and Darren Ong.

In an Aug 6 note, Choong and Ong are maintaining “add” on the company with a lowered target price of $1.43 from $1.53 on Aug 2. The new target price represents an upside of 10.9%.

Listed on the Singapore Exchange (SGX) since Dec 3, 2020, CBA operates as a credit and risk information solutions (CRIS) provider. It aggregates and repackages credit information into useable reports and data packets for sale to its customers, which span both financial institutions (FI) and non-FI clientele. Their products include one-off reports for loan applications, pre-employment checks and pre-screening of business partners, as well as customised monitoring services for higher-risk exposures.

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