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Concerts, like recovery, 'still some time' away for UnUsUaL: RHB

Jovi Ho
Jovi Ho9/23/2021 02:46 PM GMT+08  • 2 min read
Concerts, like recovery, 'still some time' away for UnUsUaL: RHB
"We only expect events to resume from 1Q2022 onwards."
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Concert promoter and event producer Unusual will have to wait for its recovery, as there is “still some time” before concerts will stage a return, says RHB Group Research analyst Jarick Seet.

In a Sept 22 note, Seet downgrades Unusual to “hold” from “buy” with a lowered target price of 14 cents from 16 cents previously.

“We previously expected concerts and mass events to resume by 1H2021, but the resurgence of a new Covid-19 variant has dampened that anticipation. Consequently, despite the majority of Singaporeans having already been vaccinated, we expect mass events to only resume in end-4Q2021, or in 1Q2022. As a result, we downgrade our call on Unusual, as the recovery is not yet imminent,” writes Seet.

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