SINGAPORE (Sept 1): DBS Group Research has initiated coverage for Katrina Group with a “buy” recommendation and a target price of 43 cents.
Katrina owns and operates F&B restaurants in Singapore and China. Its nine brands include Bali Thai, Streats, So Pho, Hutoang and Honguo, which serve Indonesian, Chinese, Mexican and Vietnamese cuisines.
DBS’s Alfie Yeo noted that Katrina had recently signed a deal with Foodpanda to place all the food offerings of its nine brands on the delivery service, which is expected to boost the group’s online presence.
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