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DBS maintains Jumbo Group at 'fully valued' on declining restaurant sales and lack of tourists

Vivian Yee
Vivian Yee5/20/2021 02:54 PM GMT+08  • 3 min read
DBS maintains Jumbo Group at 'fully valued' on declining restaurant sales and lack of tourists
DBS Group Research analyst Alfie Yeo has maintained “fully valued” on Jumbo Group with a target price of 21 cents.
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DBS Group Research analyst Alfie Yeo has maintained “fully valued” on Jumbo Group with a target price of 21 cents, which represents a 36% downside on the stock as at his report dated May 19.

“Our target price of 21 cents is pegged to -1.5 standard deviation (s.d.) of its historical average forward price-to-earnings (P/E)”, says Yeo.

To Yeo, the valuation for Jumbo is “mispriced” and that the market has overvalued the stock.

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