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.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook