CGS-CIMB Research is keeping its “add” recommendation on Koufu with a higher target price of 94 cents, compared to 86 cents previously.

In a Dec 14 report, analyst Cezzane See says, “While we are positive on Koufu’s longer-term prospects, we think that we were previously too aggressive about FY2020 net margins and the pace of recovery in FY2021-2022. Hence we lower our PBT margins and cut our FY2020/2021/2022 forecasts by 32.1%/18.4%/4.1%.”

This report marks See taking over the coverage on this stock from analysts Ngoh Yi Sin and Caleb Pang previously.


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