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KGI expects UnUsUaL to return to profitability in FY2023; initiates 'outperform'

Felicia Tan
Felicia Tan6/21/2022 12:29 PM GMT+08  • 3 min read
KGI expects UnUsUaL to return to profitability in FY2023; initiates 'outperform'
UnUsUaL's founder Leslie Ong. Photo: Samuel Isaac Chua/The Edge Singapore
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KGI Research analyst Simeon Ang is starting UnUsUaL Limited at “outperform” with a target price of 19.2 cents.

“Our range is derived from FY+1/+2 peer P/E valuations as well as base/bear discounted cashflows. Our discounted cash flows (DCFs) considered [a] weighted average cost of capital (WACC) of 8.3%-8.7% and terminal growth rate of 1.8%-2.2%,” the analyst writes.

In his report dated June 20, Ang expects the live entertainment producer and promoter to return to the black in the FY2023 with projected revenue of $45.6 million and PATMI of $5.2 million.

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