Home Capital Broker's Calls

Koufu brings in the dough with attractive acquisition: CGS-CIMB

Jovi Ho
Jovi Ho7/2/2020 03:47 PM GMT+08  • 3 min read
Koufu brings in the dough with attractive acquisition: CGS-CIMB
CGS-CIMB analysts are maintaining an “add” call on food court operator Koufu Group Ltd with an unchanged target price of $0.86, buoyed by news its “attractive acquisition” of four F&B companies for $22.04 million on Wednesday.
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

SINGAPORE (Jul 2): CGS-CIMB analysts are maintaining an “add” call on food court operator Koufu Group Ltd with an unchanged target price of $0.86, buoyed by news of its “attractive acquisition” of four F&B companies for $22.04 million on Wednesday.

“We think this is an attractive acquisition as it complements Koufu’s product offering and strengthens its supply chain,” noted analysts Ngoh Yi Sin and Caleb Pang in a Wednesday report.

Trading at an implied 9.2 times price-to-earnings (P/E) ratio, the report comes on the back of subsidiary Koufu Pte Ltd’s acquisition of Deli Asia, Delisnacks, Dough Culture and Dough Heritage from individuals Alex Ong, Irene Lee and Doreen Ong.

×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.