SINGAPORE (Nov 16): Noble Group is maintaining its “hold” call on Super Group and lowering its target price to 49 cents from 57 cents as it expects it will take time for investors to restore their confidence in its business model and the valuation of its associates and offtake agreements.

In a Friday report, analyst Mervin Song believes the following initiatives may help re-rate Noble.

These include a partial or full sale of its associates and/or Level 3 assets to demonstrate the value of these assets and the presence of a strategic investor in Noble itself or one of its divisions to provide reassurance over the its business model.

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)

Related Stories

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook