PhillipCapital analyst Terence Chua has downgraded Koufu to “neutral” from “accumulate” with a lower target price of 64 cents from 68 cents previously, following the group’s operational update on the impact of Singapore’s move to phase two (heightened alert) measures.  

The new target price is still based on 18.5 times FY2021, which is around the average of its peers, says Chua in a May 24 report.

To Chua, the downgrade comes as the group faces a “speed bump” on its road to recovery.


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