SINGAPORE (Nov 7): CIMB is reiterating its “add” call on Best World with a higher target price of $2.21 from $2.05 previously, after the direct-selling company posted 3Q earnings of $8.9 million, which was more than double from a year ago.
(See also: Best World’s 3Q earnings more than double to $8.9 mil)
In a Friday report, analyst Jonathan Seow notes the group’s “stellar” net profit is mainly due to the “star markets” of Taiwan and China. This has resulted in CIMB lifting its FY16 EPS forecast mostly on better-than-expected sales in China.
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