SINGAPORE (Nov 5): DBS Group Research is staying positive on Koufu Group, on the back of a flurry of new store openings which has driven earnings growth.

The brokerage is keeping its “buy” call on Koufu with a target price of 88 cents.

“We continue to like Koufu for its stable earnings, decent yield of 3.4%, decent cashflow generation, strong balance sheet, and steady store expansion plans,” says lead analyst Alfie Yeo in a Tuesday report.

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