Taiga

BreadTalk seen less appetising after a weak 3Q; RHB slashes earnings estimates
SINGAPORE (Nov 7): RHB Research is maintaining its “sell” call on BreadTalk Group with a lower target price of 75 cents from $1 previously, after cutting FY18-20 forward earnings estimates by about 30% per annum to factor in the gestation of new businesses as well as higher interest costs. The research house has also lowered its target EV/EBITDA for BreadTalk’s core business to 5.5 times ...