CGS-CIMB issues 'add' call on Synagie

Singapore

BROKERAGE CGS-CIMB has initiated coverage on Synagie Corporation with an "add" call and a target price of S$0.34 on the basis that the company is set to ride the wave of e-commerce growth.

Synagie, which provides e-commerce services to more than 250 fast-moving consumer goods brands, listed on the Singapore Exchange's Catalist board on Aug 8. The startup's clients operate mostly in the body, beauty and baby (BBB) sector.