Brokers' take

Jumbo Group > Buy > initiate RHB Research Institute, June 21 June 21 close: S$0.375 Target price: S$0.47

Jumbo Seafood Singapore is the group's single largest earnings driver, contributing around 60 per cent of revenue in FY2018. Jumbo Seafood's strong brand equity in Singapore enables it to consistently deliver positive same-store sales growth.

It has opened two new Jumbo Seafood restaurants at Ion Orchard and Changi Airport Jewel this year, which we expect to contribute positively to estimated FY2019-2020 earnings growth.