Brokers' take

UnUsUaL Ltd | Buy (initiate) Sept 17 close: S$0.28 Target price: S$0.42 RHB Research, Sept 17

INITIATE with a "buy" with S$0.42 target price, 50 per cent upside. UnUsUaL is an Asian concert promotion and event production leader. It has grown since listing into an entity with FY19 earnings of S$13.2 million. Given more entertainment opportunities ahead, this should help grow a conservative FY20F-22F net profit after tax compound annual growth rate of 20 per cent. Its share price has also corrected significantly to a reasonable valuation. Consequently, we initiate coverage on a rare local firm that can still deliver high growth over the next 2-3 years.

UnUsUaL has a scalable business model. It can leverage on strong relationships with various artistes, and is able to host concerts in various venues globally, especially China.