Brokers' take

Japan Foods Holding | BUY Target price: S$0.54 May 29 close: S$0.47 KGI Research, May 29

With same-store sales stabilising for the year, store closures is expected to stabilise likewise going forward. Number of local outlets has grown in the 4.0 per cent to 4.5 per cent annual range - a net increase of two stores a year - over the last three years and management sounded an upbeat tone on accelerating the pace of new store openings from here on. We continue to hold our forecast of a conservative net increase of three new stores a year in our base case assumptions for now. . . Japan Foods remains relatively undervalued below its peers and continues to offer an appealing dividend yield of 4.6 per cent.

Singapore property sector | POSITIVE Maybank Kim Eng Research, May 29