Brokers' take
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
BreadTalk Group > Buy June 9 close: S$1.66 Target price: S$1.92 DBS Group Research, June 9
WE reiterate "buy" on BreadTalk as we believe its earnings will continue to turn around and deliver growth. Q1 2017 earnings have validated that its food court business is on track for a turnaround.
Apart from earnings growth, we see potential catalysts from the possible sale of AXA Tower /CHIJMES and revaluation of Beijing Tongzhou Development. BreadTalk's valuation, based on its core business (ex-property investments), is compelling at 16.2 times 2017/18 forecast earnings. We believe consensus has yet to factor in BreadTalk's investment properties into its share price.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Ministry of Home Affairs Permanent Secretary Pang Kin Keong to retire
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
