Brokers' take

Jumbo Group Limited | Add Target price: S$0.62 June 25 close: S$0.505 CGS-CIMB, June 22

Known for its 'Singapore Chilli Crab' and 'Black Pepper Crab' dishes, Jumbo is targeting to open its sixth Singapore Jumbo Seafood outlet in the near term. We think the outlet may be located in Jewel Changi Airport that is due to open in 2019 forecast.

We believe that the new Jumbo Seafood outlet in Jewel Changi could easily achieve S$12 million annual sales by FY20 forecast, driven by a high tourist traffic flow and "novelty effect" that will attract throngs of shoppers and diners to the new mall in Changi Airport.