Brokers' take

Jumbo Group | Hold (maintained) May 29 close: S$0.365 Target price: S$0.41 UOB Kay Hian, May 29

After 10 years, Jumbo Group has two new Jumbo Seafood outlets in Singapore, one ION Orchard (December 2018) and another at Jewel Changi Airport (April 2019).

While they are smaller outlets, they are located in areas with higher foot traffic and should more than offset the closure of the National Service Resort & Country Club Seafood outlet in 2018.

With Jumbo's strong brand equity and the tourist traffic flow, we believe the out…