Stock Name: FJBen
Company Name: F J BENJAMIN HOLDINGS LTD
Research House: Kim Eng
The brokerage said it expects revenue from Raoul to grow by an annual average of 27% from 2011-2020.
Company Name: F J BENJAMIN HOLDINGS LTD
Research House: Kim Eng
Kim Eng Securities has cut its target price for Singapore fashion retailer FJ Benjamin (FJBN.SI) to $0.43 from $0.62 and kept its buy rating.
Kim Eng has cut its target price for FJ Benjamin, as it expects earnings contributions from the firm's in-house clothing brand, Raoul, will take a longer time.
Kim Eng has cut its target price for FJ Benjamin, as it expects earnings contributions from the firm's in-house clothing brand, Raoul, will take a longer time.
The brokerage said it expects revenue from Raoul to grow by an annual average of 27% from 2011-2020.
“In our opinion, a take-off in Raoul sales could occur within the next 1-3 years if well executed. However, we observe that the market has been unwilling to accord much value for future growth in the fashion businesses,” said Kim Eng in a report.
Shares of FJ Benjamin were 1.3% higher at $0.38, but have fallen about 11% since the start of the year.
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