Stock Name: Parkson
Company Name: PARKSON RETAIL ASIA LIMITED
The brokerage said it expects Parkson Retail to deliver around 20% annual earnings growth over the next several years as it steps up store openings to about 7-8 a year and sees steady same-store sales growth.
Company Name: PARKSON RETAIL ASIA LIMITED
| Research House: CIMB | Price Call: BUY | Target Price: 1.50 |
CIMB Research has initiated coverage of Singapore-listed department store operator Parkson Retail Asia (PRAL.SI) with an outperform rating and a target price of $1.50.
Parkson Retail’s valuations are low given it is a well-known retailer, has exposure to different countries and has a proven track record, CIMB said.
Parkson Retail’s valuations are low given it is a well-known retailer, has exposure to different countries and has a proven track record, CIMB said.
The brokerage said it expects Parkson Retail to deliver around 20% annual earnings growth over the next several years as it steps up store openings to about 7-8 a year and sees steady same-store sales growth.
The Vietnam and Indonesia markets will also provide the firm with higher growth opportunities from rising income and domestic consumption.
At 9:34 a.m., shares of Parkson Retail were untraded. It last closed at $1.19 on Tuesday, and have gained about 5.3% since it listed on Nov 3.
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