Stock Name: FJBen
Company Name: F J BENJAMIN HOLDINGS LTD
Company Name: F J BENJAMIN HOLDINGS LTD
| Research House: DBS Vickers | Price Call: HOLD | Target Price: 0.33 |
DBS Vickers has downgraded Singapore’s fashion retailer F J Benjamin Holdings (FJBN.SI) to hold from buy and cut its target price to $0.33 from $0.48.
As a mid- to high-end fashion and apparel distributor and retailer, DBS Vickers said it expects F J Benjamin’s earnings to be sensitive to changes in consumer demand, which may be affected by the worsening economic outlook.
As a mid- to high-end fashion and apparel distributor and retailer, DBS Vickers said it expects F J Benjamin’s earnings to be sensitive to changes in consumer demand, which may be affected by the worsening economic outlook.
“Consumer sentiment is expected to weaken, hence we are turning cautious on F J Benjamin’s mid-term outlook,” said DBS in a report.
The brokerage also reduced its earnings estimates for the firm in fiscal 2012 by 11% and by 12% in 2013, it said.
At 11:12 a.m., shares of F J Benjamin were 1.8% higher at $0.285, and have fallen about 33% since the start of the year.
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