Stock Name: Parkson
Company Name: PARKSON RETAIL ASIA LIMITED
CIMB in a Dec 7 research report says: "Parkson has been in the department-store business since 1987, and has established a unique footprint with its home base in Malaysia, market leadership in Vietnam, and recent entry into Indonesia via an acquisition.
"Parkson Retail Asia (PRA) also plans to open its first store in Cambodia in 2013, and seeks similar opportunities in Indochina (e.g., Myanmar) longer term. Despite its 27% run since IPO, we think the stock is still inexpensive at 15x CY12 EPS, vs. the high teens or more for other Southeast Asian retailers and the 16x for sister company in Hong Kong (3368.HK).
"Our target price of $1.50 is based on 16x CY13 EPS, in line with its peers. OUTPERFORM (initiating coverage)."
Company Name: PARKSON RETAIL ASIA LIMITED
| Research House: CIMB | Price Call: BUY | Target Price: 1.50 |
CIMB in a Dec 7 research report says: "Parkson has been in the department-store business since 1987, and has established a unique footprint with its home base in Malaysia, market leadership in Vietnam, and recent entry into Indonesia via an acquisition.
"Parkson Retail Asia (PRA) also plans to open its first store in Cambodia in 2013, and seeks similar opportunities in Indochina (e.g., Myanmar) longer term. Despite its 27% run since IPO, we think the stock is still inexpensive at 15x CY12 EPS, vs. the high teens or more for other Southeast Asian retailers and the 16x for sister company in Hong Kong (3368.HK).
"Our target price of $1.50 is based on 16x CY13 EPS, in line with its peers. OUTPERFORM (initiating coverage)."
No comments:
Post a Comment