Stock Name: KingsmenC
Company Name: KINGSMEN CREATIVES LTD
Company Name: KINGSMEN CREATIVES LTD
| Research House: DMG | Price Call: BUY | Target Price: 0.83 |
DMG & Partners raised its target price for Kingsmen Creatives to $0.83 from $0.76 and kept its 'buy' rating, citing a healthy pipeline of contracts and strong net cash position.
By 11:26 a.m., Kingsmen shares were up 1.4% at $0.73, and have gained 27% so far this year, compared to the FT ST Fledgling Index's 15.3% rise.
Kingsmen posted a 15% rise in its second quarter net profit to $5.2 million, due to an increase in theme park and MICE (meetings, incentives, conventions, exhibitions) contracts.
“We remain positive on Kingsmen, given its pipeline of contracts, supported by relatively strong consumerism in Asia, Singapore as one of the top MICE destinations in Asia and healthy growth of Asia’s amusement industry,” said DMG.
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