Stock Name: F & N
Company Name: FRASER AND NEAVE, LIMITED
Company Name: FRASER AND NEAVE, LIMITED
| Research House: Deutsche Bank | Price Call: BUY | Target Price: 9.42 |
Corporate action around F&N is likely to slow near term as the APB divestment is now likely to proceed and with the takeover offer from ThaiBev and TCC Assets ongoing, Deutsche Bank says, expecting F&N’s
shares to be rangebound around the $8.88/share offer price.
It believes F&N’s 12-month valuations remain undemanding at a 14% discount to its current sum-of-the-parts estimate of $10.46.
“Synergies with TCC/ThaiBev’s consumer and property operations or value crystallization from F&N’s assets could narrow NAV discounts and/or unlock further value for shareholders in the longer term.”
It keeps a Buy call with $9.42 target. The stock is flat at $8.88.
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