Super Group upgraded to "hold" by Maybank Kim Eng; target at $1.02

Stock Name: Super Group
Company Name: SUPER GROUP LTD.

Research House: Maybank Kim Eng

Price Call: HOLD

Target Price: 1.02

SINGAPORE (Nov 11): Maybank Kim Eng has upgraded Super Group to "hold" from "sell", saying the stock has reverted to its five-year mean of 15 times P/E following its decline over the past few months.

While the instant beverage maker's 3Q2014 earnings came in below expectations, the September quarter is "likely the trough", according to Maybank Kim Eng analyst Gregory Yap, who has a price target of $1.02, pegged at 15 times projected 2015 earnings.