Yoma downgraded to 'reduce', target cut to 46 cents by CIMB

Stock Name: Yoma Strategic
Company Name: YOMA STRATEGIC HOLDINGS LTD

Research House: CIMB

Price Call: SELL

Target Price: 0.46

SINGAPORE (May 25): CIMB has downgraded Yoma Strategic Holdings to "reduce" from "hold" and cut its price target to 46 cents from 57 cents after lowering its core earnings per share estimates by 64.3% for FY2016 and 25.6% for FY2017.

"Yoma's real estate business is expected to face headwinds in the next 12 months due to the increasing competition and wait-and-see sentiment related to the uncertainty surrounding the Myanmar general election towards the end of 2015," CIMB analysts Roy Chen and William Tng wrote in a note.