DBS initiates coverage on Jumbo at 'buy' rating with 68 cents price target

reference text from DBS

http://smr.theedgemarkets.com/article/dbs-initiates-coverage-jumbo-buy-rating-68-cents-price-target

Jumbo Group (Buy, target price at 68 cents)

Following the group’s 1H16 performance that saw a 14% y-o-y revenue increase and 42% earnings growth, he says Jumbo is on track to record even higher core earnings growth for FY16F. “Jumbo’s business fundamental is strong and cash generative. Its margin has been higher than its regional peers, with strong net cash balance and close to 30% ROE,” reflects Yong. DBS projects an earnings growth of 27% for FY15-18F through the seafood restaurant chain’s rapid outlet growth and better profitability.