Singapore Stock Market News
Courts Asia - Cavalier no more
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Publish date: Thu, 11 Apr 2013, 04:06 PM
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Welcome to Stockfanatic Singapore stock market and regional market news. This is a platform to share Singapore stock market and regional news to investors / man in the street. Investors can also look forward to analyst reports and brokers recommendations. Stockfanatic's Singapore stock market and regional news blog, home of investors one stop news station.
Courts‟ bad debt problems are a thing of the past. It still makes money
from consumer financing, but it is more aware of the risks and has
taken steps to control it. Today, it is proxy to a spurt of completed
housing units in Singapore and store expansion across the region.
We think it is a reasonable consumer
play. We initiate coverage with an
Outperform. We value Courts using a
residual income model with 8% cost
of equity and 1% terminal growth.
Our target price implies 15x CY14
P/E, which is a 25%-discount to
regional peers. We see catalysts from
Singapore same-store-sales growth
(SSSG) and regional store expansion.
Read more » Related Stocks
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