Singapore Stock Market News

BreadTalk Group - Bringing In The Dough

StockFanatic
Publish date: Thu, 11 Dec 2014, 11:25 AM
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We believe BreadTalk's diversified offerings and mass market prices will continue to thrive despite the weak spending environment. We trim our SGD1.90 TP (38.7% upside) but reiterate our BUY call as the stock remains undervalued, trading at just 6x FY15F EV/EBITDA. In our recent discussions with the company, we are happy with its more moderate store expansion strategy going forward, which we believe will boost bottomline margins.
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