Singapore Stock Market News

Parkson Retail Asia - Tough Times

StockFanatic
Publish date: Fri, 21 Aug 2015, 03:19 PM
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Parkson Retail Asia (PRA) 4QFY15 (Jun) results were below expectations, even excluding one-off non-cash expenses. We expect the next twelve months to remain challenging in light of the poor consumption environment in key markets. However, the stock may have oversold for now and we upgrade to NEUTRAL, with a TP of SGD0.38 (previously SGD0.63, 6% upside), with a dividend yield of almost 10% looking good value.
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