Singapore Stock Market News
Innovalues - VW Opens Up Value Window
StockFanatic
Publish date: Tue, 06 Oct 2015, 01:26 PM
StockFanatic
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■ VW's emission scandal has affected global auto valuations, adding on to China-slowdown woes.
■ Innovalues not spared but this opens up buying window. 3Q15 likely in line, with high confidence of a 4Q rebound. No change to EPS.
■ Maintain BUY. TP reduced to SGD1.02 from SGD1.18 on lower peer average valuation of 12x (from 14x).
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