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Revisions

Super kept at ‘reduce’ by CIMB with 89 cents target on poor 1Q

Broker's Calls

Super kept at ‘reduce’ by CIMB with 89 cents target on poor 1Q

PC Lee Published on Thu, May 12, 2016 / 4:07 PM GMT+8

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SINGAPORE (May 12): CIMB is keeping its “reduce” recommendation for Super Group but cutting its target price by 7.3% to 89 cents, citing a "poor start" to the year.

The food and beverage company last night reported first quarter earnings fell 15% on year.

CIMB says that a good fourth quarter had powered the run in the stock in the previous three months but an "unimpressive" first quarter earnings will now weigh on the stock performance, it adds.