Is there more upside for Koda?

SINGAPORE (July 17): Shares of furniture maker Koda rose to as high as $1.11 or as much as 23.3% in trading today, after the company announced a plan to increase open new furniture stores in China.

The stock has nearly doubled this year and is up 287% over the last 12 months, putting it among the best performing locally listed stocks this year. Is there room for it to appreciate further?

At 12.6 times earnings, shares of Koda aren’t pricey. Koda’s closest regional peer is Hong Kong-listed Man Wah Holdings, which trades at 14.7 times earnings.

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