Stock Name: PARKSON
Company Name: PARKSON HOLDINGS BHD
Research House: HWANGDBS
Company Name: PARKSON HOLDINGS BHD
Research House: HWANGDBS
Research firms, HwangDBS Vickers Research and OSK Research, are maintaining their "buy" call on Parkson Holdings Bhd.
In a research note today, OSK said PT Tozy Bintang Sentosa Group (TBS), Parkson’s partner in its foray into Indonesia, has targeted the mid-end market segment where there is less competition.
TBS has vast experience in the Indonesian retail market and good connections with key industry players.
"Thus, in view of TBS’strong brand names,Parkson is confident of setting up between 20 to 25 outlets in the next three to four years," it said.
"Given that the details on the collaboration remain sketchy, we maintain our earnings forecast at between RM361.4 million and RM439.7 million and a target price of RM6.31," OSK said.
Meanwhile, HwangDBS Vickers Research said it believes, Parkson will hold a controlling stake and its local partner taking up the balance.
Long-term prospects remain favourable given Parkson's strategic presence in Malaysia, China, Vietnam and next year in Cambodia, with a strong domestic consumption growth story.
The company is maintaining a "buy" rating on Parkson and a revised net asset value (RNAV)-based target price of RM6.00. -- Bernama
In a research note today, OSK said PT Tozy Bintang Sentosa Group (TBS), Parkson’s partner in its foray into Indonesia, has targeted the mid-end market segment where there is less competition.
TBS has vast experience in the Indonesian retail market and good connections with key industry players.
"Thus, in view of TBS’strong brand names,Parkson is confident of setting up between 20 to 25 outlets in the next three to four years," it said.
"Given that the details on the collaboration remain sketchy, we maintain our earnings forecast at between RM361.4 million and RM439.7 million and a target price of RM6.31," OSK said.
Meanwhile, HwangDBS Vickers Research said it believes, Parkson will hold a controlling stake and its local partner taking up the balance.
Long-term prospects remain favourable given Parkson's strategic presence in Malaysia, China, Vietnam and next year in Cambodia, with a strong domestic consumption growth story.
The company is maintaining a "buy" rating on Parkson and a revised net asset value (RNAV)-based target price of RM6.00. -- Bernama
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