Posted by yangxi > Dec 4, 2019 4:39 PM | Report Abuse

aeon any time can rebound to RM1.60 first

Posted by HoldingKing > Dec 4, 2019 5:02 PM | Report Abuse

I think AEON bottom dy. Expecting good QR4

Posted by techlee229 > Dec 6, 2019 11:09 AM | Report Abuse

Forecast. We lower our FY19/20/21 earnings forecasts by 8.6%/8.1%/5.6% to account for higher effective tax rate and operating expenses going forward.

Maintain BUY. After our earnings adjustment, our TP falls from RM2.20 to RM2.00 based on an unchanged 23x earnings multiple of FY20 EPS of 8.8 sen. Despite the miss in earnings this time, we expect Aeon’s shopping mall refurbishments and pivot to ready-to-eat offerings (which commands higher margins) to revive their retailing division. Maintain BUY.