$Jardine C&C (C07.SG)$ The research house’s price target of ...
$Jardine C&C(C07.SG$ The research house’s price target of S$29 represents a 25 per cent discount to an estimated FY2024 net asset value (NAV) of S$38.24 per share, which was derived from a sum-of-the-parts methodology and based on the stock’s historical average.
In a report on Sunday (Apr 7), Citi’s research team highlighted Jardine C&C’s share price decline of about 30 per cent since May 2023, along with a widening of its discount to NAV to 36 per cent from 4 per cent.
It therefore recommends that investors accumulate the stock at current levels, in view of the research house’s projections for the group’s net profit for FY2024 to FY2026 to increase by a compound annual growth rate of 7 per cent.
In a report on Sunday (Apr 7), Citi’s research team highlighted Jardine C&C’s share price decline of about 30 per cent since May 2023, along with a widening of its discount to NAV to 36 per cent from 4 per cent.
It therefore recommends that investors accumulate the stock at current levels, in view of the research house’s projections for the group’s net profit for FY2024 to FY2026 to increase by a compound annual growth rate of 7 per cent.
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