Emperador's Share Price Likely Face More Downside Risks -- Market Talk

Dow Jones10-01

0345 GMT - Emperador's share price likely faces more downside risks, UOB Kay Hian analyst Llelleythan Tan says in a research report as the brokerage downgrades the stock's rating to sell from hold and cuts the target price to S$0.300 from S$0.480. The Singapore-listed beverage company's 1H results were weak, dragged by its brandy and Scotch whisky segments as demand remains weak, the analyst says. Also, increased promotional activities and higher interest costs continue to pressure Emperador's overall margins, the analyst says. Given no near-term catalysts and continued headwinds, the stock looks overvalued at current levels, the analyst adds. Shares are unchanged at S$0.435. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

September 30, 2024 23:46 ET (03:46 GMT)

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Also, increased promotional activities and higher interest costs continue to pressure Emperador's overall margins, the analyst says. Given no near-term catalysts and continued headwinds, the stock looks overvalued at current levels, the analyst adds. Shares are unchanged at S$0.435. 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