Kimly Likely to Benefit From Network Expansion, Automated Machines
Dow Jones
Dec 12, 2024
Kimly may benefit from numerous initiatives, UOB Kay Hian analysts say in a research report as the brokerage maintains a hold rating on the stock. The operator of coffee shops and food courts continues to expand its Singapore market presence, such as opening a new food court in Lucky Plaza, the analysts note. In addition, Kimly integrated automated machines into its mixed vegetable rice central kitchens, boosting its supply of semi-processed products, which has enhanced operational efficiencies, the analysts add. However, the brokerage trims its forecasts for the company's FY 2025-2026 earnings by 2% each, reflecting higher labor costs. UOB Kay Hian lowers its target price to S$0.34 from S$0.35. Shares are unchanged at S$0.325. (ronnie.harui@wsj.com)
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