MAYBANK Investments Securities Group adjusted its target price (TP) for the Sy family-led SM Investments Corp. (SMIC) after adjusting SM Retail's same-store sales growth (SSSG) forecast.
"We slightly lower our TP for SM due to a lower DCF (discounted cash flow) valuation for SM Retail (-3.6 percent) while reflecting a rise in our TP for BDO (plus 3 percent) as well as continuing to apply a 10 percent discount to SM's valuation to derive our SOTP (sum-of-the-parts)-based TP," Maybank said in a report dated Sept. 2, 2024.
Already have an active account? Log in here.
Continue reading with one of these options:
Continue reading with one of these options:
Premium + Digital Edition
Ad-free access
P 80 per month
(billed annually at P 960)
- Unlimited ad-free access to website articles
- Limited offer: Subscribe today and get digital edition access for free (accessible with up to 3 devices)
TRY FREE FOR 14 DAYS
See details
See details
If you have an active account, log in
here
.