News Snapshot:
higher profit margins more predictable earnings Our call is that in 2H21 a substantial re-rating is on the cards as investors “discover” the highly attractive aspects of being a GI pure play. On the call management was the most bullish we have heard them in years. Our Fair Value estimate remains unchanged at 1.38 SGD (including 0.2359 SGD dividend). This leaves another +/- 78% upside from its recent 0.80-0.81 SGD range. Once investor confusion abates, the deal closes we expect a serious re-discovery phase. By Mitchell Kim Coupang reported its quarterly earnings for the first time since its IPO on...
