SINGAPORE (Aug 24): Maybank Kim Eng has initiated coverage on Best World International with a "buy" recommendation and a target price of $2.63.
"With Best's entrenched position in ASEAN and growing presence in China and Taiwan, it is well-positioned to scale up in its fast-growing key markets," says Maybank analyst John Cheong in a Wednesday report.
The multi-channel distributor of skincare and wellness products saw earnings in the first half of 2016 surge to $13.3 million, close to a six-fold increase from the $2.4 million posted in 1H15.
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