Robinson Department Store
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Robinson Suphanburi makes its debut; warm reception Outperform - Maintained Share price: Bt 47.75 Target price: Bt 50.00
Robinson Department Store Plc (ROBINS)
We believe the opening of Robinson Suphanburi not only underlines the immense potential in the upcountry but also the viability of the lifestyle centre model. We like ROBINS for its upcountry dominance, growing economies of scale and strong balance sheet. We maintain our estimates, DCF-based target price (3.5% LTG, 10.8% WACC) and Outperform call.
