Jardine Matheson - CGS-CIMB Research 2020-12-01: Awaiting A Slow Recovery

JARDINE MATHESON HLDGS LTD (SGX:J36) | SGinvestors.io JARDINE MATHESON HLDGS LTD (SGX:J36)

Jardine Matheson - Awaiting A Slow Recovery

  • We believe Jardine Matheson's share price has priced in short-term recovery expectations.
  • 4Q20F performance remains weak and the road to recovery will be slow and long.
  • Hence, we downgrade our call for Jardine Matheson to HOLD from Add previously.



Sequential improvement in business



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Slow recovery ahead – downgrade Jardine Matheson to HOLD






William TNG CFA CGS-CIMB Research | https://www.cgs-cimb.com 2020-12-01
SGX Stock Analyst Report HOLD DOWNGRADE ADD 54.68 UP 48.610



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