Not vested. From UOBKH:-
PE 24; EPS Growth 12% ?
Valuation/Recommendation
• Maintain BUY. Daphne is trading at around fully-diluted 23.6x 2010F PE vs over 30x for Belle and other leading consumer names such as Wumart, Golden Eagle, Tingyi and Want Want.
From a historical perspective, Daphne’s PE is still 17% off its peak of 30x. Given the overall re-rating of the sector, we raise our target 2011F PE from 20x to 25x, implying 1x PEG or target price of HK$11.70.
Share Price Catalyst
• The release of 3Q10 operating figures after the Golden Week holiday.
http://research.uobkayhian.com/research ... 149245.pdf