Moody's Ratings (Moody's) has completed a periodic review of the ratings of Central Garden & Pet Company and other ratings that are associated with this issuer. The review was conducted through a rating committee held on 23 January 2025 in which we reassessed the appropriateness of the ratings in t...
KEY HIGHLIGHTS Results Centurion Corp (CENT SP/BUY/S$0.655/Target: S$0.85) 1H24: Growth outlook undimmed. Maintain BUY with a higher target price of S$0.85. Frencken Group (FRKN SP/BUY/S$1.40/Target: S$1.74) 1H24: Results within expectations; outlook appears more bullish. Singapore Post (SPOST SP/BUY/S$0.44/Target: S$0.61) 1QFY25: Strong quarter; on track to deliver robust profit growth in FY25. TRADERS' CORNER Thai Beverage (THBEV SP): Trading BUY ...
GREATER CHINA Sector Banking: 2Q24 results preview: Shifting away from volume to price. Results Li Ning (2331 HK/BUY/HK$13.10/Target: HK$19.90): 1H24: Better-than-expected results; trim revenue guidance but maintain margin expectation for 2024. Upgrade to BUY. ZTE Corporation (763 HK/BUY/HK$16.76/Target: HK$19.00): 2Q24: Product mix deterioration offset by cost controls. INDONESIA Update Bukalapak.com (BUKA IJ/BUY/Rp120/Target: Rp270): Sustainable positive adjusted EBITDA. MALAYSIA Small/Mid C...
CENT delivered better-than-expected 1H24 core net profit of S$53m (+48% yoy), driven by strong occupancies and positive rental revisions across both its PBWA and PBSA segments. We forecast strong volume growth for both segments over the next two years which, together with strong pricing trends, underpins our BUY rating. Target price upgraded to S$0.85.
Moody's Investors Service ("Moody's") today affirmed Central Garden & Pet Company's ("Central") Ba3 Corporate Family Rating ("CFR"), Ba3-PD Probability of Default Rating ("PDR"), and the B1 ratings on Central's senior unsecured notes. Moody's upgraded the company's speculative grade liquidity rating...
NEPTUNE CITY, N.J.--(BUSINESS WIRE)-- Nylabone, an iconic brand in the Central Garden & Pet Company portfolio (NASDAQ: CENT) (NASDAQ: CENTA), has donated chew toys, treats, and monetary contributions valued at almost $1,000,000 to animal welfare groups in 2023. The donations were made through the brand’s Nylabone Cares program, which has regularly supported non-profit organizations across the country for years. This press release features multimedia. View the full release here: Nylabone Gives Donations Valued at Over $900,000 to Animal Welfare Groups in 2023 (Graphic: Business Wire) Throughou...
GREATER CHINA Sector Aviation: Airlines’ Oct 23 operational data: Recovery continued at a moderate pace; overcapacity issue remains. Maintain UNDERWEIGHT. Initiate Coverage Longi Green Energy Technology (601012 CH/BUY/Rmb23.71/Target: Rmb27.39): Solar modules: China’s dominance to persist; riding on the installation boom. Results Alibaba Group (9988 HK/BUY/HK$81.35/Target: HK$115.00): 2QFY24: Strong AIDC growth; cloud distribution cancelled due to chip restrictions. Lenovo Group (992 HK/BUY/HK$9...
GREATER CHINA Sector Commodities: Weekly: Worsening property crisis weighing on economic recovery outlook. INDONESIA Update Bank Central Asia (BBCA IJ/BUY/Rp9,350/Target: Rp10,300): Plenty of room to grow its assets and NPAT. MALAYSIA Results KLCCP Stapled Group (KLCCSS MK/HOLD/RM6.77/Target: RM7.19): 2Q23: Earnings improve on higher occupancies in retail and hotel. Update TIME dotCom (TDC MK/BUY/RM5.40/Target: RM6.40): 2Q23 results preview: High single-digit growth supported by retail, wholes...
KEY HIGHLIGHTS Results AEM Holdings (AEM SP/BUY/S$3.11/Target:S$3.65): 1H23: Earnings miss forecasts, but major negative news priced in; upgrade to BUY. Centurion Corp (CENT SP/BUY/S$0.425/Target: S$0.50): 1H23: Strong tailwinds seen, which should persist well into 2025. Raise target price to S$0.50 and re-iterate BUY. Frencken Group (FRKN SP/BUY/S$0.82/Target: S$1.00): 1H23: Earnings in line with expectations; stable outlook expected for 2H23. Upgrade to BUY. United Hampshire US REIT (UHU S...
CENT’s strong results in 1H23, with revenue up 8% yoy to $98m and PATMI up 16% to $38.3m, were driven by strong occupancies and positive rental revisions across both of its PBWA and PBSA segments. Going forward, we expect CENT to continue to see strong volume and rental growth with a strong pipeline of new contracts and robust demand. Maintain BUY. Target price: S$0.50.
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