AST [MARKET PERFORM +5.3%] - Resurgence of COVID-19 slows recovery - Update
  • 27 Aug 2020
  • Company Research
Our lower TP is mainly driven by a 12% cut in our aggregate 2020F-2023F NPAT-MI forecast (-85%/-19%/-10%/-1% for 2020/21/22/23F, respectively). This cut is underpinned by (1) 21/1/1-ppt decrease in our same store sales growth (SSSG) assumptions in 2020/21