PublicInvest positive over Wegmans acquisition

KUALA LUMPUR: PublicInvest Research is optimistic over Wegmans Holdings Bhd's acquisition of equity in Wison Screw Industries as it provide better synergies and generate a new earnings stream.

"Based on our estimate, Wegmans could see an earnings uplift of 9-20% in FY21-22F while EPS is expected to only increase by 3-9%, given the dilution effect from new share issuance," it said in a note, while maintaining its "outperform" recommendation.