notes: WLCON/WILCON DEPOT, INC.

COL FINANCIAL EARNINGS ANALYSIS (22 MAY 2018)

The consensus rating on WLCON is a HOLD* with a FV estimate of 11.40/sh. Based on its current price of 11.98/sh, WLCON is trading at 30.63x 2018E P/E based on consensus estimates. This is premium compared to the average P/E of its regional peers at 23.11x P/E.


*BUY

Stocks that have a BUY rating have attractive fundamentals and valuations based on our analysis. We expect the share price to outperform the market in the next six to 12 months.

HOLD

Stocks that have a HOLD rating have either 1) attractive fundamentals but expensive valuations 2) attractive valuations but near-term earnings outlook might be poor or vulnerable to numerous risks. Given the said factors, the share price of the stock may perform merely in line or underperform in the market in the next six to twelve months.

SELL

We dislike both the valuations and fundamentals of stocks with a SELL rating. We expect the share price to underperform in the next six to12 months.