In a report last Friday, DBS analyst Ling Lee Keng says she sees value emerging from mm2 at its 30 May closing price of 24 cents, which implies that the market values the its core production and cinema segment at just $144 million.
SINGAPORE (June 4): DBS Vickers Securities is upgrading its call on mm2 Asia from “hold” to “buy” while raising its target price by a cent to 34 cents, which is pegged to 16 times FY20F earnings for the core business, and in line with listed peers in Asia.
Meanwhile, CGS-CIMB Research maintains its “add” call on the stock with an unchanged target price of 37 cents.
