Furthermore, it expects Q&M to “mark record profits” from FY2021 onwards driven by its “robust dental outlet expansion and earnings contribution from its new Covid-19 testing segment”.
CGS-CIMB Research analysts Lim Siew Khee, Cezzane See and Kenneth Tan have initiated “add” on Q&M Dental Group with a target price of 92 cents, representing a 42.6% upside on the counter’s current price of 65 cents.
The way the analysts see it, the group’s core dental business is “almost recession-proof” after it saw FY2020 revenue and core profit climb 8% and 45% y-o-y respectively, even without the aid of government grants provided.
