His move follows the group’s 1H2021 earnings of $7.2 million, up 108% y-o-y due to the low base of the year before.
UOB Kay Hian (UOBKH) is maintaining its “buy” call and target price of 48 cents on Singapore Medical Group (SMG).
This is pegged to its peers’ average price-to-earnings (PE) of 17x 2021 PE and is believed to give the counter a 45.5% upside from its 33 cent price, analyst Lucas Teng writes in an Aug 4 note.
