As the country moves towards the end of this period, it will undergo a 3-phased easing process that could last months, suggesting a slower economic recovery from Covid-19. With that, Lee and Seet cut FY20 earnings forecast by 47% and expects a U-shaped recovery in FY21.
SINGAPORE (May 27): RHB Group Research is keeping “neutral” on Singapore Medical Group (SMG) but with a lowered target price of 25 cents from 35 cents previously, as uncertainties are still present.
In a Tuesday report, analyst Lee Cai Ling and Jarick Seet says, “Travel restrictions and closure of the aesthetic business due to the Government’s Circuit Breaker has impacted Singapore Medical Group.”
