SINGAPORE (Mar 1): UOB Kay Hian is maintaining its “buy” call on Singapore Medical Group (SMG) with a P/E-based target price of 83 cents, pegged to the peer average FY18 P/E ratio of 26.8 times.
In a Thursday report, analyst Nicholas Leow highlights that the group’s 4Q17 results announced yesterday were in line with UOB’s estimates with FY17 earnings more than trebling to $8.5 mil due to earnings-accretive acquisitions made during the year – which in turn added other disciplines to the SMG specialist verticals.
