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Coming soon to mm2 Asia: Hollywood blockbusters, NFTs and full recovery by FY2024: UOB Kay Hian

Jovi Ho
Jovi Ho2/14/2022 11:33 AM GMT+08  • 5 min read
Coming soon to mm2 Asia: Hollywood blockbusters, NFTs and full recovery by FY2024: UOB Kay Hian
UOB Kay Hian Research analysts expect earnings to post a sharp recovery from FY2022, driven by all three business segments.
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Film production company and cinema operator mm2 Asia is reaching an inflection point with strong recovery ahead, writes UOB Kay Hian Research, which is keeping a “buy” call but with a higher target price of 11.5 cents, from 9.5 cents previously.

In a Feb 14 note, analysts at the brokerage expect earnings to post a sharp recovery from FY2022 onwards, driven by all three segments.

“Cinema attendance is expected to recover as the majority of Singapore’s and Malaysia’s populations are vaccinated, a robust pipeline of core production business of $150 million to $190 million in the next two to three years, and resumption of in-person concerts,” the analysts write.

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