DBS Group Research has initiated “hold” on SBS Transit with a target price of $3.44.

The target price implies a 13% upside to the counter’s market price of $3.03 at close on Sept 1. It also represents SBS’s 10-year mean price-to-book (P/B) of 1.74 times.

To analysts Woon Bing Yong and Paul Yong, SBS is a “hold” at its current prices.

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