UOB Kay Hian Research is initiating coverage on media content provider mm2 Asia as cinemas and concerts prepare for a “blockbuster recovery” in Singapore.

In an Apr 27 note, UOB Kay Hian Research analysts Lucas Teng and John Cheong initiate with “buy”, along with a target price of 9.8 cents, representing a 42.0% upside. 

“Hard hit by the Covid-19 pandemic, the group is a good proxy for the recovery in activities, including the resumption of concerts/events and normalisation of seating capacity in cinema theatres with a bumper slate of blockbusters in 2021,” write Teng and Cheong. 

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