DBS Group Research analyst Paul Yong and the Singapore research team have kept their “buy” recommendation on Kimly with the same target price of 50 cents.

The target price, which represents a 20% upside to the counter’s last-traded price of 41.5 cents as at Nov 29, is pegged to a 15 times FY2022 price-to-earnings (P/E) ratio, which is its five-year average.

As at Yong’s report on Nov 30, Kimly is trading at an “undemanding” 12 times FY2022 P/E, 0.5 standard deviation below its five-year mean of 15 times.

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