UOB Kay Hian (UOBKH) is maintaining its “buy” call and target price of 48 cents on Singapore Medical Group (SMG). 

This is pegged to its peers’ average price-to-earnings (PE) of 17x 2021 PE and is believed to give the counter a 45.5% upside from its 33 cent price, analyst Lucas Teng writes in an Aug 4 note.

His move follows the group’s 1H2021 earnings of $7.2 million, up 108% y-o-y due to the low base of the year before. 

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