CGS-CIMB Research is maintaining its “add” call and target price of $3.60 on SBS Transit.

This call is pegged to the company’s 5-year historical average price-to-earnings of 13.2x, explain analysts Ong Khang Chuen and Darren Ong say in a Feb 9 flash note.

They believe it will give the counter a 21.6% upside from its $2.96 price on Feb 9.

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