UOB Kay Hian has upped its target price for Singapore Press Holdings (SPH) accompanying its “buy” call after the company released its 3Q2021 business update on July 19.

See also: SPH's digital circulation grows while print ad revenue declines, EGM expected in Aug-Sept

UOB Kay Hian analyst Lucas Teng has raised his sum-of-the-parts valuation for SPH to $2.00 on the back of the higher SPH REIT price, as well as a higher valuation of SPH’s student accommodation assets.

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