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UOB Kay Hian starts Q&M Dental at 'buy' on twin growth engines and Covid-19 testing business

Felicia Tan
Felicia Tan6/29/2021 12:35 PM GMT+08  • 4 min read
UOB Kay Hian starts Q&M Dental at 'buy' on twin growth engines and Covid-19 testing business
UOB Kay Hian's target price of 94 cents is pegged to 20 times FY2022 price-to-earnings (P/E).
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UOB Kay Hian has initiated “buy” on Q&M Dental Group with a target price of 94 cents representing a 22.1% upside to the counter’s last-closed price of 77 cents as at June 29.

The target price is pegged to 20 times FY2022 price-to-earnings (P/E), which is Q&M’s historical five-year average.

“We think current valuations of 16 times FY2022 P/E for Q&M and [its] dividend yield of 5.2% are attractive, given that both its key segments will deliver robust growth and leadership position in the niche dental industry,” says UOB Kay Hian analyst John Cheong in a June 29 report.

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