UOB Kay Hian (UOBKH) is maintaining its “buy” call on private specialist and healthcare services provider Singapore Medical Group (SMG), but at a higher target price of 46 cents. 

This is up 9 cents from its previous 37 cent call and follows the group’s Dec 18 2020, disclosure of a possible transaction involving the company’s shares, analyst Lucas Teng explains in a Jan 11.

His revised target price is line with the 12% increase in SMG’s price since the announcement. Teng believes it will give the counter a 39.4% upside from its 33 cent price on Jan 11.

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