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New clinics and Covid-19 testing business to drive Q&M's growth

The Edge Singapore
The Edge Singapore3/30/2021 04:06 PM GMT+08  • 2 min read
New clinics and Covid-19 testing business to drive Q&M's growth
Q&M aims to open 30 more clinics in Singapore and Malaysia over the coming decade
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Maybank Kim Eng’s Eric Ong has initiated coverage on dental chain operator Q&M Dental Group with a “buy” call and 87 cents target price.

The target price, according to Ong in his March 29 note, is pegged to 22 times FY2021 estimate earnings, which is a 15% discount off the sector average of 26 times.

Ong expects Q&M to record a faster compounded annual growth rate of around 30% for FY21 to FY23, versus 14% managed in FY198 – FY20, with growth driven by more clinics.

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