Q&M Dental kept at ‘buy’ by Maybank Kim Eng with higher $1.05 price target

SINGAPORE (May 25): Maybank Kim Eng maintains its “buy” rating for Q&M Dental Group and raising its price target to $1.05 price from 88 cents previously.

This is due to the removal of stock overhang on 23 May after a substantial shareholder, Heritas Helios Investments, allowed its option to subscribe for up to 63 million of the company’s shares to lapse.

“The latest development is positive for the stock as the potential overhang of new scrips in the market has weighed on share price,” says analyst John Cheong in a Tuesday report.

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