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Brokers' take

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We upgrade our recommendation to "hold" (from "fully valued") with an adjusted target price of S$1.22. Since the July 7 train disruption incident and our downgrade thereafter, SMRT's share price has dropped by about 24 per cent in two months.

SMRT Corp

Hold

Sept 4 close: S$1.18

Target price: S$1.22

DBS Group Research, Sept 4

We upgrade our recommendation to "hold" (from "fully valued") with an adjusted target price of S$1.22. Since the July 7 train disruption

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