Brokers' take
Singapore Medical Group (SMG) > Buy (upgraded) RHB Research Institute, June 7 June 7 close: S$0.38 Target price: S$0.48
AS of Thursday's close, SMG's share price has fallen by 15 per cent to S$0.38 from S$0.445 since May 10. SMG's stock had a one-year return of -22.4 per cent.
The share price fell due to recent market sentiment, coupled with SMG's higher operating cost as a result of its ongoing expansion plan. Another overhang could be the price disparity between the conversion price (at S$0.423/share) of the convertible loan, and the sale of vendor shares (at S$0.605/share), which may have raised some concerns on minority …
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