Hyphens Pharma | Buy (initiate) July 3 close: S$0.20 Target price: S$0.25 RHB Research Institute, July 3

Hyphens Pharma is one of Singapore's leading specialty pharmaceutical (pharma) and consumer healthcare groups with an Asean presence.

We believe the market is currently undervaluing the group's potential. As at Tuesday's closing, the stock was trading at 9.6 times FY19F P/E (compared to the industry average 17.8 times) and offers a decent yield of 2.8 per cent.