Broker Name: CGS International Securities
Date of Report: March 13, 2026
Excerpt from CGS International Securities report.
Report Summary
- Q&M Dental Group is expected to see significant earnings growth if its planned M&A deals in Australia, Thailand, and Singapore are completed, with a potential FY27F EPS upside of around 126.7%.
- The M&A targets come with profit guarantees of 5-8 years, and the deals will be funded by a mix of cash and new shares, with the latter issued at a premium price and subject to a 15-year moratorium.
- In the near term, higher finance costs from a recent S\$130m medium-term note issuance are expected to reduce earnings, but the broker maintains an “Add” rating and raises the target price to S\$0.68, citing strong growth prospects from regional expansion.
- Key risks include delays or cancellations of M&A deals, higher-than-expected acquisition valuations, and execution risks in integrating new businesses.
- Q&M is also advancing in dental technology and ESG initiatives, which could enhance brand reputation and future profitability.
above is an excerpt from a report by CGS International Securities. Clients of CGS International Securities can be the first to access the full report from the CGS International Securities website: https://www.cgs-cimb.com
