UBS: Maintains Tigermed (03347.HK) "Buy" rating and HK$52.6 target price; participation in Frontage Holdings (01521.HK) privatization may help focus on core business

Zhitong Finance APP has learned that UBS issued a research report stating that it maintains a "Buy" rating and a target price of HK$52.6 for Tigermed (03347.HK). Tigermed announced that it will participate in the privatization and business spin-off of Frontage Holdings (01521) through its wholly-owned subsidiary Hong Kong Tigermed. The bank believes that although divesting Frontage Holdings may affect some global synergies in the short term, the transaction is expected to improve Tigermed's business portfolio and capital allocation, while supporting the expansion of its overseas clinical CRO business, supplementing working capital, and enhancing shareholder returns.