SINGAPORE (Dec 20): Maybank Kim Eng is initiating coverage on Singapore Exchange (SGX) with a “Buy” call and a target price of S$8.30.
“SGX is a good proxy to ride the cyclical upturn,” says analyst Ng Li Hiang in a Wednesday report. “We see support from its strong cash position, healthy balance sheet and decent dividend yields of close to 4%.”
According to Ng, SGX’s earnings has scope to improve on the back of three main factors: a healthy market cap from a healthy IPO pipeline; a stronger momentum of securities daily average traded value (SDAV) from an improving economic outlook; and growth from...(click on link for full story on theedgesingapore.com)