Stock Name: SGX
Company Name: SINGAPORE EXCHANGE LIMITED
Research House: OCBC
“Valuations for SGX and its regional peers have moved up and are now close to almost previous peak valuations (which went as high as 35X earnings). However, we are reluctant to accord such high valuations which were then partly fuelled by merger talks,” house says.
Company Name: SINGAPORE EXCHANGE LIMITED
Research House: OCBC
OCBC downgrades Singapore Exchange (S68.SG) to Sell from Hold on valuation grounds; says 1Q results were in line with expectations, retains FY profit estimate of $362.9 million, says Dow Jones.
“Valuations for SGX and its regional peers have moved up and are now close to almost previous peak valuations (which went as high as 35X earnings). However, we are reluctant to accord such high valuations which were then partly fuelled by merger talks,” house says.
Fair value estimate of stock at $8.60 vs $8.35 previous. SGX down 1.3% at $9.91%.
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