SGX - SGX target raised to $10.50 from $9.50 by UBS

Stock Name: SGX
Company Name: SINGAPORE EXCHANGE LIMITED
Research House: UBS

UBS raises Singapore Exchange (S68.SG) target price to $10.50 from $9.50 after raising fiscal FY12-13 EPS estimates by 4.7%-12.2%, says Dow Jones.



Changes reflect increased securities trading assumptions: “We think a return to (FY08 trading) level after four years on more listings and a bigger pool of market makers is plausible.”

Says if trading of ADRs in Singapore, available from Oct 22, proves successful, Indian and Korean depository receipts could be next to list, further boosting trading volume. Keeps Buy call.



Shares +0.2% at $9.50.