SGX - SGX target raised to $11.00 by BNP Paribas; Keeps Buy call

Stock Name: SGX
Company Name: SINGAPORE EXCHANGE LIMITED
Research House: BNP Paribas

BNP Paribas lifts Singapore Exchange (S68.SG) target price to $11.00 from $9.40, based on 24x FY12 P/E, to account for expected increased trading liquidity in Singapore market given bourse operator's recent growth initiatives, says Dow Jones.



BNP Paribas keeps Buy call, cites trading of ADRs in Singapore of 19 major Asian companies from Oct 22 as key driver.

"There is zero competition from any other exchanges during Asian trading hours considering the fact that these ADRs are currently exclusively listed in the US," says research house, adding Singapore stock market will be supported by increased fund flows given low bank deposit rates, firmer SGD.



Shares +0.4% at $9.51.