Stock Name: SGX
Company Name: SINGAPORE EXCHANGE LIMITED
Company Name: SINGAPORE EXCHANGE LIMITED
| Research House: Credit Suisse | Price Call: HOLD | Target Price: 7.75 |
Credit Suisse has cut its target price for Singapore Exchange (SGX) (SGXL.SI) to $7.75 from $9.00 and kept its neutral rating.
SGX’s performance in the near term is closely linked to current volumes for equity and derivative markets, which have weakened recently and represent downside risks to the exchange’s earnings and ratings, Credit Suisse said.
SGX’s performance in the near term is closely linked to current volumes for equity and derivative markets, which have weakened recently and represent downside risks to the exchange’s earnings and ratings, Credit Suisse said.
It has also cut its earnings per share estimate for SGX in fiscal 2011 by 13% and by 26% for the following year.
However, Credit Suisse noted that SGX may see growth in the longer term through its strategy of positioning itself as a regional exchange offering international investors different ways to gain access to Asian markets.
At 10:13 a.m., shares of SGX were 1.1% lower at $7.42, and have fallen about 12% since the start of the year.
No comments:
Post a Comment