SGX maintained at 'hold' by OCBC with same target price of $7.26

Stock Name: OCBC Bank
Company Name: OVERSEA-CHINESE BANKING CORP

Research House: OCBC

Price Call: HOLD

Target Price: 7.26

SINGAPORE (Oct 23): OCBC has kept its "hold" call on Singapore Exchange and maintained its target price of $7.26 as outlook for the securities market continue to look challenging.

In an Oct 23 report, OCBC Investment Research says SGX's 1QFY15 came in within its expectations.

Singapore's bourse operator posted 1QFY15 net earnings of $77.6 million, in line with consensus estimate of $78.6 million.

This is down 16% from a year ago.

Revenue fell 8% to $168.9 million.

Management has declared an unchanged dividend of 4 cents payable on 6 Nov 2014.