What’s next for SGX?

SINGAPORE (July 28): DBS Vickers Securities is keeping its “hold” call on Singapore Exchange (SGX) with a higher target price of $7.80 from $7.70 previously.

This comes after the bourse reported earnings flat at $349 million for FY2016 ended June, after being negatively impacted by a $6 million impairment charge on its investment in the Bombay Stock Exchange.

Net profit was down 20% in 4Q16 to $78.8 million on 8% drop in turnover to $198.1 million due to higher expenses.

---

Related Stories

• Lim & Tan Securities maintains ‘buy’ on Grand Banks Yachts; almost doubles TP to $1.05
• Brokers’ Digest: AEM, Prime US REIT, Hyphens Pharma, Seatrium, Valuetronics, DFI Retail Group, CDG, Centurion, Sembcorp
• RHB raises target price for SGX to $12.80 from $11.40, citing higher than expected trading volume

---