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S68 - Singapore Exchange News Story

S$10.1 -0.0  -0.1%

Last Trade - 10:04am

Large Cap
Market Cap £5.78bn
Enterprise Value £5.55bn
Revenue £584.6m
Position in Universe 273rd / 6102

BUZZ-Singapore Exchange at 9-1/2-year high, Citi raises earnings estimates

Wed 8th April, 2020 8:55am
** Shares in Singapore Exchange (SGX)  SGXL.SI  rise as much
as 2.8% to S$9.85, their highest in nearly 10 years, while the
broader market index  .STI  slumps 1.7%
    ** Citi raises earnings estimates and target price on SGX,
citing higher volumes due to market volatility
    ** Says SGX expected to be a key beneficiary in both a surge
in equity turnover and derivative contract volumes
    ** Raises FY2020-2022 net profit forecasts by 7%-12%;
upgrades target price to S$10.8 from S$9.6
    ** Says prefers SGX over banks in Singapore financials
    ** SGX shares are up 8.1% YTD as of Tuesday's close; Out of
13 recommendations, 4 analysts rate the stock as a "buy" or
higher, 5 a "hold" and 4 a "sell"; median target price is S$9.1

 (Reporting by Anshuman Daga in Singapore)
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