Reuters: Hot Stocks: STOCKS NEWS ASEAN-DBS raises F&N target price, trims estimates

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STOCKS NEWS ASEAN-DBS raises F&N target price, trims estimates Mar 22nd 2012, 03:38 Wed Mar 21, 2012 11:38pm EDT DBS Vickers increased its target price for Singapore's property and food and beverage conglomerate Fraser and Neave Ltd (F&N) to S$7.70 from S$7.20 and kept its buy rating, citing a higher market value of its listed entities. The broker said F&N is also a good proxy to its unit Asia Pacific Breweries Ltd, which has a strong geographical presence in Southeast Asia but whose shares have limited liquidity. Although DBS trimmed its earnings forecast for F&N by 12 and 6 percent in 2012 and 2013 respectively to reflect the recognition of earnings on the completion of its overseas projects, its property sales remain robust, it said. By 0306 GMT, F&N shares were up 0.9 percent at S$6.88, and have gained 11 percent since the start of the year. 1120 (0320 GMT) (Reporting by Charmian Kok in Singapore) Reuters messaging rm://charmian.kok.thomsonreuters.com@reuters.net ************************************************************ STOCKS NEWS ASEAN-Singapore's index futures flat Singapore MSCI March futures were flat on Thursday, indicating the benchmark Straits Times Index is likely to have a lacklustre start. Asian shares inched up on Thursday but remained in ranges as investors waited for manufacturing data from China and the euro zone due this session for more clues about the state of their economies. (Reporting by Eveline Danubrata in Singapore) Reuters messaging rm://eveline.danubrata.thomsonreuters.com@reuters.net (Reporting by Eveline Danubrata) Link this Share this Digg this Email Reprints

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