Reuters: Hot Stocks: STOCKS NEWS SINGAPORE-UOB raises target on DBS to S$19.50

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STOCKS NEWS SINGAPORE-UOB raises target on DBS to S$19.50 Apr 30th 2012, 02:32 Sun Apr 29, 2012 10:32pm EDT UOB Kay Hian raised its target price on DBS Group Holdings Ltd, Southeast Asia's largest bank, to S$19.50 from S$16.20 and maintained its buy rating. As of 0225 GMT on Monday, DBS shares were down 0.4 percent at S$13.94, but have risen more than 21 percent this year. UOB Kay Hian raised its 2012 net profit forecast for DBS by 18.8 percent, citing net interest margin (NIM) improvements and lower credit costs, and projected its non-performing loan ratio to reach 1.4 percent, down from 1.8 percent, by year-end. UOB Kay Hian said DBS planned to deploy surplus deposits in Singapore to expand consumer and small and medium-sized enterprise businesses to bolster loan growth and NIM. Higher interest rates would also give DBS a huge boost because of its significant exposure to interbank lending and huge base of low-cost current and savings accounts, UOB added. For related stories, click: and 1014 (0214 GMT) (Reporting by Eveline Danubrata in Singapore; Editing by Chris Lewis; eveline.danubrata@thomsonreuters.com) ************************************************************ 09:30 STOCKS NEWS SINGAPORE-OCBC upgrades NOL to buy OCBC Investment Research upgraded container shipping firm Neptune Orient Lines to buy from hold but maintained its target price of S$1.38, citing a recent share price fall despite increasing freight rates. NOL shares were up 0.4 percent at S$1.21. The stock has fallen about 17 percent from its recent high of S$1.45 on April 3, much further than a 1.5 percent fall in the broader market . "The correction in NOL's share price does not seem warranted," OCBC said. The Shanghai (Export) Containerised Freight Index was currently 43 percent higher than last year, with Shanghai to Europe freight rates more than doubling, OCBC said. It added that transpacific freight rates were significantly higher than a year ago. OCBC said shipping liners, including NOL, are profitable at current freight rates. After collectively losing at least $6 billion in 2011, liners are more disciplined in managing shipping capacity and refraining from price wars, it added. 0909 (0109 GMT) (Reporting by Eveline Danubrata in Singapore, editing by Richard Pullin; eveline.danubrata@thomsonreuters.com) ************************************************************ 08:52 STOCKS NEWS SINGAPORE-Index futures rise 0.5 pct Singapore index futures rose 0.5 percent early on Monday, indicating a higher start for the benchmark Straits Times Index. Asian shares inched higher on Monday as weaker-than-expected U.S. growth data left open the possibility of more monetary stimulus from the Federal Reserve, but trading will likely be subdued with Japanese and Chinese markets closed. 0842 (0042 GMT) (Reporting by Eveline Danubrata in Singapore; eveline.danubrata@thomsonreuters.com) Link this Share this Digg this Email Reprints

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