Reuters: Hot Stocks: STOCKS NEWS SINGAPORE-CIMB downgrades Keppel T&T to neutral

Reuters: Hot Stocks Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

STOCKS NEWS SINGAPORE-CIMB downgrades Keppel T&T to neutral Apr 11th 2012, 01:47 Tue Apr 10, 2012 9:47pm EDT CIMB Research cut its rating on Singapore logistics firm Keppel Telecommunications & Transportation Ltd (Keppel T&T) to neutral from outperform and lowered its target price to S$1.22 from S$1.24. Keppel T&T shares were unchanged at S$1.23, and have gained 11 percent since the start of the year. CIMB lowered its earnings per share estimates for Keppel T&T by 1-5 percent for 2012-2014 to account for higher interest expense as it borrows more to fund developments. The broker said that while the company's expansion into Jilin in China should help develop its core logistics business further, meaningful contributions from the country will only come in after a few years. "While its core logistics and data-centre earnings could continue to grow, full-year contributions from new warehouse capacity and data-centre expansion are largely in the price," said CIMB. 0943 (0143 GMT) (Reporting by Charmian Kok in Singapore; charmian.kok@thomsonreuters.com) ************************************************************ 09:24 STOCKS NEWS SINGAPORE-OCBC cuts Cache Logistics target price OCBC Investment Research has cut its target price for Singapore's Cache Logistics Trust to S$1.11 from S$1.19, while keeping its buy rating, to reflect the private placement of new units. Units of Cache were unchanged at S$0.995 and have gained 4.8 percent so far this year. Last month, Cache Logistics issued 60 million new units at S$0.985 each, which saw strong take-up from Asian and European investors, the broker said. Proceeds will be used to fund the purchase of a Singapore industrial property and the acquisition will give the trust additional debt headroom of S$120 million, OCBC said. "We continue to favour Cache as one of the preferred picks in the industrial REIT (real estate investment trust) space," it added. (Reporting by Charmian Kok in Singapore; charmian.kok@thomsonreuters.com) ************************************************************ 08:49 STOCKS NEWS SINGAPORE-Index futures down 1 pct Singapore index futures are currently down by about 1 percent, signalling a weak start for the benchmark Straits Times Index on Wednesday. Asian shares were lower in early trade, as uncertainty over global growth prospects, and resurfacing worries about debt restructuring in the euro zone, prompted investors to continue trimming their risk exposures. For related story, click [ID:nL3E8FA2VY} (Reporting by Charmian Kok in Singapore; charmian.kok@thomsonreuters.com) Link this Share this Digg this Email Reprints

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions