Reuters: Hot Stocks: STOCKS NEWS SINGAPORE-Tiger Air upgraded to hold by OCBC

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-Tiger Air upgraded to hold by OCBC May 22nd 2012, 01:48 Mon May 21, 2012 9:48pm EDT OCBC Investment Research upgraded Tiger Airways Holdings Ltd to hold from sell and raised its price target to S$0.67 from S$0.60, citing the budget carrier's improving operations and joint venture plans. Tiger shares were up 0.8 percent at S$0.645, bringing their gains to 1.6 percent so far this year. The FT ST Small Cap Index was up 0.6 percent. Tiger is on track to begin operations in Sydney as its second base from July this year, OCBC said, adding that the carrier will then be able to ramp up its operations to 64 sectors per day and optimise the utilisation of its 10 aircraft. OCBC also said Tiger's strategy of forming regional joint ventures, which can absorb some aircraft deliveries, is taking shape. But OCBC warned that execution risks are still a concern. Tiger's fleet will grow to 43 by the end of the 2013 fiscal year, which means Indonesia's PT Mandala Airlines and the Philippines' South East Asian Airlines have to each absorb another five aircraft from Tiger, OCBC said. If this fails, Tiger's core operations will again be saddled with too many aircraft, OCBC noted. For a related story, click 0927 (0127 GMT) (Reporting by Eveline Danubrata in Singapore; Editing by Muralikumar Anantharaman; eveline.danubrata@thomsonreuters.com ********************************************************* 08:51 STOCKS NEWS SINGAPORE-Index futures rise 1 pct Singapore index futures rose 1 percent early on Tuesday, indicating a higher start for the benchmark Straits Times Index. Asian markets kept gains on Tuesday after reclaiming some ground to move off lows for the year the day before, as hopes grew that Europe would embark on fresh action to address its debt crisis while promoting growth. 0847 (0147 GMT) (Reporting by Eveline Danubrata in Singapore; eveline.danubrata@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