Reuters: Hot Stocks: STOCKS NEWS SINGAPORE-Nomura cuts SGX target to S$7.60

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-Nomura cuts SGX target to S$7.60 Aug 23rd 2012, 01:55 Wed Aug 22, 2012 9:55pm EDT Nomura cut its target price on Singapore Exchange Ltd (SGX) to S$7.60 from S$9.40 and maintained its 'neutral' rating, saying that the bourse operator's sluggish revenue momentum is expected to continue. SGX shares were unchanged on Thursday morning. The stock has risen 13.5 percent so far this year versus a 16 percent gain in the broader Straits Times Index. Nomura said the drop in its target price was mainly to reflect lower expectations for SGX's securities average daily value traded (DVT) to S$1.3 billion ($1.04 billion) from S$2.0 billion. It added that DVT will have to recover above S$1.5 billion to support a re-rating. But SGX is diversifying its revenue base in terms of products and geographies, Nomura said, adding that potential tie-ups with other bourses could generate upside to revenue. 0950 (0150 GMT) (Reporting by Eveline Danubrata in Singapore; eveline.danubrata@thomsonreuters.com) ($1 = 1.2517 Singapore dollars)

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