Reuters: Hot Stocks: STOCKS NEWS SINGAPORE-Nomura raises SPH target to S$4.28

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 raises SPH target to S$4.28 Sep 18th 2012, 02:00 Mon Sep 17, 2012 10:00pm EDT Nomura raised its target price on Singapore Press Holdings Ltd to S$4.28 from S$4.15 after updating its earnings estimates and valuation for the Singapore media and property firm's retail mall assets, but maintained its 'neutral' rating. SPH shares were flat at S$4.01 on Tuesday. The stock has increased nearly 9 percent so far this year versus the 16 percent gain in the broader Straits Times Index. In the third quarter of 2012 fiscal year, property profit before tax grew 42 percent to S$26.4 million ($21.6 million) from a year earlier on higher rental income from SPH's Paragon and Clementi shopping malls, Nomura said, noting that both are enjoying full occupancy. But Nomura said SPH's August newspaper weekly page count was down 4.6 percent year-on-year, based on its monthly average, indicating that display advertising was weaker last month. "While dividend yields remain attractive at 5.5 percent, given the tepid growth outlook and just 6.7 percent upside to our revised target price, we maintain our neutral rating on the stock," Nomura said. 0950 (0150 GMT) (Reporting by Eveline Danubrata in Singapore; eveline.danubrata@thomsonreuters.com) ************************************************************ STOCKS NEWS SINGAPORE-OCBC raises target on Wilmar to S$3.06 OCBC Investment Research raised its target price on Singapore palm oil firm Wilmar International Ltd to S$3.06 from S$2.90, saying the market is less averse to taking risk after the U.S. stimulus, but maintained its 'hold' rating. Wilmar shares were down 0.6 percent at S$3.27 on Tuesday. The stock has jumped 9 percent since the company launched its first-ever share buyback and the U.S. Federal Reserve stimulus sparked a rally in commodities stocks last week. OCBC said while "the market is adopting a more risk-on approach on the back of QE3", Wilmar's fundamental outlook is still rather muted. It advised investors to take profit when Wilmar's share price hits S$3.40 or higher. Crush margins in China for Wilmar's oilseeds business remain sub-optimal due to excess capacity in the industry, while prices of soy and other raw materials are still volatile, OCBC said. It added that cooking oil products could continue to face price freeze given the growing unemployment and inflationary concerns in China. Cooking oil makers like Wilmar could face margin compression due to rising input prices, OCBC noted. 0909 (0109 GMT) (Reporting by Eveline Danubrata in Singapore; eveline.danubrata@thomsonreuters.com) ($1 = 1.2239 Singapore dollars) 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