Reuters: Hot Stocks: STOCKS NEWS SINGAPORE-DMG raises SGX target to S$5.30, keeps sell

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STOCKS NEWS SINGAPORE-DMG raises SGX target to S$5.30, keeps sell Sep 12th 2012, 03:51 Tue Sep 11, 2012 11:51pm EDT DMG & Partners Securities raised its target price on Singapore Exchange Ltd (SGX) to S$5.30 from S$5.00, but maintained its 'sell' rating on the bourse operator. SGX shares were down 0.6 percent at S$6.88 on Wednesday. The stock has gained 12 percent so far this year versus the 14 percent gain in the broader Straits Times Index. SGX recorded average daily turnover (ADT) of S$1.41 billion ($1.15 billion) in August, up from S$1.23 billion in July, largely due to increased trading of Fraser and Neave Ltd shares, DMG said. Thai Beverage PCL is working with a partner on a potential bid for F&N to get its hands on the Singapore company's property and soft drinks businesses after Heineken NV took pole position in the battle to buy F&N's prized beer brewer. But SGX's nine-year ADT compound annual growth rate is half that of Hong Kong Exchanges and Clearing Ltd (HKEx), DMG said, adding that HKEx is more likely to be a beneficiary of foreign funds inflow than SGX. 1145 (0345 GMT) (Reporting by Eveline Danubrata in Singapore; eveline.danubrata@thomsonreuters.com) ************************************************************ 09:08 STOCKS NEWS SINGAPORE-OCBC ups Dyna-Mac target price OCBC Investment Research raised its target price for offshore services firm Dyna-Mac Holdings Ltd to S$0.62 from S$0.52, and kept its 'buy' rating, citing improving outlook for the industry. Shares of Dyna-Mac rose 1.9 percent to S$0.525 and have surged 23.5 percent so far this year, compared to the FT ST Oil & Gas Index's 26.7 percent rise. Fundamentals driving the floating production systems are robust and recent orders have been at a near record pace, according to the International Maritime Associates, and OCBC said Dyna-Mac could capture a fair share of new orders. The company is also increasing its yard capacity to meet growing demand. It acquired a 70 percent stake in fabrication yard in Guangzhou, China and rented another yard in Johor, Malaysia, increasing production capacity by at least 80 percent, OCBC said. 0900 (0100 GMT) ($1 = 1.2293 Singapore dollars) (Reporting by Charmian Kok in Singapore; charmian.kok@thomsonreuters.com) Link this Share this Digg this Email Reprints

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