Singapore Press Holdings (T39.SG) is up 1.5% at $3.99 as media group's fiscal 3Q results, guidance supportive.

UBS, which has Buy call with $4.50 target, expects advertising revenue growth to remain resilient as SPH is proxy to Singapore economy.

“We expect this trend to continue in the coming quarters, especially since areas such as retail, tourism and the job market could sustain their growth in the near term.”

BNP Paribas, which has Reduce call with $3.35 target, less upbeat on earnings profile on view property income will decline: “The significant contribution over the past three years was from the opportunistic development of Sky@Eleven. As the project has come to an end, revenue is set to fall.”

Orderbook quotes suggest minimal upside beyond $4.00. 3Q earnings +29.9% on year at $164.6 million as revenue +26.9% at $415 million.