SINGAPORE (Oct 18): Credit Suisse is initiating coverage of the Singapore Exchange (SGX) with a “neutral” call and a target price of $7.60, citing lack of near-term catalysts.
Analyst Rikin Shah believes that SGX’s investment case lies in its long-term growth through equities and its Asian gateway strategy.
“Nearer term, its fortunes are more linked to the current level of market activity, which remains uninspiring, with a risk of further seasonal slowdown in 4Q,” says Rikin.
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