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UOB KH lifts SGX's TP to $9.74 on projected y-o-y growth from most segments

Felicia Tan
Felicia Tan1/18/2022 03:35 PM GMT+08  • 6 min read
UOB KH lifts SGX's TP to $9.74 on projected y-o-y growth from most segments
The estimate, which excludes SGX’s cash equities segment, is based on “strong volumes” seen in the 1HFY2022.
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UOB Kay Hian analyst Llelleythan Tan has kept his “hold” recommendation on Singapore Exchange (SGX) before the exchange releases its 1HFY2022 results on Feb 4.

In his report dated Jan 18, Tan has, however, lifted SGX’s target price to $9.74 from $9.41 previously.

The higher target price is pegged to a price-to-earnings (P/E) multiple of 23.8 times FY2022 earnings, and +1 standard deviation of SGX’s historical forward P/E.

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