(February 7): Stock in Singapore Exchange Ltd has risen to its highest level since December 2007 as Bourse’s revenue and outlook has ignited investor enthusiasm.
Stock prices rose 10% on Friday, up in the second session after Singapore’s stock exchange operators reported double-digit profits on six months of revenue and net profits on Thursday. At least seven analysts have raised their target price, according to data compiled by Bloomberg.
The share price was raised to “purchase” from “hold” by Maybank Securities Pte Ltd. Government policies and persistent demand for equities and derivatives also support revenue outlook, the broker said.
The government’s task force should “publish” some recommendations to boost the city’s state stock markets “quickly,” Singapore Exchange President Michael Singh said in an interview Thursday.
The Singapore Exchange will “become one of the biggest beneficiaries of reform,” said Jarick Set, Maybank Securities Analyst, who covers small and intermediate companies’ equities.
