“Overall, strength in the equities business continues to surprise positively,” the pair write in a note on April 1, adding that they expect the SGX’s securities daily average value (SDAV) to grow to $1.9 billion by FY28, up from an estimated $1.5 billion for 1H 2026. The SGX reported on March 12 that its SDAV in February was $2.1 billion.
Bank of America analysts Sukriti Bansal and Aiden Chionh have upgraded the Singapore Exchange (SGX:S68
) to “neutral” from “underperform” and raised their target price to $20.50, a 39% increase from their initial target price of $14.70.
Sukriti and Chionh’s neutral rating is anchored on three factors. Firstly, they forecast FY26’s profit growth to hit 14% y-o-y, up from 11% previously. Secondly, they expect the SGX to benefit from increasingly diversified earnings contributions. Thirdly, they can see sustained visibility on SGX’s dividends.
