OCBC says it had expected that SGX would be a beneficiary of "heavier-than-average trading volume", coupled with a pullback in its share price then given "broad equity market weakness from the tariff situation".
OCBC Investment Research has downgraded Singapore Exchange (SGX:S68
) (SGX) to "hold", citing limited upside, but with a higher target price of $14.78 from $14.09 as higher trading activity will "directly benefit" the bourse operator.
In an April 28 note, OCBC's analysts say SGX's share price has "rebounded strongly" since the house upgraded the stock to "buy" on April 10. SGX shares rose more than 8% over April, and some 18.5% from April 10.
