On this, the analyst has raised his profit estimates for FY2025 – FY2026 by 5% and 3.3% in view of the higher SDAV estimates.
RHB Bank Singapore analyst Shekhar Jaiswal has increased his target price on Singapore Exchange (SGX:S68
) (SGX) to $11.70 from $10.80 after the group’s August securities turnover data came in “well ahead” of his estimates.
On Sept 9, SGX reported that securities daily average traded value (SDAV) grew 28% y-o-y and 19% m-o-m to $1.37 billion being the highest since March 2022. The implied 1HFY2-25 SDAV was much higher than Jaiswal’s estimate and he expects volatility to persist within the securities market for a few months given the US elections and interest rate outlook.
