However, with this counter up 30% year to date, which brings its valuation closer to historical ranges’ upper end and a level of yield deemed "underwhelming", Jaiswal has kept his "neutral" call.
Shekhar Jaiswal of RHB Bank Singapore, positively surprised by the most recent monthly trading data, has raised his target price for Singapore Exchange from $15.90 to $17.80.
"We upgrade our securities daily average value (SDAV) and derivatives daily average volume (DDAV) forecasts and accept Singapore Exchange’s strong operating momentum on small-/mid-cap flows, resilient derivatives demand, and a constructive macro backdrop," says Jaiswal in his Sept 15 note.
