In a Friday report, analyst Leng Seng Choons says, “We lowered our FY19 SADV to $1.04 billion from $1.07 billion, which is slightly above the 9M19 SADV of $0.99 billion. Our FY20 SADV assumption has been lowered to $1.12 billion from $1.29 billion – we expect global stabilisation to drive FY20F SADV higher y-o-y.”
SINGAPORE (Apr 8): RHB Securities continues to rate Singapore Exchange (SGX) a “buy”, albeit with a lower target price of $8.10 from $8.20 previously.
In 3Q19, SGX’s securities average daily value (SADV) declined 31% y-o-y to about $0.97 billion.
