In a Wednesday report, analyst Ngoh Yi Sin opines that SGX is one of the few beneficiaries of market volatility, and appears to be a defensive play amid macro concerns. With a 3.5% dividend yield to its name, the bourse is now CGS-CIMB’s top pick in the financial sector.
SINGAPORE (Mar 5): At a time when several stocks have been downgraded by brokerages, Singapore Exchange (SGX) is still standing strong, and is poised for a good run ahead.
CGS-CIMB has upgraded the stock to an “add” from the previous “hold” recommendation with an unchanged target price of $9.40, representing an upside of 8.0%.
