“[The] SDAV is a key driver of SGX’s stock price,” says DBS analyst Lim Rui Wen, who has a “buy” call and a higher target price of $26.40, up from $22.50 previously.
Analysts from DBS Group Research and RHB Bank Singapore have raised their target prices on Singapore Exchange (SGX) as they see the Equity Market Development Programme (EQDP) continuing to anchor the exchange’s securities daily average value (SDAV).
SGX, on June 10, reported an SDAV of $2.4 billion for the month of May, up 79% y-o-y and the highest since October 2007.
