This translates to what Lee calls a “remarkable underperformance” of 47.3% versus the Straits Times Index’s (STI) appreciation of 13% over the same period.
SINGAPORE (Sept 21): OCBC Investment Research is upgrading its call on Singapore Press Holdings (SPH) to “buy” from “hold” previously on valuation grounds, with an unchanged fair value estimate of $3.25.
In a Thursday report, analyst Eli Lee notes that the counter has fallen 15.4% to its last closing price of $2.63 on Wednesday since the release of its 3Q17 results, cumulating in a 34.3% decline since July 15.
