PhillipCapital removes Boustead Singapore (F9D.SG) and SIA Engineering
(S59.SG) from its top picks list for Singapore and replaces them with Singapore Exchange (S68.SG) and Keppel Corp. (BN4.SG).
The house likes Singapore Exchange for three reasons: higher securities revenue; continued derivatives revenue growth; an expected increase in free cash flow and dividend yields. It has an Accumulate rating and $8.00 target on the stock.
The house believes that Keppel Corp. "will continue to benefit from the robust O&M outlook, which is well-supported by high dayrates and utilizations for both jack-up and semi-sub rigs." Keppel's 4%-5% dividend yield should also not be ignored, it says. It has an Accumulate rating and $12.34 target on the stock.
Boustead is flat at $1.32, SIA Engineering gains 0.8% to $4.93, Singapore Exchange is up 1.1% at $7.34 and Keppel Corp. is 1% higher at $10.68.
Singapore's STI is trading at 3,215.39, up 1.1% from Monday's close after a bullish cue from Wall Street. Singapore Technologies Engineering (S63.SG) is pacing gains, up 2.8% at $3.99 after it announced its unit ST Aerospace has signed a deal with UTC Aerospace systems for long-term repair and maintenance of Boeing 787 Dreamliner components.
The house likes Singapore Exchange for three reasons: higher securities revenue; continued derivatives revenue growth; an expected increase in free cash flow and dividend yields. It has an Accumulate rating and $8.00 target on the stock.
The house believes that Keppel Corp. "will continue to benefit from the robust O&M outlook, which is well-supported by high dayrates and utilizations for both jack-up and semi-sub rigs." Keppel's 4%-5% dividend yield should also not be ignored, it says. It has an Accumulate rating and $12.34 target on the stock.
Boustead is flat at $1.32, SIA Engineering gains 0.8% to $4.93, Singapore Exchange is up 1.1% at $7.34 and Keppel Corp. is 1% higher at $10.68.
Singapore's STI is trading at 3,215.39, up 1.1% from Monday's close after a bullish cue from Wall Street. Singapore Technologies Engineering (S63.SG) is pacing gains, up 2.8% at $3.99 after it announced its unit ST Aerospace has signed a deal with UTC Aerospace systems for long-term repair and maintenance of Boeing 787 Dreamliner components.
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