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Posted on September 16, 2024 at 7:45 am (GMT+8)
The Singapore Exchange (SGX) has shown strong results driven by a robust performance across its cash equities, forex, and commodities divisions. Its diversified revenue streams helped weather some of the volatility in global markets, and SGX is positioned for growth.
SGX is focused on expanding its footprint, especially in its derivatives and FX markets. SGX is exploring opportunities for new product offerings in ESG (environmental, social, and governance) investing, with an increasing focus on green bonds and sustainability-related derivatives.
Rating: HOLD Target Price: S$11.62 Upside Potential: 3.5%
Brokers’ Commentary: SGX’s stock is priced close to its target, and given the current valuation, it is a stable hold for investors. The stock’s dividend yield remains attractive, but analysts expect limited upside as current price levels reflect the positive performance from various business segments. Given the current strong fundamentals, SGX is viewed as a defensive stock in volatile markets.
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