SG Market: Spore shares may pull back in early trade with investors taking declines in Wall Street overnight as cue to digest recent hefty gains. STI up for 8th straight sessions, +5.4% since beg Nov. Immediate support tipped at 3257, then 3244. Underlying trend appears bullish in near term but the market has had a good run & a pause may be healthy before heading higher. Stocks of companies that just released earnings likely in focus, including SIA, Wilmar, Noble Group, Starhub, ST Engrg.
On the stock ratings front:
*Noble Group upgraded to OP from Neutral at Credit Suisse, TP raised to $2.55 from $1.66; JPMorgan raised TP raised to $2.50 from $2.00
*SIA maintained Buy with TP of $16 at Citigroup; maintained Buy at DB with TP of $19.90; JPMorgan raised TP to $20 from $17
*ST Engrg maintained Buy at DB, TP raised to $3.95 from $3.65; maintained Buy at Citigroup with TP of $3.80
*Biosensors maintained Buy at Nomura, TP raised to $1.50 from $1.20
*F&N initiated as UW with TP of $5.97 at HSBC
*ThaiBev initiated as OW with TP of $0.35 at HSBC
*Mapletree Logistics Trust initiated as Buy with TP of $1.11 at RBS
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