SGX: What will drive a rerating?
- UBS believes SGX provides a good long term story, backed by its monopoly in Singapore.
- However, the house remains sceptical about the prospect of meaningfully higher velocity at SGX in the near future.
- Whether derivatives could provide a re-rating remains elusive.
- UBS has upgraded its rating for SGX to Neutral from Sell, with TP of $7.30.
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