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发表于 16-8-2013 14:46:36|来自:新加坡
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Singapore Press Holdings (SPH SP, T39) ? Watch to see if the stock could be supported near its 120 & 250- day moving averages.
Source: Nextview
Singapore Press Holdings (SPH)
In our institutional research report dated 16 Jul 13, we maintained our HOLD recommendation for SPH with an unchanged target price of S$4.25 which is set at a 10% discount to our SOTP valuation of S$4.73/share.
We raise our FY13-15 core net profit forecasts marginally by 4% as 3QFY13 core net profit of S$100.5m was above our forecast of S$90m. 3QFY13 saw a large fair-value gain of S$111.4m, offset by an impairment of S$26.2m. Advertising revenue recovered to a smaller contraction of 5.1% in 3QFY13 vs a 9.3% contraction in 2QFY13
Suggested entry price at $ 4.00 or below.Technically, SPH could be testing S$4.08/3.99 should the stock continue to trend down. Prices have formed lower highs and lower lows at the moment.
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