Analysts downgrade some STI stocks

THE recently-concluded earnings season has not been too kind to a number of Straits Times Index (STI) component stocks. Eight stocks out of these 30 largest and most liquid stocks on the Singapore Exchange were hit by at least two analyst downgrades each.

They are ComfortDelGro, Genting Singapore, Golden Agri-Resources, Hutchison Port Holdings Trust, SIA Engineering, StarHub, ST Engineering, and UOB Bank.

The downgrades came because of different reasons: poor earnings, slower than expected revenue growth, or a run-up in stock price.