Brokers' take

SINGAPORE EXCHANGE | BUY April 23 close: S$7.70 Fair value: S$8.22 OCBC Investment Research, April 23

Singapore Exchange (SGX) posted strong third-quarter net earnings of S$100.5 million, up 21 per cent year on year and 13.7 per cent quarter on quarter, and above the street and our expectations.

We have raised our earnings for FY2018 to account for the stronger third quarter, and this brings our full year earnings projection from S$364.1 million to S$371.9 million. Our fair value estimate moves up slightly, from S$8.16 to S$8.22.