You are here

Broker's take: UOB Kay Hian issues 'trading buy' call on SPH based on technical analysis

UOB Kay Hian on Friday issued a "trading buy" call on Singapore Press Holdings (SPH), along with a target price of S$1.76, according to its technical analysis of the counter.

SPH publishes The Business Times.  

The brokerage has a S$1.52 target price on the media and property group, based on its fundamentals. 

As at 11.40am on Friday, SPH shares were trading at S$1.50, down S$0.06 or 3.9 per cent. 

UOB Kay Hian analyst Wong Shueh Ting said the stock "could have found bottom at S$1.38", and may turn around if it penetrates above S$1.61. 

The brokerage suggested that investors could buy into SPH if the counter hits its entry price range of S$1.62 to S$1.63 within the next three trading days.

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes