Singapore Stock Market News

Riverstone Holdings - Positive NDR; liquidity excitement

StockFanatic
Publish date: Mon, 09 Nov 2015, 12:10 PM
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■ Investors impressed with Riverstone's strong earnings beat. Management addressed investors' dual concerns on possible slowdown of cleanroom segment and competition.

■ Remain positive on strong USD/MYR, demand for new capacity and 1-for-1 bonus issue to boost liquidity.

Maintain BUY & raise TP to SGD2.60 from SGD2.36. P/E target increased to 22x from 20x, to reflect higher average P/E target for peers.
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