OUTPERFORM: Macquarie Research - Jun 13, 2005 (ST)
BackJun 13, 2005
MACQUARIE Research has given its thumbs-up to Singapore Press Holdings (SPH) on the back of a surge in local advertising spending. It said the publisher stands to benefit from the increased credit-card ad campaigns by local banks. Advertising dollar from property developers and telecommunications companies 'should help deliver or exceed our full-year forecast newspaper ad growth for SPH of 3.5 per cent', Macquarie said in its report. It maintains its 'outperform' recommendation for SPH with a target price of $5.20. -- MACQUARIE RESEARCH, June 8Brokers' Take
OUTPERFORM: Macquarie Research
Jun 13, 2005
The Straits Times
Rating: OUTPERFORM