Monday, December 7, 2009

SPH gets a ‘buy’ from UOB KayHian, with $4.40 price target

 
 

Sent to you by MarcG via Google Reader:

 
 

via The Edge Singapore RSS Feed by The Edge on 12/3/09

Singapore Press Holdings (T39.SG) is gaining from faster-than-expected recovery in advertising spending, says UOB KayHian, which is maintaining its "buy" call on the property and media company with a $4.40 target price.

"Ad spend growth has finally turned positive," says the brokerage house. Based on the page count of its Saturday papers, growth of advertising spending is estimated to have improved from –16% in September and –7% in October to positive growth of 9% in November.

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