DBS Vickers upgrades Sound Global (E6E.SG) to Buy from Hold, lifts target price to $0.96 from $0.84, based on 13.2x FY11 P/E, after increasing FY11 earnings forecast by 26%, says Dow Jones.
"We believe downside is limited in view of the various positive developments in the past month," says DBS Vickers.
Daiwa has downgraded K-REIT Asia (K71U.SG) to “sell” from “underperform” saying recent share price performance looks unjustified, reported Dow Jones Newswires.
Says current market value of office REIT is assuming valuations for office assets that look too high, given Singapore office market volatility, large new supply of office space coming on stream.
