Brokers' Take

Weakness in SPH shares not justified, says OCBC

THE recent weakness in the share price of publishing group Singapore Press Holdings (SPH) is 'unjustified' after the counter, along with other blue chips, succumbed to the negative market sentiment of late, OCBC Investment Research said.

'The decline appears to be out of step with the favourable operating environment given the recent strong third-quarter macro data and SPH's cyclical nature,' OCBC said.

It also gave the thumbs up to SPH's efforts to keep costs under control. It upgraded its call on the stock to 'buy' from 'hold'.

OCBC Investment Research, Nov 2
Rating: BUY