Brokers' Choice
MERRILL LYNCH BULLISH ON SPH'S AD MARKET
17 April 2006
The Straits Times MERRILL Lynch believes that Singapore Press Holdings (SPH) will benefit from a boost in the advertisement market in the coming months, as consumer spending improves. 'Consistent with our ad page count, SPH had registered robust 9.5 per cent growth in classified ads,' it says, reviewing the media group's second-quarter results. 'With economic indicators all pointing in the right direction...we expect SPH's ad growth to accelerate,' it adds. Merrill is keeping its 'buy' call on SPH, with a price target of $4.90. MERRILL LYNCH, April 13
Rating: BUY |
