When exploring a new sector or market, two critical factors – analysts’ ratings and share price forecasts, guide investors in a safe way. In this article, we have picked Civmec Ltd. (SG:P9D) and Singapore Exchange Ltd. (SG:S68), which are listed on the SGX and have garnered positive assessments from analysts.
Analysts have assigned a Moderate Buy rating to both companies. Civmec shares are anticipated to have a potential upside of 50%, whereas the growth outlook for Singapore Exchange is more modest, projected at just 6%.
Let’s take a look at the details.
Civmec Price Target
Civmec is a versatile engineering and construction company that serves a wide range of sectors, including energy, defense, marine, infrastructure, and more.
Analysts remain positive about the company considering its diversified stream of revenues spread across the public and private sectors. Additionally, the company’s strong order book of A$1.2 billion as of March 31, 2023, supports the project turnover for the future. The company posted a jump of 20% in its net profit to S$13.09 million in its earnings for Q3 2023, reported in May.
10 days ago, UOB Kay Hian analyst John Cheong reiterated his Buy rating on the stock, predicting more than 65% in the share price.
On TipRanks, P9D stock carries a Moderate Buy rating based on two Buy recommendations. The average price prediction is S$1.12, which shows a huge upside of 50% from the current price.
Singapore Exchange Share Price Forecast
Singapore Exchange is Asia’s leading platform company for securities, derivatives, currency, commodities, and fixed-income products, according to the country’s regulations.
In its first-half earnings of 2023, the company’s revenue was up by 10% to S$571 million. The net profit also increased by 30% to S$285 million, as compared to the same period last year. Analysts were happy to see an impressive set of earnings. They are also bullish on the stock as the diversified platform of the company, catering to multiple asset classes, is poised to attract a greater number of customers and generate increased revenues for the company.
Just six days ago, Glenn Thum of Phillip Securities reaffirmed his Buy rating on the stock, projecting a 20% growth in the share price. On TipRanks, S68 stock has a Moderate Buy rating based on two Hold and one Buy recommendations.
Even though analysts remain moderately bullish on the stock, they don’t expect any significant growth in the share price. The average price forecast of S$10.32 predicts a change of 6% in the share price.
Conclusion
S68 has a Moderate Buy rating from analysts with minimal upside potential. While Civmec has an upside potential of around 50% in its share price along with a Moderate Buy rating.
