Singapore Exchange Data Update for April Volumes

Goldman Sachs raised its EPS estimates for Singapore Exchange (SGX) by 2-3% for FY26-28 and its target price to S$18.0 based on April trading volumes. The firm maintains a Neutral rating, citing a 16.6% downside from the current price of S$21.58.

Key Takeaways

• 1.Goldman Sachs has raised EPS estimates for SGX by 2-3% for FY26-FY28 based on April volume data and May month-to-date trading levels.
• 2.The 12-month target price for Singapore Exchange has been increased to S$18.0 from S$17.4.
• 3.The stock rating remains Neutral as the fundamental investment thesis and rating logic are unchanged despite the estimate revisions.

Table of Contents

• Price Target Risks and Methodology - Singapore Exchange
• Disclosure Appendix
• Reg AC
• GS Factor Profile
• M&A Rank
• Quantum
• Disclosures
• Company-specific regulatory disclosures
• Distribution of ratings/investment banking relationships
• Price target and rating history chart(s)
• Target price history table(s)
• Regulatory disclosures
• Additional disclosures required under the laws and regulations of jurisdictions other than the United States
• Ratings, coverage universe and related definitions
• Global product; distributing entities
• General disclosures

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