Key Indices
Top Stories
Company Update | Riverstone Holdings (RSTON SP/BUY/S$0.775/Target: S$1.21)
- A stronger US dollar against the ringgit and improving pricing power should provide an earnings tailwind. The cleanroom glove segment, which contributes around 70% of earnings should remain robust, helped by ongoing orders from AI-related data centre and memory storage customers. Maintain BUY and target price of S$1.21. Riverstone currently trades at around 15% discount to peers and offers an attractive 7% 2026 yield.
Market Spotlight
- US stocks were mixed on Thursday. Dow Jones rose while S&P 500 and Nasdaq fell as information technology, consumer discretionary and healthcare sectors slid. There were more advancers than decliners on the NYSE.
- The FSSTI slumped 195.48 points to 5,412.96, on the back of weakness in DBS and OCBC Bank. Both mid- and small-cap indices fell, with a broad market decline on S$4.20b turnover.
Technical Analysis
Frencken Group (FRKN SP)
- Trading Sell Range: S$2.56-2.57
Frasers Centrepoint Trust (FCT SP)
- Trading Sell Range: S$2.09-2.10
Top Stories
Company Update | Riverstone Holdings (RSTON SP/BUY/S$0.775/Target: S$1.21)
- A stronger US dollar against the ringgit and improving pricing power should provide an earnings tailwind. The cleanroom glove segment, which contributes around 70% of earnings should remain robust, helped by ongoing orders from AI-related data centre and memory storage customers. Maintain BUY and target price of S$1.21. Riverstone currently trades at around 15% discount to peers and offers an attractive 7% 2026 yield.
Market Spotlight
- US stocks were mixed on Thursday. Dow Jones rose while S&P 500 and Nasdaq fell as information technology, consumer discretionary and healthcare sectors slid. There were more advancers than decliners on the NYSE.
- The FSSTI slumped 195.48 points to 5,412.96, on the back of weakness in DBS and OCBC Bank. Both mid- and small-cap indices fell, with a broad market decline on S$4.20b turnover.
Technical Analysis
Frencken Group (FRKN SP)
- Trading Sell Range: S$2.56-2.57
Frasers Centrepoint Trust (FCT SP)
- Trading Sell Range: S$2.09-2.10
Key Indices
IMPORTANT NOTICE - DISCLOSURES AND DISCLAIMERS
This report is provided subject to, and must be read together with, the full Disclosures / Disclaimers available at this link, which are incorporated by reference into this report. In particular, this report is intended for general circulation and informational purposes only and does not constitute personal investment advice or a recommendation to buy or sell any investment product or security. You should independently evaluate the information and, where necessary, seek advice from a qualified financial adviser regarding the suitability of any investment. Analyst certifications required under applicable regulations, including SEC Regulation AC (where relevant), are included in this report. By accessing, receiving or using this report, you acknowledge that you have read, understood and agreed to be bound by the Disclosures / Disclaimers, as may be amended, supplemented or updated from time to time.
