Key Indices
Top Stories
Initiate Coverage | EGP Energy Corporation (EGX SP/BUY/S$0.73/Target: S$0.92)
- EGP is Singapore’s leading independent T&D EPC specialist, with over 90 projects, a 30-year track record and a S$296.2m orderbook, equivalent to 7.5x 2025 revenue. We expect the backlog and customer capex to drive an 18% earnings CAGR over 2025-28. Initiate coverage with BUY and a S$0.92 target price, based on 13.8x 2027F PE, with re-rating upside from contract wins and M&S growth.
Market Spotlight
- US stocks were higher on Thursday. All three major indexes rose as information technology, consumer discretionary and utilities sectors gained. There were more advancers than decliners on both the NYSE and the Nasdaq.
- The FSSTI rose 25.11 points to 5,660.52, supported by strength in DBS, Seatrium and Genting Singapore. Midcap indices rose while small-cap indices fell, with a broad market advance on S$1.65b turnover.
Technical Analysis
AEM Holdings (AEM SP)
- Trading Buy Range: S$9.10-9.11
Marco Polo Marine (MPM SP)
- Trading Sell Range: S$0.142-0.143
Top Stories
Initiate Coverage | EGP Energy Corporation (EGX SP/BUY/S$0.73/Target: S$0.92)
- EGP is Singapore’s leading independent T&D EPC specialist, with over 90 projects, a 30-year track record and a S$296.2m orderbook, equivalent to 7.5x 2025 revenue. We expect the backlog and customer capex to drive an 18% earnings CAGR over 2025-28. Initiate coverage with BUY and a S$0.92 target price, based on 13.8x 2027F PE, with re-rating upside from contract wins and M&S growth.
Market Spotlight
- US stocks were higher on Thursday. All three major indexes rose as information technology, consumer discretionary and utilities sectors gained. There were more advancers than decliners on both the NYSE and the Nasdaq.
- The FSSTI rose 25.11 points to 5,660.52, supported by strength in DBS, Seatrium and Genting Singapore. Midcap indices rose while small-cap indices fell, with a broad market advance on S$1.65b turnover.
Technical Analysis
AEM Holdings (AEM SP)
- Trading Buy Range: S$9.10-9.11
Marco Polo Marine (MPM SP)
- Trading Sell Range: S$0.142-0.143
Key Indices
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