Top Stories
Company Update | Riverstone Holdings (RSTON SP/BUY/S$0.86/Target: S$1.10)
Management provided updates on demand, ASP normalisation, raw material trends and capital allocation. Better ASPs and an above-100% payout ratio should support earnings and shareholder returns. Maintain BUY with an unchanged target price of S$1.10, pegged to 25x 2027F PE. Riverstone currently trades at 19x 2027F PE vs peers' average of 22x, offering re-rating potential.
Market Spotlight
- US stocks were higher on Tuesday, with all indices rising as the information technology, energy and healthcare sectors rose with more advancers than decliners on both the NYSE and NASDAQ.
- The FSSTI rose 27.77 points to 5,526.72, supported by strength in Singtel, Seatrium and DBS, with both mid- and small-cap indices rising with a broad market advance on a S$2.11b turnover.
Technical Analysis
Riverstone Holdings | RSTON SP
Trading Buy Range: S$0.855-0.860
SIA Engineering | SIE SP
Trading Buy Range: S$3.28-3.29
Top Stories
Company Update | Riverstone Holdings (RSTON SP/BUY/S$0.86/Target: S$1.10)
Management provided updates on demand, ASP normalisation, raw material trends and capital allocation. Better ASPs and an above-100% payout ratio should support earnings and shareholder returns. Maintain BUY with an unchanged target price of S$1.10, pegged to 25x 2027F PE. Riverstone currently trades at 19x 2027F PE vs peers' average of 22x, offering re-rating potential.
Market Spotlight
- US stocks were higher on Tuesday, with all indices rising as the information technology, energy and healthcare sectors rose with more advancers than decliners on both the NYSE and NASDAQ.
- The FSSTI rose 27.77 points to 5,526.72, supported by strength in Singtel, Seatrium and DBS, with both mid- and small-cap indices rising with a broad market advance on a S$2.11b turnover.
Technical Analysis
Riverstone Holdings | RSTON SP
Trading Buy Range: S$0.855-0.860
SIA Engineering | SIE SP
Trading Buy Range: S$3.28-3.29
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