STOCKS NEWS SINGAPORE-Citi raises Tat Hong to buy

Newswire

Citigroup upgraded Tat Hong Holdings Ltd to "buy" from "sell" and raised its target price to S$1.40 from S$0.64, citing a recovery in equipment sales and rising utilisation levels for the firm's crawler crane division across the region. By 1043 (0243 GMT), Tat Hong shares were up 0.5 percent at S$1.03, slightly outperforming the FT ST Small Cap Index which was 0.1 percent higher. The stock has gained 16.5 percent so far this year. Tat Hong's fourth-quarter net profit nearly tripled to ...

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