Shekhar Jaiswal of RHB Bank Singapore has raised his target price for the Singapore ExchangeGroup from $13.60 to $14.10, citing trading data which implied that turnover and volumes were ahead of his estimates.

"We maintain that Singapore Exchange will continue to benefit from expected elevated near term market volatility," says Jaiswal in his May 21 note.

"The securities' daily average traded value (SDAV) could continue to rise in FY26–27, aided by the Monetary Authority of Singapore’s measures to boost the equity market," he adds.