SPH downgraded

Singapore Press Holdings (SPH), which publishes The Business Times, slid 1.9 per cent to $4.08, after Citigroup analyst Jason Brueschke downgraded his rating on the stock to 'hold' from 'buy' in a research note. He also lowered his target price to $4.50 from $5.30, citing a likely increase in newsprint costs and a slowing economy that could hurt SPH's advertising revenue and investment income.