SIA - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/03/18	UOB Kay Hian	SIA	10.67	11.9	Buy	PB0.9x FY18
01/03/18	OCBC	SIA	10.67	10.5	Hold
01/31/18	DBS Vickers	SIA	11.31	10.55	Hold
02/09/18	Kim Eng	SIA	10.86	10.95	Hold	PB0.93x FY18
02/14/18	CIMB	SIA	10.62	12.05	Add	PB1x CY18
02/14/18	UOB Kay Hian	SIA	10.62	11.9	Buy	PB0.9x FY18
02/14/18	DBS Vickers	SIA	10.62	12	Buy	PB1x FY19
02/15/18	OCBC	SIA	11.15	10.85	Hold	PB0.9x FY18
02/15/18	Credit Suisse	SIA	11.15	10.7	Neutral
03/09/18	UOB Kay Hian	SIA	11.01	11.9	Buy
03/15/18	Lim & Tan	SIA	11.2	0	Neutral
05/07/18	UOB Kay Hian	SIA	11.03	11.9	Buy	PB0.9x FY18
05/18/18	Lim & Tan	SIA	11.14	0	Hold
05/18/18	CIMB	SIA	11.14	11.75	Add	PB1.05x
05/21/18	UOB Kay Hian	SIA	11.56	12.6	Buy	Sum of parts, PB1x FY19
05/21/18	OCBC	SIA	11.56	11.3	Hold
05/21/18	DBS Vickers	SIA	11.56	13.7	Buy	PB1.2x FY19
06/05/18	DBS Vickers	SIA	11.48	13.7	Buy
06/11/18	UOB Kay Hian	SIA	11.43	12.6	Buy
06/19/18	UOB Kay Hian	SIA	11.2	11.9	Hold	PB0.95x, Buy @ $10.9
06/21/18	OCBC	SIA	11.01	11.3	Hold
07/03/18	UOB Kay Hian	SIA	10.42	11.9	Hold	PB0.9x, Buy @ $10.50-10.60
07/27/18	Lim & Tan	SIA	10.8	0	Hold
07/27/18	OCBC	SIA	10.8	11.01	Hold
07/27/18	Kim Eng	SIA	10.8	9.65	Sell	PB0.82x FY18
07/30/18	CIMB	SIA	10.22	11.75	Add	PB1.05x CY18
07/30/18	DBS Vickers	SIA	10.22	12.4	Buy	PB1.1x FY19
07/31/18	UOB Kay Hian	SIA	10.1	11.1	Hold	PB0.8x, Buy @ $9.80
09/10/18	UOB Kay Hian	SIA	9.62	11.1	Hold
09/18/18	UOB Kay Hian	SIA	9.57	10.4	Hold	PB0.75x, Buy @ $9.10
10/16/18	Macquarie	SIA	9.2	11.7	Outperform	EV/Ebitda7x FY19, Cut from $12.50
10/17/18	OCBC	SIA	9.15	10.71	Buy	PB0.9x
11/09/18	Kim Eng	SIA	9.65	9.8	Hold	PB0.82x FY20
11/12/18	CIMB	SIA	9.52	10.1	Hold	PB0.9x CY19
11/14/18	UOB Kay Hian	SIA	9.42	10.4	Hold	PB0.75x FY19, Buy @ $9.20-9.30
11/14/18	DBS Vickers	SIA	9.42	10.2	Hold	PB0.85x FY19
11/15/18	OCBC	SIA	9.41	10.71	Buy	PB0.85x FY19
11/15/18	Lim & Tan	SIA	9.41	0	Hold
11/30/18	UOB Kay Hian	SIA	9.65	10.2	Hold
01/17/19	UOB Kay Hian	SIA	9.76	10.2	Hold	Sum of parts, Buy @ $9
01/24/19	Kim Eng	SIA	9.5	11.2	Buy	PB0.94x
01/24/19	CIMB	SIA	9.5	10.25	Hold	PB0.9x CY19
02/15/19	CIMB	SIA	9.87	10.25	Hold	PB0.9x CY19
02/15/19	DBS Vickers	SIA	9.87	11	Buy	PB0.9x FY20
02/15/19	Lim & Tan	SIA	9.87	0	Hold
02/18/19	Kim Eng	SIA	9.76	11.2	Buy	PB0.94x
02/18/19	UOB Kay Hian	SIA	9.76	10.2	Hold	Buy @ $9.50
02/18/19	OCBC	SIA	9.76	10.71	Buy
03/19/19	CIMB	SIA	9.83	10.25	Hold
03/19/19	UOB Kay Hian	SIA	9.83	10.1	Hold	Buy @ $9