ST Engineering - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/05/18	DBS Vickers	ST Engineering	3.3	3.7	Hold
01/18/18	CIMB	ST Engineering	3.31	3.85	Add	DCF & PER22x CY19
01/22/18	Lim & Tan	ST Engineering	3.32	0	Buy
02/07/18	OCBC	ST Engineering	3.23	4	Buy
02/07/18	CIMB	ST Engineering	3.23	3.85	Add
02/20/18	DMG & Partners	ST Engineering	3.35	4.2	Buy
02/26/18	CIMB	ST Engineering	3.39	3.8	Add	DCF, PER & Div yield
02/26/18	UOB Kay Hian	ST Engineering	3.39	3.6	Hold	DCF, Buy @ $3.20
02/26/18	DBS Vickers	ST Engineering	3.39	3.9	Buy
02/26/18	Lim & Tan	ST Engineering	3.39	0	Buy
02/27/18	DMG & Partners	ST Engineering	3.44	4.04	Buy	PER23x & PB5.5x & EV/Ebitda16x & DCF
03/02/18	Lim & Tan	ST Engineering	3.38	0	Buy
03/05/18	CIMB	ST Engineering	3.36	3.8	Add	DCF & PER & Div Yield
03/09/18	UOB Kay Hian	ST Engineering	3.38	3.6	Hold
03/12/18	Kim Eng	ST Engineering	3.38	4.15	Buy	DCF
03/13/18	Amfrasers	ST Engineering	3.43	3.88	Buy
03/13/18	Credit Suisse	ST Engineering	3.43	4	Outperform	DCF
03/23/18	UOB Kay Hian	ST Engineering	3.47	4.1	Buy	EV/Invested capital basis, PER23x FY19
03/23/18	DBS Vickers	ST Engineering	3.47	4.1	Buy	DCF & PER22x
04/12/18	Lim & Tan	ST Engineering	3.65	0	Buy
04/16/18	DMG & Partners	ST Engineering	3.67	4.04	Buy
04/23/18	Macquarie	ST Engineering	3.65	3.9	Outperform
05/11/18	Lim & Tan	ST Engineering	3.46	0	Buy
05/14/18	CIMB	ST Engineering	3.39	3.8	Add	DCF & PER20x CY19
05/14/18	DBS Vickers	ST Engineering	3.39	4.1	Buy
05/14/18	DMG & Partners	ST Engineering	3.39	4.04	Buy	PER23x & PB5.5x & EV/Ebitda16x & DCF
05/23/18	UOB Kay Hian	ST Engineering	3.47	4.1	Buy
06/04/18	UOB Kay Hian	ST Engineering	3.45	4.1	Buy
06/28/18	DBS Vickers	ST Engineering	3.29	4.1	Buy
07/03/18	UOB Kay Hian	ST Engineering	3.27	4.1	Buy
07/05/18	OCBC	ST Engineering	3.25	3.9	Buy
08/03/18	UOB Kay Hian	ST Engineering	3.36	4.1	Buy	EV/Invested capital basis, PER22x FY18
08/10/18	Kim Eng	ST Engineering	3.45	4.15	Buy	DCF
08/10/18	CIMB	ST Engineering	3.45	3.8	Add	Sum of parts
08/10/18	OCBC	ST Engineering	3.45	3.9	Buy	FCFE
08/10/18	DBS Vickers	ST Engineering	3.45	4.1	Buy
08/10/18	DMG & Partners	ST Engineering	3.45	3.97	Buy
09/03/18	CIMB	ST Engineering	3.34	3.8	Add	PER20x CY19 & DCF & 4% Div Yield
09/06/18	DMG & Partners	ST Engineering	3.26	3.97	Buy
09/10/18	UOB Kay Hian	ST Engineering	3.32	3.8	Buy	EV/Invested capital basis
09/14/18	DBS Vickers	ST Engineering	3.29	4.3	Buy
09/14/18	OCBC	ST Engineering	3.29	3.95	Buy
09/17/18	Kim Eng	ST Engineering	3.53	4.35	Buy	DCF
10/01/18	UOB Kay Hian	ST Engineering	3.56	4.06	Buy	EV/Invested capital & PER20.9x FY18
10/08/18	CIMB	ST Engineering	3.53	3.8	Add
11/02/18	UOB Kay Hian	ST Engineering	3.54	4.06	Buy	EV/Invested capital & PER20.9x FY19
11/05/18	DBS Vickers	ST Engineering	3.52	4.3	Buy
11/13/18	DMG & Partners	ST Engineering	3.5	3.97	Buy
11/15/18	DBS Vickers	ST Engineering	3.5	4.15	Buy	Sum of parts
11/15/18	Kim Eng	ST Engineering	3.5	4.35	Buy	DCF
11/15/18	CIMB	ST Engineering	3.5	3.94	Add	Sum of parts
11/29/18	OCBC	ST Engineering	3.5	3.95	Buy
12/10/18	UOB Kay Hian	ST Engineering	3.47	4.06	Buy
12/14/18	DMG & Partners	ST Engineering	3.47	3.97	Buy
01/02/19	DMG & Partners	ST Engineering	3.51	3.97	Buy
01/23/19	CIMB	ST Engineering	3.66	3.94	Add
01/31/19	UOB Kay Hian	ST Engineering	3.66	4.06	Buy
02/08/19	DBS Vickers	ST Engineering	3.75	4.15	Buy	Sum of parts
02/21/19	Lim & Tan	ST Engineering	3.77	0	Hold
02/22/19	OCBC	ST Engineering	3.71	4.01	Buy	FCFE
02/22/19	DMG & Partners	ST Engineering	3.71	4.1	Buy
02/22/19	UOB Kay Hian	ST Engineering	3.71	4.06	Buy
02/22/19	Kim Eng	ST Engineering	3.71	4.25	Buy	DCF
03/13/19	DMG & Partners	ST Engineering	3.74	4.1	Buy
03/26/19	CIMB	ST Engineering	3.75	4.08	Add
03/28/19	UOB Kay Hian	ST Engineering	3.75	4.06	Buy
03/28/19	Lim & Tan	ST Engineering	3.75	0	Hold
03/29/19	UOB Kay Hian	ST Engineering	3.73	4.4	Buy	EV/Invested capital basis
03/29/19	OCBC	ST Engineering	3.73	4.07	Buy
03/29/19	DBS Vickers	ST Engineering	3.73	4.15	Buy