Stock calls for 21 May 2019

Date	Analyst	Company	Last	Target	Call	Valuation
05/21/19	phillip	China Everbright	0.385	0.5	Buy	PER9x
05/21/19	Amfrasers	CSE Global	0.49	0.58	Buy	Sum of parts, PER12.5x FY19, PB2.1x FY19
05/21/19	Kim Eng	Frasers Centrepoint Trust	2.4	2.6	Buy
05/21/19	phillip	Penguin	0.44	0.61	Buy	PER5x FY19 (ex-cash)
05/21/19	phillip	SATS	5.08	5.47	Accumulate	DCF, PER24x FY19
05/21/19	UOB Kay Hian	SATS	5.08	5.05	Hold
05/21/19	DBS Vickers	SATS	5.08	5.44	Buy	DCF & PER22x FY20
05/21/19	phillip	SHS	0.174	0	Cease coverage
05/21/19	OCBC	SIA	9.3	11.02	Buy
05/21/19	UOB Kay Hian	SIA	9.3	9.6	Hold
05/21/19	DBS Vickers	SIA	9.3	10.8	Buy	PB0.95x FY20
05/21/19	CIMB	UMS	0.62	0.55	Reduce