Stock calls for 31 July 2019

Date	Analyst	Company	Last	Target	Call	Valuation
07/31/19	UOB Kay Hian	A-Reit	3.03	3.01	Hold	Buy @ $2.78
07/31/19	CIMB	ART	1.3	1.31	Hold	DDM
07/31/19	UOB Kay Hian	ART	1.3	1.54	Buy
07/31/19	DBS Vickers	ART	1.3	1.45	Buy
07/31/19	UOB Kay Hian	BRC Asia	1.37	1.75	Buy	PER11.5x FY20
07/31/19	OCBC	CDL Hospitality	1.66	1.56	Hold
07/31/19	DMG & Partners	CDL Hospitality	1.66	1.79	Buy	DDM
07/31/19	CIMB	CDL Hospitality	1.66	1.92	Add
07/31/19	DBS Vickers	CDL Hospitality	1.66	1.8	Buy	DCF
07/31/19	Macquarie	DBS	26.49	25.8	Neutral	PB
07/31/19	phillip	DBS	26.49	27.6	Accumulate	GGM, PB1.4x
07/31/19	OCBC	Far East Hospitality	0.685	0.67	Hold
07/31/19	CIMB	Far East Hospitality	0.685	0.68	Hold
07/31/19	Kim Eng	IHH Healthcare	1.88	2.16	Buy	Sum of parts, Ringgit $6.50 target price
07/31/19	UOB Kay Hian	Japfa	0.515	0.48	Hold	Sum of parts, Buy @ $0.42
07/31/19	CIMB	Mapletree North Asia	1.42	1.5	Add	DDM
07/31/19	Lim & Tan	Parkway Life	3.06	0	Hold
07/31/19	phillip	Raffles Medical	1.04	1.09	Neutral	DCF
07/31/19	DBS Vickers	Sembcorp Marine	1.36	1.9	Buy	PB1.8x FY19
07/31/19	Amfrasers	Sembcorp Marine	1.36	1.59	Neutral	PB1.6x FY19
07/31/19	DMG & Partners	Sembcorp Marine	1.36	1.8	Buy	PB1.64x FY20
07/31/19	CIMB	Sembcorp Marine	1.36	1.16	Reduce	PB1.1x
07/31/19	UOB Kay Hian	Sembcorp Marine	1.36	1.32	Hold	Buy @ $1.25
07/31/19	Kim Eng	Sheng Siong	1.15	0.96	Sell	DCF
07/31/19	OCBC	Sheng Siong	1.15	1.19	Buy
07/31/19	CIMB	Sheng Siong	1.15	1.25	Add
07/31/19	CIMB	Starhill	0.8	0.79	Hold