Stock calls for 11 November 2019

Date	Analyst	Company	Last	Target	Call	Valuation
11/11/19	UOB Kay Hian	A-Reit	2.89	3.25	Buy
11/11/19	DMG & Partners	DBS	26.61	25.3	Neutral	GGM, PB1.23x FY20
11/11/19	Lim & Tan	DBS	26.61	0	Buy on weakness
11/11/19	DMG & Partners	Frencken	0.76	0.82	Buy	DCF
11/11/19	CIMB	HRnetGroup	0.64	0.83	Add
11/11/19	DMG & Partners	HRnetGroup	0.64	0.81	Buy	DCF
11/11/19	Amfrasers	Japan Foods	0.425	0.46	Neutral
11/11/19	phillip	Penguin	0.7	0.93	Buy	PER5x FY20 (ex-cash)
11/11/19	CIMB	Riverstone	0.985	1.25	Add
11/11/19	DBS Vickers	Riverstone	0.985	1.16	Buy	PER14.5x FY20
11/11/19	UOB Kay Hian	Singtel	3.35	3.32	Hold	Buy @ $3
11/11/19	DMG & Partners	ST Engineering	4.12	4.7	Buy	Sum of parts
11/11/19	Phillip	Venture	16.6	17.18	Accumulate	PER14x FY19
11/11/19	Kim Eng	Venture	16.6	16.91	Hold	PB1.8x FY20
11/11/19	DMG & Partners	Venture	16.6	16.3	Neutral	PER13x FY19
11/11/19	CIMB	Venture	16.6	16.88	Hold	PER12.5x
11/11/19	UOB Kay Hian	Venture	16.6	16.67	Hold	PER14x FY20
11/11/19	DBS Vickers	Venture	16.6	17.2	Hold	PER13.7x FY20
11/11/19	Lim & Tan	Venture	16.6	0	Sell