Stock calls for 25 February 2020

Date	Analyst	Company	Last	Target	Call	Valuation
02/25/20	DMG & Partners	APAC Realty	0.47	0.6	Buy	DCF
02/25/20	DBS Vickers	APAC Realty	0.47	0.52	Hold	PER12x FY20
02/25/20	CIMB	APAC Realty	0.47	0.61	Add
02/25/20	DBS Vickers	Breadtalk	0.645	0.49	Accept offer	offer @ $0.77, Sum of parts
02/25/20	Lim & Tan	Breadtalk	0.645	0	Accept offer	offer @ $0.77
02/25/20	Macquarie	Capitaland	3.67	4.15	Outperform
02/25/20	OCBC	ESR-Reit	0.545	0.6	Buy
02/25/20	DBS Vickers	Keppel DC Reit	2.5	2.55	Hold	DCF
02/25/20	Kim Eng	OCBC	10.92	11.57	Hold
02/25/20	DMG & Partners	Raffles Medical	1.02	0.96	Neutral	DCF
02/25/20	UOB Kay Hian	Raffles Medical	1.02	1.21	Buy	DCF
02/25/20	DBS Vickers	Raffles Medical	1.02	1.1	Hold	Sum of parts
02/25/20	Kim Eng	Raffles Medical	1.02	1.06	Hold	DCF
02/25/20	CIMB	Raffles Medical	1.02	1.16	Add
02/25/20	OCBC	Sheng Siong	1.29	1.45	Buy
02/25/20	DMG & Partners	Singapore Medical	0.32	0.35	Neutral	PER11.3x FY20
02/25/20	DMG & Partners	ST Engineering	4.2	4.9	Buy	Sum of parts
02/25/20	UOB Kay Hian	ST Engineering	4.2	4.46	Buy
02/25/20	DBS Vickers	ST Engineering	4.2	4.6	Buy
02/25/20	CIMB	ST Engineering	4.2	4.66	Add
02/25/20	OCBC	Suntec Reit	1.8	2.05	Buy
02/25/20	OCBC	Wilmar	4.05	4.64	Buy
02/25/20	Kim Eng	Wilmar	4.05	4.37	Hold