SATS - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
05/04/20	UOB Kay Hian	SATS	3.28	3.3	Hold	Buy @ $2.80-2.90
05/06/20	DBS Vickers	SATS	2.98	2.64	Fully Valued	DCF & PER25x FY22
06/01/20	DBS Vickers	SATS	2.66	2.64	Hold	DCF & PER25x
07/13/20	phillip	SATS	2.88	1.95	Sell	PB1.35x
07/13/20	UOB Kay Hian	SATS	2.88	2.93	Hold	EV/Invested capital basis
07/13/20	Lim & Tan	SATS	2.88	0	Avoid
07/14/20	DBS Vickers	SATS	2.78	2.83	Hold	DCF & PER25x FY22
07/14/20	OCBC	SATS	2.78	2.76	Hold
07/14/20	CIMB	SATS	2.78	2.8	Reduce
08/25/20	CIMB	SATS	3.08	3	Hold	PB2.1x FY21
08/25/20	phillip	SATS	3.08	1.95	Sell	PB1.35x
08/25/20	UOB Kay Hian	SATS	3.08	2.67	Sell
08/25/20	Lim & Tan	SATS	3.08	0	Avoid
09/04/20	CIMB	SATS	3.01	3	Hold	DCF & PB2.1x FY21
09/04/20	OCBC	SATS	3.01	2.93	Hold
09/08/20	DBS Vickers	SATS	2.98	3.15	Hold	DCF, PER25x FY22
09/11/20	UOB Kay Hian	SATS	2.91	3.1	Hold	Buy @ $2.75
10/01/20	DBS Vickers	SATS	2.83	3.66	Buy	DCF & PER25x FY22
10/08/20	UOB Kay Hian	SATS	3.11	3.4	Buy
10/28/20	CIMB	SATS	3.14	3	Hold
11/03/20	DBS Vickers	SATS	3.07	3.66	Buy
11/13/20	UOB Kay Hian	SATS	3.6	3.62	Hold	Buy @ $3.30
11/16/20	OCBC	SATS	3.8	4.31	Buy
11/16/20	CIMB	SATS	3.8	3.27	Hold
11/16/20	DBS Vickers	SATS	3.8	4.02	Buy	DCF & PER25x FY22
11/17/20	DBS Vickers	SATS	3.99	4.5	Buy	DCF & PER25x FY22
11/19/20	phillip	SATS	4.1	4.4	Neutral	PB3.3x
01/04/21	DBS Vickers	SATS	3.98	4.5	Buy
02/02/21	CIMB	SATS	3.85	4.3	Add	DCF
02/02/21	DBS Vickers	SATS	3.85	4.5	Buy
02/11/21	UOB Kay Hian	SATS	4.09	3.96	Hold	DCF
02/15/21	OCBC	SATS	4.12	4.95	Buy
03/19/21	UOB Kay Hian	SATS	4.56	4.27	Hold	EV/Invested capital basis
05/28/21	CIMB	SATS	3.86	4.3	Add	DCF
05/28/21	UOB Kay Hian	SATS	3.86	4.09	Hold
05/31/21	OCBC	SATS	3.97	4.84	Buy
06/02/21	DBS Vickers	SATS	4.03	4.5	Buy
06/09/21	Lim & Tan	SATS	4.05	0	Hold
06/10/21	UOB Kay Hian	SATS	4.08	4.09	Hold
07/23/21	CIMB	SATS	3.87	4.3	Add	DCF
07/23/21	Lim & Tan	SATS	3.87	0	Hold
07/26/21	OCBC	SATS	3.87	4.8	Buy