Stock calls for 13 May 2025

Date	Analyst	Company	Last	Target	Call	Valuation
05/13/25	UOB Kay Hian	DBS	43.71	45.45	Hold	GGM, PB1.92x FY26
05/13/25	JPM	Frasers Logistics	0.835	0.8	Underweight
05/13/25	CIMB	Frasers Property	0.815	1.41	Add	RNAV (45% discount)
05/13/25	DBS Vickers	Hutchison Port	0.148	0.18	Buy	DCF
05/13/25	DBS Vickers	Manulife US Reit	0.063	0.1	Hold
05/13/25	DBS Vickers	Mapletree Logistics	1.08	1.55	Buy	DCF
05/13/25	phillip	OCBC	16.23	17.1	Accumulate	GGM, PB1.3x FY25
05/13/25	UOB Kay Hian	OCBC	16.23	19.3	Buy	GGM, PB1.38x FY26
05/13/25	DMG & Partners	Riverstone	0.765	0.95	Buy	DCF
05/13/25	DBS Vickers	SIA Engineering	2.28	2.5	Hold
05/13/25	Lim & Tan	SIA Engineering	2.28	2.6	Accumulate
05/13/25	Phillip	ST Engineering	7.63	8.2	Accumulate	DCF
05/13/25	UOB Kay Hian	ST Engineering	7.63	7.37	Hold	PER24.6x FY26
05/13/25	DBS Vickers	Starhub	1.17	1.38	Buy	DCF
05/13/25	Phillip	Starhub	1.17	1.08	Neutral	EV/Ebitda6x FY25
05/13/25	UOB Kay Hian	Starhub	1.17	1.26	Buy	DCF
05/13/25	Citi Research	Starhub	1.17	1.43	Buy	EV/Ebitda7.2x FY25
05/13/25	DBS Vickers	Thai Beverage	0.515	0.63	Buy	PER16x FY25
05/13/25	Phillip	Thai Beverage	0.515	0.56	Accumulate	PER12x FY25
05/13/25	UOB Kay Hian	Thai Beverage	0.515	0.51	Hold	Sum of parts
05/13/25	DBS Vickers	UMS	1.05	1.31	Buy	PER18x FY25
05/13/25	Lim & Tan	UMS	1.05	1.23	Accumulate