Singtel - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
06/09/21	DBS Vickers	Singtel	2.37	3.01	Buy
06/09/21	Phillip	Singtel	2.37	2.32	Neutral
07/05/21	UOB Kay Hian	Singtel	2.27	2.84	Buy	DCF
07/13/21	DMG & Partners	Singtel	2.28	3	Buy
08/10/21	Kim Eng	Singtel	2.28	2.83	Buy	Sum of parts
08/12/21	DBS Vickers	Singtel	2.31	3.01	Buy
08/13/21	CIMB	Singtel	2.37	2.9	Add
08/13/21	DMG & Partners	Singtel	2.37	3	Buy
08/13/21	Macquarie	Singtel	2.37	2.84	outperform	DCF
08/13/21	UOB Kay Hian	Singtel	2.37	2.75	Buy	DCF
08/17/21	Phillip	Singtel	2.4	2.52	Accumulate	Sum of parts
08/27/21	DBS Vickers	Singtel	2.38	3.13	Buy	Sum of parts
09/01/21	Citi Research	Singtel	2.32	3.48	Buy
09/01/21	Macquarie	Singtel	2.32	2.83	outperform	Sum of parts
09/07/21	DMG & Partners	Singtel	2.38	3	Buy
09/13/21	CIMB	Singtel	2.4	2.9	Add
09/23/21	DBS Vickers	Singtel	2.47	3.13	Buy
09/23/21	Lim & Tan	Singtel	2.47	2.94	Accumulate
10/04/21	CIMB	Singtel	2.43	2.9	Add	Sum of parts
10/04/21	DMG & Partners	Singtel	2.43	3.37	Buy
10/04/21	UOB Kay Hian	Singtel	2.43	2.75	Buy	DCF, EV/Ebitda13x FY22
10/25/21	Lim & Tan	Singtel	2.57	3	Accumulate
11/08/21	CIMB	Singtel	2.54	2.9	Add	Sum of parts
11/12/21	Citi Research	Singtel	2.56	3.64	Buy
11/12/21	Lim & Tan	Singtel	2.56	3	Accumulate
11/12/21	Macquarie	Singtel	2.56	2.83	outperform	Sum of parts
11/12/21	UOB Kay Hian	Singtel	2.56	2.75	Buy	DCF
11/18/21	Phillip	Singtel	2.52	2.86	Buy	Sum of parts
11/30/21	DMG & Partners	Singtel	2.41	3.37	Buy
12/06/21	UOB Kay Hian	Singtel	2.38	2.75	Buy	DCF
12/09/21	Citi Research	Singtel	2.45	3.58	Buy
12/09/21	DBS Vickers	Singtel	2.45	3.13	Buy
12/17/21	Macquarie	Singtel	2.43	2.83	outperform	Sum of parts
12/21/21	Citi Research	Singtel	2.34	3.56	Buy
01/03/22	UOB Kay Hian	Singtel	2.32	2.75	Buy	DCF
01/12/22	Kim Eng	Singtel	2.42	2.83	Buy
01/24/22	DBS Vickers	Singtel	2.48	3.13	Buy
02/03/22	Lim & Tan	Singtel	2.43	3.11	Accumulate
02/10/22	CIMB	Singtel	2.55	2.9	Buy	Sum of parts
02/10/22	DMG & Partners	Singtel	2.55	3.37	Buy
02/14/22	UOB Kay Hian	Singtel	2.55	2.75	Buy	DCF
02/15/22	DBS Vickers	Singtel	2.55	3.13	Buy
02/16/22	UOB Kay Hian	Singtel	2.57	2.9	Buy
02/17/22	CIMB	Singtel	2.55	3.3	Add
02/17/22	Citi Research	Singtel	2.55	3.56	Buy	Sum of parts (10% discount)
02/17/22	Kim Eng	Singtel	2.55	2.98	Buy
02/17/22	OCBC	Singtel	2.55	2.98	Buy
02/17/22	Phillip	Singtel	2.55	2.86	Accumulate	Sum of parts
03/08/22	Citi Research	Singtel	2.51	3.44	Buy
03/08/22	DMG & Partners	Singtel	2.51	3.37	Buy
03/08/22	Lim & Tan	Singtel	2.51	3.16	Accumulate
03/09/22	UOB Kay Hian	Singtel	2.51	2.9	Buy
03/16/22	Kim Eng	Singtel	2.53	2.98	Buy	Sum of parts
03/29/22	CIMB	Singtel	2.65	3.3	Add	Sum of parts
04/01/22	Lim & Tan	Singtel	2.64	3.16	Accumulate
04/06/22	DMG & Partners	Singtel	2.66	3.37	Buy	Sum of parts
04/08/22	Kim Eng	Singtel	2.66	2.98	Buy	Sum of parts
04/12/22	UOB Kay Hian	Singtel	2.64	2.9	Buy	DCF, EV/Ebitda13x FY23
04/19/22	Lim & Tan	Singtel	2.58	3.15	Accumulate
04/27/22	CIMB	Singtel	2.77	3.3	Add

Stock calls for 5 May 2022

Date	Analyst	Company	Last	Target	Call	Valuation
05/05/22	DBS Vickers	A-Reit	2.82	3.65	Buy
05/05/22	CIMB	A-Reit	2.82	3.2	Add	DDM
05/05/22	DMG & Partners	A-Reit	2.82	3.6	Buy	DDM
05/05/22	Lim & Tan	A-Reit	2.82	3.29	Accumulate
05/05/22	DBS Vickers	ARA Hospitality	0.505	0.7	Buy
05/05/22	UOB Kay Hian	ART	1.16	1.32	Buy	DDM
05/05/22	DBS Vickers	ART	1.16	1.4	Buy	DCF, PB1.18x
05/05/22	CIMB	BRC Asia	1.65	2.1	Add
05/05/22	DBS Vickers	Capitaland Integrated Commercial Trust	2.29	2.7	Buy	PB1.3x
05/05/22	CIMB	Capitaland Integrated Commercial Trust	2.29	2.57	Add	DDM
05/05/22	DMG & Partners	Capitaland Integrated Commercial Trust	2.29	2.35	Neutral	DDM
05/05/22	Kim Eng	Capitaland Integrated Commercial Trust	2.29	2.6	Buy
05/05/22	DBS Vickers	CDL Hospitality	1.35	1.55	Buy	PB1.15x
05/05/22	DMG & Partners	CDL Hospitality	1.35	1.3	Neutral	DDM
05/05/22	CIMB	CDL Hospitality	1.35	1.38	Add
05/05/22	OCBC	CDL Hospitality	1.35	1.45	Buy
05/05/22	DMG & Partners	DBS	34.05	38.1	Buy	GGM, PB1.57x FY23
05/05/22	phillip	DBS	34.05	41.6	Accumulate	GGM, PB1.79x FY22
05/05/22	CIMB	Elite ComReit	0.66	0.76	Add	DDM
05/05/22	CIMB	Jiutian	0.094	0.17	Add
05/05/22	Lim & Tan	KSH	0.35	0	Accumulate
05/05/22	DMG & Partners	OCBC	12.32	13.9	Buy	GGM, PB1.06x FY23
05/05/22	CIMB	PanUnited	0.4	0.56	Add
05/05/22	DMG & Partners	Sheng Siong	1.54	1.51	Neutral	PER19x FY22
05/05/22	DMG & Partners	Starhub	1.26	1.29	Neutral	DCF
05/05/22	CIMB	Starhub	1.26	1.4	Hold	DCF (20% disc)
05/05/22	Kim Eng	Starhub	1.26	1.32	Hold
05/05/22	DBS Vickers	Thai Beverage	0.675	0.92	Buy
05/05/22	DMG & Partners	UOB	30.24	32.7	Neutral	GGM, PB1.18x FY23
05/05/22	phillip	UOB	30.24	35.7	Accumulate	GGM, PB1.46x FY22
05/05/22	DMG & Partners	Venture	18.25	22.8	Buy	PER19x FY22
05/05/22	CIMB	Vicplas	0.199	0.28	Add
05/05/22	UOB Kay Hian	Wilmar	4.41	5.5	Buy	Sum of parts
05/05/22	DMG & Partners	Wilmar	4.41	5.1	Buy	Sum of parts