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Friday, October 26, 2018

Keppel Reit - Stock calls


Date Analyst Company Last Target Call Valuation
01/09/17 DBS Vickers Keppel Reit 1.05 1.23 Buy DCF
01/09/17 Morgan Stanley Keppel Reit 1.05 0.9 Underweight
01/11/17 Kim Eng Keppel Reit 1.055 1.21 Buy
01/25/17 CIMB Keppel Reit 1.045 1.03 Hold DDM
01/25/17 Credit Suisse Keppel Reit 1.045 0.97 Neutral
01/25/17 DIR Keppel Reit 1.045 0.95 Underperform DDM
01/25/17 DMG & Partners Keppel Reit 1.045 0.99 Neutral DDM
01/25/17 Kim Eng Keppel Reit 1.045 1.18 Buy
01/25/17 Religare Keppel Reit 1.045 1.02 Hold
01/25/17 UOB Kay Hian Keppel Reit 1.045 1.21 Buy DDM
02/07/17 DIR Keppel Reit 1.19 0.92 Underperform DDM
02/09/17 Credit Suisse Keppel Reit 1.02 1 Neutral
02/17/17 JP Morgan Keppel Reit 1.015 1.15 Overweight
02/28/17 Deutsche Keppel Reit 1.025 1 Hold
03/07/17 UOB Kay Hian Keppel Reit 1.02 1.21 Buy
03/10/17 DMG & Partners Keppel Reit 1.01 0.99 Neutral
03/17/17 DBS Vickers Keppel Reit 1.015 1.23 Buy
04/07/17 DMG & Partners Keppel Reit 1.055 0.99 Neutral DDM
04/11/17 UOB Kay Hian Keppel Reit 1.055 1.21 Buy
04/18/17 DIR Keppel Reit 1.055 0.92 Underperform DDM
04/18/17 Kim Eng Keppel Reit 1.055 1.18 Buy Yield 5.25%
04/20/17 CIMB Keppel Reit 1.07 1.09 Hold DDM
04/21/17 DIR Keppel Reit 1.05 0.94 Underperform DDM
05/18/17 DBS Vickers Keppel Reit 1.065 1.23 Buy
05/18/17 Deutsche Keppel Reit 1.065 1.1 Hold
05/25/17 UOB Kay Hian Keppel Reit 1.095 1.3 Buy
06/12/17 DBS Vickers Keppel Reit 1.14 1.23 Buy
06/22/17 Deutsche Keppel Reit 1.145 1.1 Hold
06/22/17 OCBC Keppel Reit 1.145 1.23 Buy
07/03/17 DIR Keppel Reit 1.145 0.98 Underperform DDM
07/11/17 Kim Eng Keppel Reit 1.15 1.18 Buy
07/12/17 DMG & Partners Keppel Reit 1.16 0.99 Neutral
07/19/17 UOB Kay Hian Keppel Reit 1.17 1.3 Buy DDM
07/19/17 DMG & Partners Keppel Reit 1.17 1.05 Neutral DDM
07/19/17 Credit Suisse Keppel Reit 1.17 0.97 Underperform
07/19/17 CIMB Keppel Reit 1.17 1.16 Hold DDM
07/19/17 Kim Eng Keppel Reit 1.17 1.18 Hold
07/19/17 DBS Vickers Keppel Reit 1.17 1.23 Buy DCF
08/01/17 DBS Vickers Keppel Reit 1.16 1.23 Buy
09/21/17 DMG & Partners Keppel Reit 1.175 1.05 Neutral
09/25/17 Kim Eng Keppel Reit 1.165 1.18 Hold
10/19/17 DMG & Partners Keppel Reit 1.195 1.05 Neutral
10/19/17 DBS Vickers Keppel Reit 1.195 1.28 Buy DCF
10/19/17 DIR Keppel Reit 1.195 0.98 Underperform DDM
10/19/17 UOB Kay Hian Keppel Reit 1.195 1.3 Buy DDM
10/19/17 CIMB Keppel Reit 1.195 1.2 Hold DDM
11/03/17 Morgan Stanley Keppel Reit 1.175 0.95 Underweight Target Yield 6.5%
11/28/17 Macquarie Keppel Reit 1.25 1.3 Outperform
12/01/17 UOB Kay Hian Keppel Reit 1.26 1.43 Buy
12/18/17 DBS Vickers Keppel Reit 1.25 1.39 Buy
12/18/17 Kim Eng Keppel Reit 1.25 1.19 Hold Target yield 5.25%, Up from $1.16
01/04/18 Deutsche Keppel Reit 1.27 1.25 Hold
01/05/18 DMG & Partners Keppel Reit 1.27 1.05 Neutral
01/24/18 Kim Eng Keppel Reit 1.32 1.19 Hold
01/24/18 UOB Kay Hian Keppel Reit 1.32 1.43 Buy DDM
01/24/18 Credit Suisse Keppel Reit 1.32 0.97 Underperform
01/24/18 CIMB Keppel Reit 1.32 1.34 Hold DDM
01/24/18 DBS Vickers Keppel Reit 1.32 1.41 Buy DCF
01/24/18 DMG & Partners Keppel Reit 1.32 1.06 Sell DDM
02/14/18 Deutsche Keppel Reit 1.18 1.3 Buy
03/19/18 DBS Vickers Keppel Reit 1.21 1.41 Buy
04/19/18 UOB Kay Hian Keppel Reit 1.2 1.43 Buy DDM
04/19/18 DBS Vickers Keppel Reit 1.2 1.41 Buy
04/19/18 Lim & Tan Keppel Reit 1.2 0 Hold
05/17/18 DMG & Partners Keppel Reit 1.18 1.06 Sell
07/17/18 CIMB Keppel Reit 1.14 1.34 Add DDM
07/17/18 UOB Kay Hian Keppel Reit 1.14 1.35 Buy DDM
07/17/18 DBS Vickers Keppel Reit 1.14 1.41 Buy DCF
08/02/18 DBS Vickers Keppel Reit 1.19 1.41 Buy
09/14/18 DBS Vickers Keppel Reit 1.16 1.41 Buy
09/25/18 Deutsche Keppel Reit 1.19 1.3 Buy
10/16/18 UOB Kay Hian Keppel Reit 1.14 1.35 Buy DDM
10/16/18 DMG & Partners Keppel Reit 1.14 1.07 Neutral DDM
10/16/18 DBS Vickers Keppel Reit 1.14 1.41 Buy
10/16/18 CIMB Keppel Reit 1.14 1.34 Add DDM

Keppel KBS - Stock calls


Date Analyst Company Last Target Call Valuation
01/15/18 DBS Vickers Keppel KBS 0.905 0.95 Buy DCF
04/19/18 DBS Vickers Keppel KBS 0.885 0.95 Buy
07/19/18 DBS Vickers Keppel KBS 0.88 0.95 Buy DCF
09/25/18 DBS Vickers Keppel KBS 0.78 0.95 Buy
10/19/18 DBS Vickers Keppel KBS 0.73 0.95 Buy

Stock calls for 26 October 2018


Date Analyst Company Last Target Call Valuation
10/26/18 CIMB A-Reit 2.58 2.84 Add DDM
10/26/18 DBS Vickers A-Reit 2.58 2.95 Buy DCF
10/26/18 Phillip A-Reit 2.58 2.78 Accumulate DDM, PB1.3x FY19
10/26/18 OCBC A-Reit 2.58 2.64 Hold
10/26/18 Kim Eng A-Reit 2.58 2.95 Buy DDM
10/26/18 DBS Vickers AIMS AMP Cap Ind Reit 1.35 1.55 Buy DCF
10/26/18 OCBC CapitaCommercial 1.73 1.69 Hold
10/26/18 DBS Vickers Capitamall Trust 2.17 2.45 Buy
10/26/18 Phillip Capitamall Trust 2.17 2.09 Neutral DDM, PB0.99x FY18
10/26/18 OCBC Capitamall Trust 2.17 2.12 Hold
10/26/18 DMG & Partners Frasers Centrepoint Trust 2.22 2.19 Neutral
10/26/18 Kim Eng M1 2.09 1.63 Sell DDM
10/26/18 DMG & Partners M1 2.09 2.06 Neutral
10/26/18 Kim Eng Mapletree Commercial 1.63 1.6 Hold DDM
10/26/18 CIMB Mapletree Commercial 1.63 1.75 Add
10/26/18 Kim Eng Mapletree Industrial 1.96 2.25 Buy
10/26/18 Kim Eng Netlink 0.78 0.93 Buy
10/26/18 DBS Vickers Parkway Life 2.63 3.1 Buy DCF
10/26/18 CIMB Parkway Life 2.63 3.05 Hold
10/26/18 CIMB Sembcorp Marine 1.72 2.46 Add PB2.2x CY18
10/26/18 UOB Kay Hian Sembcorp Marine 1.72 1.83 Hold PB1.7x FY18, Buy @ $1.65
10/26/18 OCBC Sembcorp Marine 1.72 1.73 Hold
10/26/18 Exotix Capital Thai Beverage 0.63 0.9 Buy
10/26/18 Lim & Tan UOB 24.95 0 Buy
10/26/18 OCBC UOB 24.95 32.09 Buy

China is trying to snare petrochemical businesses from Singapore now.

https://finance.yahoo.com/news/big-oil-woos-china-24-210000913.html

Singapore is a petrochemical hub because it is the world's 3rd largest oil refinery.

However, I believe China will displace Singapore in the future because it is the largest energy consumer in the world now and has all the right conditions to develop its own petrochemical hub to displace Singapore.

https://www.iea.org/countries/singapore/

https://ycharts.com/indicators/singapore_oil_refinery_capacities

Thursday, October 25, 2018

Keppel Infrastructure - Stock calls


Date Analyst Company Last Target Call Valuation
01/24/17 DBS Vickers Keppel Infrastructure 0.495 0.56 Buy DCF
01/24/17 UOB Kay Hian Keppel Infrastructure 0.495 0.54 Hold Buy below $0.475
04/07/17 Credit Suisse Keppel Infrastructure 0.525 0.57 Outperform
04/18/17 DBS Vickers Keppel Infrastructure 0.53 0.56 Buy DCF
07/19/17 Credit Suisse Keppel Infrastructure 0.565 0.57 Neutral
07/19/17 DBS Vickers Keppel Infrastructure 0.565 0.6 Buy DDM
10/17/17 DBS Vickers Keppel Infrastructure 0.55 0.6 Buy DDM
01/23/18 UOB Kay Hian Keppel Infrastructure 0.585 0.61 Buy
01/24/18 DBS Vickers Keppel Infrastructure 0.58 0.6 Buy DDM
04/18/18 DBS Vickers Keppel Infrastructure 0.545 0.6 Buy DDM
07/19/18 DBS Vickers Keppel Infrastructure 0.53 0.58 Buy DDM
10/18/18 DBS Vickers Keppel Infrastructure 0.49 0.58 Buy DDM
10/18/18 Lim & Tan Keppel Infrastructure 0.49 0 Hold

Keppel DC Reit - Stock calls


Date Analyst Company Last Target Call Valuation
01/09/17 CIMB Keppel DC Reit 1.23 1.18 Hold DDM
01/09/17 DBS Vickers Keppel DC Reit 1.23 1.33 Buy DCF
01/09/17 Deutsche Keppel DC Reit 1.23 1.2 Hold
01/24/17 CIMB Keppel DC Reit 1.215 1.21 Hold DDM
01/24/17 Lim & Tan Keppel DC Reit 1.215 0 Hold
01/24/17 OCBC Keppel DC Reit 1.215 1.39 Buy
01/25/17 Credit Suisse Keppel DC Reit 1.205 1.31 Outperform
01/25/17 DBS Vickers Keppel DC Reit 1.205 1.3 Buy DCF
01/25/17 Phillip Keppel DC Reit 1.205 1.15 Hold DDM, PB1.21x FY17
02/17/17 JP Morgan Keppel DC Reit 1.165 1.25 Overweight
02/20/17 Phillip Keppel DC Reit 1.175 1.15 Neutral
02/28/17 Deutsche Keppel DC Reit 1.165 1.2 Hold
03/01/17 CIMB Keppel DC Reit 1.18 1.21 Add DDM
03/06/17 OCBC Keppel DC Reit 1.165 1.39 Buy
03/17/17 DBS Vickers Keppel DC Reit 1.195 1.3 Buy
04/03/17 OCBC Keppel DC Reit 1.2 1.39 Buy
04/07/17 Lim & Tan Keppel DC Reit 1.215 0 Buy
04/18/17 CIMB Keppel DC Reit 1.225 1.26 Add DDM
04/18/17 Credit Suisse Keppel DC Reit 1.225 1.31 Outperform
04/18/17 Lim & Tan Keppel DC Reit 1.225 0 Hold
04/18/17 Phillip Keppel DC Reit 1.225 1.15 Neutral DDM
05/08/17 Phillip Keppel DC Reit 1.24 1.15 Neutral
05/18/17 DBS Vickers Keppel DC Reit 1.23 1.3 Buy
05/29/17 OCBC Keppel DC Reit 1.28 1.39 Buy
06/22/17 Deutsche Keppel DC Reit 1.26 1.2 Hold
07/18/17 Phillip Keppel DC Reit 1.32 1.28 Hold DDM, PB1.35x FY17
07/18/17 Credit Suisse Keppel DC Reit 1.32 1.47 Outperform
07/18/17 OCBC Keppel DC Reit 1.32 1.39 Buy DDM
07/18/17 CIMB Keppel DC Reit 1.32 1.28 Hold DDM
07/19/17 DBS Vickers Keppel DC Reit 1.33 1.4 Buy
08/18/17 Phillip Keppel DC Reit 1.275 1.28 Neutral DDM, PB1.35x FY17
08/22/17 OCBC Keppel DC Reit 1.285 1.39 Buy
09/04/17 CIMB Keppel DC Reit 1.285 1.28 Hold
09/13/17 DBS Vickers Keppel DC Reit 1.295 1.44 Buy
09/14/17 Phillip Keppel DC Reit 1.29 1.31 Neutral DDM, PB1.37x FY17
09/14/17 Lim & Tan Keppel DC Reit 1.29 0 Hold
09/26/17 CIMB Keppel DC Reit 1.305 1.36 Add
10/17/17 Phillip Keppel DC Reit 1.35 1.36 Neutral DDM, PB1.42x FY17
10/17/17 OCBC Keppel DC Reit 1.35 1.39 Buy
10/17/17 Lim & Tan Keppel DC Reit 1.35 0 Hold
10/17/17 CIMB Keppel DC Reit 1.35 1.37 Hold
10/19/17 DBS Vickers Keppel DC Reit 1.345 1.44 Buy DCF
11/20/17 OCBC Keppel DC Reit 1.4 1.5 Buy PB1.47x FY18
01/23/18 OCBC Keppel DC Reit 1.47 1.51 Hold
01/23/18 Lim & Tan Keppel DC Reit 1.47 0 Hold
01/23/18 CIMB Keppel DC Reit 1.47 1.44 Hold
01/23/18 DBS Vickers Keppel DC Reit 1.47 1.6 Buy DCF
01/24/18 Phillip Keppel DC Reit 1.46 1.47 Neutral DDM
02/12/18 Phillip Keppel DC Reit 1.34 1.47 Neutral DDM
03/19/18 DBS Vickers Keppel DC Reit 1.4 1.6 Buy
04/03/18 CIMB Keppel DC Reit 1.43 1.52 Add DDM
04/17/18 Phillip Keppel DC Reit 1.46 1.47 Neutral DDM
04/17/18 CIMB Keppel DC Reit 1.46 1.47 Add DDM
04/17/18 OCBC Keppel DC Reit 1.46 1.5 Hold
04/17/18 DBS Vickers Keppel DC Reit 1.46 1.6 Buy
04/17/18 Credit Suisse Keppel DC Reit 1.46 1.56 Outperform
05/08/18 Phillip Keppel DC Reit 1.43 1.51 Accumulate DDM
05/08/18 Deutsche Keppel DC Reit 1.43 1.3 Hold
05/08/18 Credit Suisse Keppel DC Reit 1.43 1.56 Outperform
05/08/18 CIMB Keppel DC Reit 1.43 1.49 Add DDM
05/08/18 OCBC Keppel DC Reit 1.43 1.54 Buy
05/21/18 Phillip Keppel DC Reit 1.36 1.51 Accumulate
06/26/18 DBS Vickers Keppel DC Reit 1.35 1.52 Buy DCF
07/18/18 Phillip Keppel DC Reit 1.35 1.45 Accumulate DDM
07/18/18 OCBC Keppel DC Reit 1.35 1.54 Buy
07/18/18 CIMB Keppel DC Reit 1.35 1.49 Add DDM
07/18/18 DBS Vickers Keppel DC Reit 1.35 1.52 Buy
08/08/18 DBS Vickers Keppel DC Reit 1.39 1.52 Buy
09/04/18 OCBC Keppel DC Reit 1.36 1.54 Buy
09/25/18 Deutsche Keppel DC Reit 1.36 1.55 Buy
10/17/18 Phillip Keppel DC Reit 1.34 1.45 Accumulate DDM
10/17/18 DBS Vickers Keppel DC Reit 1.34 1.52 Buy
10/17/18 OCBC Keppel DC Reit 1.34 1.48 Buy DDM
10/17/18 CIMB Keppel DC Reit 1.34 1.51 Add DDM

Keppel Corp - Stock calls


Date Analyst Company Last Target Call Valuation
12/06/17 DBS Vickers Keong Hong 0.595 0.75 Not Rated PER5.5x FY18
01/03/17 DMG & Partners Keppel Corp 5.79 6.52 Buy Sum of parts
01/05/17 Deutsche Keppel Corp 5.82 5.9 Hold Sum of parts (15% discount)
01/16/17 DIR Keppel Corp 6.12 5.72 Hold
01/25/17 Credit Suisse Keppel Corp 6.36 5 Underperform
01/27/17 CIMB Keppel Corp 6.38 5.21 Reduce RNAV
01/27/17 DIR Keppel Corp 6.38 5.93 Hold Sum of parts (10% discount)
01/27/17 DMG & Partners Keppel Corp 6.38 7.39 Buy Sum of parts, PER10x FY17
01/27/17 Lim & Tan Keppel Corp 6.38 0 Sell Bloomberg consensus $5.79
01/27/17 OCBC Keppel Corp 6.38 6.26 Hold
01/27/17 UOB Kay Hian Keppel Corp 6.38 6.45 Hold Sum of parts, Buy @ $5.90
01/31/17 Amfrasers Keppel Corp 6.27 6.5 Hold Sum of parts
01/31/17 DBS Vickers Keppel Corp 6.27 6 Hold Sum of parts
02/17/17 CLSA Keppel Corp 6.53 7.6 Buy
02/22/17 OCBC Keppel Corp 6.57 7.4 Buy
03/01/17 Credit Suisse Keppel Corp 6.81 8.7 Outperform Sum of parts
03/14/17 DIR Keppel Corp 6.75 6.44 Hold Sum of parts
03/14/17 Deutsche Keppel Corp 6.75 6.4 Hold
03/20/17 DBS Vickers Keppel Corp 6.87 6 Hold Sum of parts, PB0.9x FY17
03/20/17 UOB Kay Hian Keppel Corp 6.87 6.45 Hold Sum of parts, Buy @ $6.10
03/21/17 CIMB Keppel Corp 6.85 7.24 Hold Sum of parts
03/22/17 DMG & Partners Keppel Corp 6.83 7.77 Buy Sum of parts, PER10.6x FY17
03/22/17 OCBC Keppel Corp 6.83 7.4 Buy
03/22/17 UOB Kay Hian Keppel Corp 6.83 6.98 Hold Sum of parts, Buy @ $6.25
04/07/17 Credit Suisse Keppel Corp 6.84 8.7 Outperform
04/11/17 Lim & Tan Keppel Corp 6.96 0 Hold
04/21/17 CIMB Keppel Corp 6.55 7.24 Hold Sum of parts
04/21/17 DIR Keppel Corp 6.55 6.44 Hold Sum of parts (10% discount)
04/21/17 OCBC Keppel Corp 6.55 7.36 Buy PB1.1x
04/21/17 UOB Kay Hian Keppel Corp 6.55 6.55 Hold Sum of parts, Buy @ $5.90
04/24/17 DBS Vickers Keppel Corp 6.56 6 Hold Sum of parts, PB0.9x FY17
04/24/17 DMG & Partners Keppel Corp 6.56 7.56 Buy Sum of parts
04/25/17 Amfrasers Keppel Corp 6.51 7.02 Buy Sum of parts
04/28/17 Macquarie Keppel Corp 6.57 5.8 Neutral
05/24/17 UOB Kay Hian Keppel Corp 6.55 6.55 Hold
05/30/17 DMG & Partners Keppel Corp 6.48 7.55 Buy Sum of parts
06/02/17 OCBC Keppel Corp 6.46 7.36 Buy Sum of parts (10% discount)
06/20/17 UOB Kay Hian Keppel Corp 6.31 6.55 Hold
06/30/17 DMG & Partners Keppel Corp 6.36 7.34 Buy Sum of parts
07/04/17 Credit Suisse Keppel Corp 6.32 8.7 Outperform
07/05/17 DIR Keppel Corp 6.34 6.44 Hold Sum of parts
07/05/17 OCBC Keppel Corp 6.34 7.36 Buy
07/07/17 UOB Kay Hian Keppel Corp 6.4 6.55 Hold Sum of parts, Buy @ $5.90
07/21/17 UOB Kay Hian Keppel Corp 6.53 6.86 Hold Sum of parts, Buy @ $6.20
07/21/17 CIMB Keppel Corp 6.53 7.24 Hold Sum of parts
07/21/17 DIR Keppel Corp 6.53 6.39 Hold Sum of parts
07/21/17 DBS Vickers Keppel Corp 6.53 7.6 Buy Sum of parts, PB1.1x FY17
07/21/17 Lim & Tan Keppel Corp 6.53 0 Hold
07/24/17 Macquarie Keppel Corp 6.58 5.8 Neutral
07/24/17 Amfrasers Keppel Corp 6.58 7.61 Buy Sum of parts
08/01/17 Credit Suisse Keppel Corp 6.41 8.7 Outperform PER12.1x FY17, PB0.9x
08/18/17 Lim & Tan Keppel Corp 6.33 0 Hold
08/18/17 DBS Vickers Keppel Corp 6.33 7.6 Buy Sum of parts
08/25/17 CIMB Keppel Corp 6.36 7.24 Hold Sum of parts
08/25/17 Morgan Stanley Keppel Corp 6.36 6.18 Equal Weight Sum of parts
08/29/17 DMG & Partners Keppel Corp 6.39 7.34 Buy Sum of parts
09/13/17 OCBC Keppel Corp 6.27 7.36 Buy
09/15/17 UOB Kay Hian Keppel Corp 6.29 6.86 Hold
09/20/17 DBS Vickers Keppel Corp 6.38 7.6 Buy Sum of parts
09/20/17 Deutsche Keppel Corp 6.38 7.5 Buy
09/27/17 Credit Suisse Keppel Corp 6.46 8.7 Outperform
10/02/17 UOB Kay Hian Keppel Corp 6.49 6.71 Hold
10/05/17 Lim & Tan Keppel Corp 6.52 0 Buy
10/06/17 OCBC Keppel Corp 6.59 7.36 Buy
10/09/17 DBS Vickers Keppel Corp 6.68 7.6 Buy
10/11/17 Credit Suisse Keppel Corp 6.77 8.7 Outperform Sum of parts
10/13/17 CIMB Keppel Corp 6.79 8.58 Add Sum of parts
10/20/17 OCBC Keppel Corp 7.02 7.73 Buy
10/20/17 Amfrasers Keppel Corp 7.02 7.61 Buy Sum of parts
10/20/17 UOB Kay Hian Keppel Corp 7.02 8.35 Buy Sum of parts
10/20/17 Lim & Tan Keppel Corp 7.02 0 Buy
10/23/17 DMG & Partners Keppel Corp 7.3 7.92 Buy Sum of parts
10/27/17 OCBC Keppel Corp 7.4 8.31 Buy Sum of parts
11/03/17 Morgan Stanley Keppel Corp 7.66 6.18 Equal Weight Sum of parts
11/09/17 UOB Kay Hian Keppel Corp 7.57 8.35 Buy
11/09/17 Deutsche Keppel Corp 7.57 8.6 Buy
11/17/17 CIMB Keppel Corp 7.28 8.58 Add
11/24/17 Lim & Tan Keppel Corp 7.59 0 Buy
11/29/17 OCBC Keppel Corp 7.74 8.41 Buy
12/04/17 Lim & Tan Keppel Corp 7.76 0 Buy
12/08/17 UOB Kay Hian Keppel Corp 7.49 8.98 Buy Sum of parts
12/18/17 Amfrasers Keppel Corp 7.53 8.67 Buy Sum of parts
12/20/17 CIMB Keppel Corp 7.5 8.58 Add Sum of parts
12/26/17 Amfrasers Keppel Corp 7.47 8.04 Buy Sum of parts
12/26/17 OCBC Keppel Corp 7.47 8.12 Buy Sum of parts (10% discount)
12/26/17 Lim & Tan Keppel Corp 7.47 0 Hold
12/27/17 Deutsche Keppel Corp 7.29 8.1 Buy Sum of parts (20% discount)
01/02/18 UOB Kay Hian Keppel Corp 7.35 8.75 Buy Sum of parts
01/02/18 CIMB Keppel Corp 7.35 8.58 Add Sum of parts
01/09/18 DBS Vickers Keppel Corp 7.77 9.8 Buy Sum of parts, PB1.3x FY18
01/10/18 Amfrasers Keppel Corp 7.85 8.04 Buy
01/10/18 Deutsche Keppel Corp 7.85 8.5 Buy
01/22/18 OCBC Keppel Corp 8.25 9.32 Buy
01/23/18 DBS Vickers Keppel Corp 8.29 10.3 Buy Sum of parts, PB1.3x FY18
01/26/18 OCBC Keppel Corp 8.58 9.45 Buy
01/26/18 UOB Kay Hian Keppel Corp 8.58 9.3 Buy Sum of parts
01/26/18 DBS Vickers Keppel Corp 8.58 10.2 Buy
01/26/18 Lim & Tan Keppel Corp 8.58 0 Buy on weakness
01/26/18 CIMB Keppel Corp 8.58 10 Add Sum of parts
02/02/18 Deutsche Keppel Corp 8.7 8.4 Hold
02/07/18 CIMB Keppel Corp 8.19 10 Add
02/13/18 UOB Kay Hian Keppel Corp 7.8 9.3 Buy
02/13/18 DBS Vickers Keppel Corp 7.8 10.2 Buy
03/02/18 UOB Kay Hian Keppel Corp 8.01 9.3 Buy
03/05/18 Credit Suisse Keppel Corp 7.87 10 Outperform
03/05/18 CIMB Keppel Corp 7.87 10 Add Sum of parts
03/05/18 OCBC Keppel Corp 7.87 9.45 Buy
03/06/18 DBS Vickers Keppel Corp 7.63 10.2 Buy Sum of parts
03/12/18 Lim & Tan Keppel Corp 7.73 0 Buy
03/12/18 Amfrasers Keppel Corp 7.73 8.04 Buy
03/21/18 UOB Kay Hian Keppel Corp 7.77 9.1 Buy Sum of parts
03/26/18 Morgan Stanley Keppel Corp 7.72 9.45 Overweight Sum of parts, Up from $9.01
04/03/18 CIMB Keppel Corp 7.8 10 Add Sum of parts
04/03/18 UOB Kay Hian Keppel Corp 7.8 9.1 Buy
04/03/18 DBS Vickers Keppel Corp 7.8 10.2 Buy
04/11/18 OCBC Keppel Corp 7.81 9.45 Buy Sum of parts
04/20/18 UOB Kay Hian Keppel Corp 8.07 9 Buy Sum of parts
04/20/18 Lim & Tan Keppel Corp 8.07 0 Hold
04/23/18 Amfrasers Keppel Corp 8.21 9.43 Buy Sum of parts
05/03/18 UOB Kay Hian Keppel Corp 8.15 9 Buy Sum of parts
05/03/18 OCBC Keppel Corp 8.15 9.4 Buy
05/08/18 Credit Suisse Keppel Corp 8.13 10 Outperform
05/22/18 CIMB Keppel Corp 8.19 10 Add Sum of parts
06/04/18 UOB Kay Hian Keppel Corp 7.65 9 Buy
06/05/18 DBS Vickers Keppel Corp 7.75 10.2 Buy
07/03/18 UOB Kay Hian Keppel Corp 7.01 9 Buy Sum of parts
07/03/18 DBS Vickers Keppel Corp 7.01 10.2 Buy
07/09/18 DBS Vickers Keppel Corp 6.58 9.1 Buy Sum of parts
07/11/18 CIMB Keppel Corp 6.77 8.81 Add Sum of parts
07/20/18 DBS Vickers Keppel Corp 6.96 9 Buy Sum of parts, PB1.3x FY18
07/20/18 OCBC Keppel Corp 6.96 8.7 Buy
07/23/18 CIMB Keppel Corp 7.09 8.82 Add Sum of parts
07/23/18 Lim & Tan Keppel Corp 7.09 0 Hold
07/23/18 Deutsche Keppel Corp 7.09 8.4 Hold RNAV (35% discount)
08/24/18 UOB Kay Hian Keppel Corp 6.81 7.37 Hold Sum of parts, Buy @ $6.6
09/06/18 DBS Vickers Keppel Corp 6.44 9 Buy
09/10/18 OCBC Keppel Corp 6.36 8.38 Buy Sum of parts
09/21/18 UOB Kay Hian Keppel Corp 6.8 7.37 Hold Buy @ $6.60
09/25/18 CIMB Keppel Corp 7 8.82 Add Sum of parts
09/25/18 Deutsche Keppel Corp 7 8.4 Hold
09/27/18 Amfrasers Keppel Corp 7.16 9.43 Buy Sum of parts
09/28/18 Lim & Tan Keppel Corp 7.16 0 Neutral
10/02/18 Amfrasers Keppel Corp 7.04 9.43 Buy Sum of parts
10/03/18 Macquarie Keppel Corp 7.04 8.4 Outperform Sum of parts
10/08/18 CIMB Keppel Corp 7.1 8.82 Add
10/19/18 UOB Kay Hian Keppel Corp 6.76 6.79 Hold Sum of parts, Buy @ $6.10
10/19/18 OCBC Keppel Corp 6.76 7.97 Buy
10/19/18 CIMB Keppel Corp 6.76 8.28 Add Sum of parts
10/22/18 Lim & Tan Keppel Corp 6.64 0 Hold

Stock calls for 25 October 2018


Date Analyst Company Last Target Call Valuation
10/25/18 UOB Kay Hian A-Reit 2.56 3.01 Buy
10/25/18 UOB Kay Hian ART 1.07 1.18 Hold
10/25/18 DBS Vickers Ascendas India Trust 1.06 1.25 Buy
10/25/18 UOB Kay Hian CapitaCommercial 1.73 1.99 Buy
10/25/18 UOB Kay Hian Capitamall Trust 2.14 2.02 Hold
10/25/18 OCBC Frasers Centrepoint Trust 2.23 2.5 Buy
10/25/18 UOB Kay Hian Frasers Centrepoint Trust 2.23 2.32 Buy DDM
10/25/18 DBS Vickers Frasers Centrepoint Trust 2.23 2.35 Buy
10/25/18 CIMB Frasers Centrepoint Trust 2.23 2.4 Add DDM
10/25/18 Lim & Tan Frasers Centrepoint Trust 2.23 0 Hold
10/25/18 UOB Kay Hian Frasers Hospitality Trust 0.7 0.82 Buy
10/25/18 UOB Kay Hian Frasers Logistics 1.03 1.16 Buy
10/25/18 UOB Kay Hian Genting 0.91 1.38 Buy EV/Ebitda10.5x FY18
10/25/18 DBS Vickers Japfa 0.63 0.86 Buy Sum of parts (10% discount), PER12.2x FY19
10/25/18 UOB Kay Hian M1 2.1 2.06 Accept Offer Offer $2.06, PER13.2x, EV/Ebidta7.2x FY18
10/25/18 OCBC M1 2.1 2.06 Hold Offer $2.06
10/25/18 UOB Kay Hian Manulife US Reit 0.775 1.06 Buy
10/25/18 Phillip Mapletree Industrial 1.95 1.99 Neutral DDM, PB1.34x FY19
10/25/18 UOB Kay Hian Mapletree Industrial 1.95 1.94 Hold DDM
10/25/18 CIMB Mapletree Industrial 1.95 2.08 Add DDM
10/25/18 UOB Kay Hian Parkway Life 2.67 3.15 Buy
10/25/18 CIMB Suntec Reit 1.81 2.06 Add DDM
10/25/18 UOB Kay Hian Suntec Reit 1.81 2.01 Hold
10/25/18 DBS Vickers Suntec Reit 1.81 2.3 Buy
10/25/18 OCBC Suntec Reit 1.81 1.83 Hold

Something is wrong with the US economy.

https://www.zacks.com/stock/news/328942/verizon-aims-to-lower-costs-through-employee-retrenchment

If the US economy is doing as well as the statistics are showing, Verizon won't be retrenching so many employees (44,000).

When a US telecom company needs to retrench 44,000 employees, it is showing that the US economic growth won't be good in the future because the US telecom company cannot earn enough to support the massive employees.

The USA is good at spinning stories.

https://finance.yahoo.com/news/chinese-spies-reportedly-listening-trump-230100646.html

The USA tapped on other leaders but it insisted that China tapped on its president.

https://www.theguardian.com/us-news/2015/jul/08/nsa-tapped-german-chancellery-decades-wikileaks-claims-merkel

What a joke!

Wednesday, October 24, 2018

The global semiconductor slowdown is permanent because of the USA's anti-china policies.

https://sg.finance.yahoo.com/news/stmicro-upholds-bullish-2018-growth-target-strong-automotive-064828277--finance.html

This global semiconductor slowdown is permanent as China switches to home-made chips.  This switch is caused by US refusal to sell chips to ZTE.

This slowdown for foreign semiconductor manufacturer will be permanent as China ramps up its home-made chips for its own devices.  Thereafter, China will export China chips to the world at cheaper prices.

A good example will be Huawei Kirin chips.  Huawei has learnt from the ZTE lesson and ramped up its own development of Kirin chips.  The Kirin 980 is the latest AI chips and will be production ready soon.  Huawei will start to export its Kirin chips after it can satisfy its own demands.

Other China titans like Xiaomi, Oppo, Lenovo, etc will also try to develop or ramp up their own chips so that they won't encounter the ZTE situation ever again.  In short, the US has propelled China to develop its own semiconductor industry.