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Monday, September 5, 2022

Aztech - Stock calls

Date

Analyst

Company

Last

Target

Call

Valuation

06/25/21

UOB Kay Hian

Aztech

1.23

1.86

Buy


07/29/21

UOB Kay Hian

Aztech

1.23

1.86

Buy

PER18.4x FY21

08/02/21

CIMB

Aztech

1.27

1.82

Add


08/02/21

DBS Vickers

Aztech

1.27

1.74

Buy

PER17.9x FY21

08/02/21

Kim Eng

Aztech

1.27

1.86

Buy


09/06/21

CIMB

Aztech

1.07

1.82

Add


10/15/21

DBS Vickers

Aztech

1.09

1.67

Buy

PER17.9x FY21

10/15/21

UOB Kay Hian

Aztech

1.09

1.7

Buy

PER13.3x FY22

10/18/21

Kim Eng

Aztech

1.07

1.26

Buy

PER10x FY22

12/02/21

Kim Eng

Aztech

0.965

1.26

Buy


12/09/21

DBS Vickers

Aztech

0.925

1.67

Buy


01/10/22

UOB Kay Hian

Aztech

0.885

1.55

Buy

PER13.3x FY22

01/17/22

DBS Vickers

Aztech

0.895

1.67

Buy


01/20/22

CIMB

Aztech

0.86

1.59

Add


02/03/22

Kim Eng

Aztech

0.845

1.26

Buy


02/03/22

UOB Kay Hian

Aztech

0.845

1.55

Buy

PER13.3x FY22

02/16/22

DBS Vickers

Aztech

0.92

1.54

Buy

PER12x FY22

02/23/22

DBS Vickers

Aztech

0.915

1.48

Buy


02/23/22

Kim Eng

Aztech

0.915

1.14

Buy


03/14/22

DBS Vickers

Aztech

0.905

1.48

Buy


03/15/22

CIMB

Aztech

0.89

1.59

Add


04/11/22

UOB Kay Hian

Aztech

0.945

1.55

Buy

PER13.3x FY22

04/19/22

CIMB

Aztech

1

1.59

Add

PER12x

04/19/22

DBS Vickers

Aztech

1

1.33

Buy


04/19/22

Kim Eng

Aztech

1

1.13

Buy


04/19/22

Lim & Tan

Aztech

1

0

Hold


06/30/22

DBS Vickers

Aztech

0.815

1.33

Buy

PER12x

07/19/22

CIMB

Aztech

0.795

1.16

Add

PER9.1x

07/25/22

DBS Vickers

Aztech

0.795

1.18

Buy

PER11x FY22

07/26/22

UOB Kay Hian

Aztech

0.795

1.46

Buy

PER12.5x FY22

07/26/22

CIMB

Aztech

0.795

1.22

Add


07/26/22

Kim Eng

Aztech

0.795

1.39

Buy


Avi-Tech - Stock calls

Date

Analyst

Company

Last

Target

Call

Valuation

08/20/21

Lim & Tan

Avi-Tech

0.41

0

Hold


08/25/21

DMG & Partners

Avi-Tech

0.4

0.42

Neutral


10/07/21

Lim & Tan

Avi-Tech

0.39

0

Hold


02/11/22

Lim & Tan

Avi-Tech

0.36

0

Accumulate


02/15/22

DMG & Partners

Avi-Tech

0.36

0.42

Buy


03/17/22

DMG & Partners

Avi-Tech

0.33

0.42

Buy


07/22/22

DMG & Partners

Avi-Tech

0.29

0.42

Buy


08/24/22

Lim & Tan

Avi-Tech

0.295

0

Hold


Ascendas India Trust - Stock calls

Date

Analyst

Company

Last

Target

Call

Valuation

07/05/21

Citi Research

Ascendas India Trust

1.44

1.82

Buy


10/28/21

DBS Vickers

Ascendas India Trust

1.4

1.85

Buy

DDM

11/03/21

DBS Vickers

Ascendas India Trust

1.4

1.8

Buy

PB1.25x

01/27/22

DBS Vickers

Ascendas India Trust

1.38

1.7

Buy

DDM

01/28/22

Jefferies

Ascendas India Trust

1.28

1.65

Buy


03/24/22

Lim & Tan

Ascendas India Trust

1.21

1.6

Buy


04/26/22

DBS Vickers

Ascendas India Trust

1.28

1.7

Buy


07/15/22

DBS Vickers

Ascendas India Trust

1.13

1.7

Buy


07/15/22

Lim & Tan

Ascendas India Trust

1.13

1.51

Buy


08/02/22

DBS Vickers

Ascendas India Trust

1.2

1.7

Buy

DDM

Stock calls for 5 September 2022

Date

Analyst

Company

Last

Target

Call

Valuation

09/05/22

Lim & Tan

Comfortdelgro

1.38

1.75

Buy


09/05/22

Phillip

Koda

0.5

0.5

Neutral

PER5x FY23, Ex-cash

09/05/22

SAC Capital

Koda

0.5

0.64

Buy


09/05/22

UOB Kay Hian

Nanofilm

2.35

2.72

Buy


09/05/22

DMG & Partners

Sheng Siong

1.62

1.78

Buy

PER19x FY22

Sunday, September 4, 2022

US ISM PMI remained at 1 year low in August 2022.

 



The prices subindex had eased to 52.5 (-7.5) because of an easing in supply and logistic disruption (Please see the chart below).


Simultaneously, the supplier deliveries also eased to 55.1 (-0.1) because of the easing in logistics.


The new order increased to 51.3 (+3.3) due to a significant increase in the local new order (+6.5).  However, the new export order had entered a contractionary phase (49.4, -3.2).  Nevertheless, the new order had depleted some customers’ inventories (38.9, -0.6).


The backlog of orders increased to 53 (+1.7) because the production (50.4, -3.1) and fallen and couldn’t keep up with the increase in the new order.  Production fell because the producers cut back on their inventories and raw materials.  The inventories fell to 53.1(-4.1), the import dropped to 52.5(-1.9) and the local raw material declined by an estimated 2.3.  However, the producers increased their employment to 54.2(+4.3) in anticipation of a further increase in production to achieve economies of scale.


In conclusion, the above factors caused the PMI to decline to a 1 year low of 52.8 and would continue its downward trajectory.

Baltic dry index - 1086

Related stock: Sembcorp Marine, Cosco & Pan ocean.

US rig count (weekly) - 805

Related stock: Sembcorp Marine & Cosco.