Stock calls for 23 February 2022

Date	Analyst	Company	Last	Target	Call	Valuation
02/23/22	DBS Vickers	Aztech	0.915	1.48	Buy
02/23/22	Kim Eng	Aztech	0.915	1.14	Buy
02/23/22	DBS Vickers	CDL Hospitality	1.21	1.4	Buy
02/23/22	DBS Vickers	Delfi	0.75	1.07	Buy
02/23/22	OCBC	Mapletree Commercial	1.85	2.04	Buy
02/23/22	DBS Vickers	OCBC	13.16	14	Buy
02/23/22	Lim & Tan	OCBC	13.16	0	Accumulate on weakness
02/23/22	DBS Vickers	Q&M	0.57	0.8	Buy
02/23/22	DMG & Partners	Raffles Medical	1.23	1.55	Buy	PER40x FY22
02/23/22	OCBC	Raffles Medical	1.23	1.65	Buy
02/23/22	phillip	Raffles Medical	1.23	1.27	Neutral	DCF
02/23/22	UOB Kay Hian	Wilmar	4.62	6	Buy	Sum of parts
02/23/22	DBS Vickers	Wilmar	4.62	6.67	Buy
02/23/22	CIMB	Wilmar	4.62	5.69	Add	Sum of parts, PER15x FY22
02/23/22	Citi Research	Wilmar	4.62	6.08	Buy

US consumer sentiment fell to a 5-month low.

The falls in consumer sentiment and expectations mean that consumers are not confident of their future and will rein in their consumer spending.  Therefore, the US GDP growth will decline as projected.

APTV - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/05/21	Phillip	APTV	0.118	0.15	Buy
03/08/21	Phillip	APTV	0.107	0.15	Buy	EV/Ebitda9x FY21
08/16/21	Phillip	APTV	0.131	0.15	Buy	EV/Ebitda9x FY21
11/16/21	Phillip	APTV	0.138	0.15	Accumulate	EV/Ebitda9x FY21

APAC Realty - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
02/24/21	DMG & Partners	APAC Realty	0.425	0.55	Buy	DCF
02/25/21	DBS Vickers	APAC Realty	0.44	0.61	Buy	PER11.4x FY21
02/25/21	CIMB	APAC Realty	0.44	0.675	Add	DCF
04/22/21	DBS Vickers	APAC Realty	0.51	0.61	Buy
05/14/21	CIMB	APAC Realty	0.49	0.865	Add
05/14/21	DBS Vickers	APAC Realty	0.49	0.74	Buy	PER10x FY21
05/14/21	DMG & Partners	APAC Realty	0.49	0.7	Buy
08/13/21	DBS Vickers	APAC Realty	0.815	1.05	Buy	PER14x FY21
08/13/21	CIMB	APAC Realty	0.815	0.94	Add
08/16/21	CIMB	APAC Realty	0.89	0.96	Add
08/18/21	DMG & Partners	APAC Realty	0.93	0.88	Neutral	PER13x
10/07/21	DBS Vickers	APAC Realty	0.76	1.05	Buy
11/15/21	DBS Vickers	APAC Realty	0.835	0.88	Hold	PER10x
11/16/21	CIMB	APAC Realty	0.835	0.996	Add
11/17/21	DMG & Partners	APAC Realty	0.81	0.9	Neutral
12/17/21	DMG & Partners	APAC Realty	0.685	0.9	Neutral

Aoxin Q&M - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
11/19/21	UOB Kay Hian	Aoxin Q&M	0.27	0.37	Buy	PER16x FY22
01/21/22	UOB Kay Hian	Aoxin Q&M	0.245	0.37	Buy	PER16x FY22

Stock calls for 22 February 2022

Date	Analyst	Company	Last	Target	Call	Valuation
02/22/22	UOB Kay Hian	CDL Hospitality	1.22	1.45	Buy	DDM
02/22/22	DBS Vickers	Elite ComReit	0.675	0.8	Buy
02/22/22	CIMB	Elite ComReit	0.675	0.76	Add	DDM
02/22/22	UOB Kay Hian	Far East Hospitality	0.6	0.76	Buy	DDM
02/22/22	DBS Vickers	Japfa	0.625	0.67	Hold
02/22/22	UOB Kay Hian	Raffles Medical	1.3	1.31	Hold	DCF
02/22/22	DBS Vickers	Raffles Medical	1.3	1.63	Buy
02/22/22	Kim Eng	Raffles Medical	1.3	1.5	Buy	DCF
02/22/22	DBS Vickers	SIA Engineering	2.32	2.65	Buy
02/22/22	Lim & Tan	SIA Engineering	2.32	2.5	Hold
02/22/22	CIMB	SIA Engineering	2.32	2.92	Add
02/22/22	phillip	UOB	32.66	35.7	Buy	GGM, PB1.46x FY22

Amara - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
08/11/21	Lim & Tan	Amara	0.37	0	Accumulate