Suntec Reit - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/23/19	OCBC	Suntec Reit	1.86	1.83	Hold
01/24/19	DBS Vickers	Suntec Reit	1.87	2.12	Buy	DCF
01/24/19	OCBC	Suntec Reit	1.87	1.84	Hold
01/24/19	DMG & Partners	Suntec Reit	1.87	1.9	Neutral	DDM
01/24/19	Jefferies	Suntec Reit	1.87	1.85	Hold	Up from $1.80
01/28/19	UOB Kay Hian	Suntec Reit	1.93	2.01	Hold	Buy @ $1.83
01/28/19	CIMB	Suntec Reit	1.93	2.06	Add
03/18/19	DMG & Partners	Suntec Reit	1.93	1.9	Neutral
04/02/19	DBS Vickers	Suntec Reit	1.96	2.12	Buy
04/24/19	OCBC	Suntec Reit	1.86	1.84	Hold
04/25/19	OCBC	Suntec Reit	1.89	1.83	Hold	DDM
05/28/19	CIMB	Suntec Reit	1.82	2.06	Add
05/30/19	OCBC	Suntec Reit	1.82	1.99	Hold	Buy @ $1.81
06/20/19	DMG & Partners	Suntec Reit	1.92	1.9	Neutral	DDM
07/02/19	CIMB	Suntec Reit	1.95	2.15	Add	DDM
07/02/19	DBS Vickers	Suntec Reit	1.95	2.2	Buy	DCF
07/04/19	DMG & Partners	Suntec Reit	1.97	1.9	Neutral
07/10/19	UOB Kay Hian	Suntec Reit	1.95	2	Hold	DDM, Buy @ $1.82
07/29/19	DMG & Partners	Suntec Reit	1.92	2.08	Buy	DDM
07/29/19	OCBC	Suntec Reit	1.92	2.07	Hold
07/30/19	UOB Kay Hian	Suntec Reit	1.93	2.02	Hold	Buy @ $1.84
07/30/19	DBS Vickers	Suntec Reit	1.93	2.15	Buy	DCF
08/27/19	UOB Kay Hian	Suntec Reit	1.89	1.96	Hold	Buy @ $1.79
09/11/19	DMG & Partners	Suntec Reit	1.94	2.08	Buy
10/02/19	DMG & Partners	Suntec Reit	1.91	2.08	Buy
10/04/19	DBS Vickers	Suntec Reit	1.9	2.15	Buy
10/24/19	OCBC	Suntec Reit	1.85	2.05	Hold
10/25/19	UOB Kay Hian	Suntec Reit	1.89	1.99	Hold	Buy @ $1.82
12/04/19	DBS Vickers	Suntec Reit	1.83	2.15	Buy
12/10/19	DMG & Partners	Suntec Reit	1.84	2.08	Buy
01/03/20	DMG & Partners	Suntec Reit	1.85	2.08	Buy	DDM
01/24/20	DBS Vickers	Suntec Reit	1.85	2.15	Buy	DCF
01/28/20	OCBC	Suntec Reit	1.86	2.05	Buy
02/25/20	OCBC	Suntec Reit	1.8	2.05	Buy
03/18/20	DBS Vickers	Suntec Reit	1.31	2.15	Buy

Sunpower - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/10/19	UOB Kay Hian	Sunpower	0.385	0.76	Buy	Sum of parts
03/01/19	UOB Kay Hian	Sunpower	0.585	0.88	Buy	Sum of parts
08/16/19	UOB Kay Hian	Sunpower	0.44	0.83	Buy
12/06/19	Amfrasers	Sunpower	0.55	0.91	outperform	Sum of parts
12/16/19	DBS Vickers	Sunpower	0.59	0.81	Buy	DCF
03/02/20	UOB Kay Hian	Sunpower	0.525	0.88	Buy	Sum of parts
03/03/20	DBS Vickers	Sunpower	0.53	0.84	Buy
03/10/20	Amfrasers	Sunpower	0.47	0.91	outperform	Sum of parts

Sunningdale - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
03/01/19	UOB Kay Hian	Sunningdale	1.56	1.3	Hold	PER11x FY19, Buy @ $1.20
03/01/19	Lim & Tan	Sunningdale	1.56	0	Hold
03/05/19	CIMB	Sunningdale	1.4	1.38	Reduce	PB0.69x FY19
04/11/19	Lim & Tan	Sunningdale	1.39	0	Hold
05/07/19	Lim & Tan	Sunningdale	1.35	0	Hold
05/09/19	UOB Kay Hian	Sunningdale	1.32	1.22	Hold	PER11x FY20, Buy @ $1.10
05/09/19	CIMB	Sunningdale	1.32	1.38	Hold	PB0.69x FY19
08/07/19	UOB Kay Hian	Sunningdale	1.28	1.01	Sell
11/08/19	UOB Kay Hian	Sunningdale	1.27	1.13	Hold	PER12.3x FY20, Buy @ $1.05
12/13/19	Lim & Tan	Sunningdale	1.28	0	Buy
12/13/19	CIMB	Sunningdale	1.28	1.14	Reduce
03/02/20	UOB Kay Hian	Sunningdale	1.21	1.06	Hold	Buy @ $1
03/04/20	CIMB	Sunningdale	1.2	1.1	Hold
03/20/20	Lim & Tan	Sunningdale	0.82	0	Buy

Stock calls for 23 March 2020

Date	Analyst	Company	Last	Target	Call	Valuation
03/23/20	DMG & Partners	ISOTeam	0.122	0.24	Buy	DCF, PER8.7x FY20
03/23/20	DBS Vickers	Netlink	0.9	0.95	Buy	DCF
03/23/20	UOB Kay Hian	SIA	6.02	6.6	Hold
03/23/20	DMG & Partners	UOB	18.96	20	Neutral	GGM, PB0.85x FY20

How will China recover from its economic fallout caused by the virus outbreak?

As many countries are in lockdowns to reduce human activities, there will be significant declines in international trading.  Therefore, many countries cannot rely on their exports and tourism to reboot their economies.

Fortunately, China is a big country with a huge population (1.4B people) and its citizens are well-known savers compared to the US.  Therefore, it is very easy to boost its local consumption to reboot its economy compared to the US.  In other words, China is more resilient than the US even though both countries are consumption-led economies.

I believe China will try to stimulate its local consumption soon!

Baltic dry index - 612

Today, Tuesday, March 17 2020, the Baltic Dry Index decreased by 11 points, reaching 612 points.

Baltic Dry Index is compiled by the London-based Baltic Exchange and covers prices for transported cargo such as coal, grain and iron ore. The index is based on a daily survey of agents all over the world. Baltic Dry hit a temporary peak on May 20, 2008, when the index hit 11,793. The lowest level ever reached was on Wednesday the 10th of February 2016, when the index dropped to 290 points.

=======================

Related stock: Sembcorp Marine, Cosco & Pan ocean.

US rig count - 792

Related stock: Keppel Corp, Sembcorp Marine & Cosco.

California Governor: 25.5m Americans will get infected with the virus in 8 weeks.

https://sg.news.yahoo.com/more-half-californians-likely-coronavirus-002641178.html

“We project that roughly 56% of our population – 25.5 million people – will be infected with the virus over an eight-week period,”

This is the projection made by the California Governor.

When 25.5 Americans are going to get infected, do you still think the US stock markets will get a quick recovery soon?

No US monetary and fiscal policy can save the US stock markets. - Part 4

https://finance.yahoo.com/news/fed-announces-more-emergency-moves-160553160.html

We said this already: No US monetary and fiscal policy can save the US stock markets.

http://sg-stock.blogspot.com/2020/03/no-us-monetary-and-fiscal-policy-can_16.html

The US stock markets still plunge after numerous monetary injections and cash handouts.

No investor will dare to invest when there is an even bigger covid-19 outbreak in the offing.  Not only people are losing their jobs and monies, but they are also losing their lives.  This is a very different crisis and will lead to a great recession.

http://sg-stock.blogspot.com/2020/03/50m-americans-could-be-infected-by.html

Will you invest now when the US cases, currently about 20,000, may go up to 200,000 next month?  I think the answer is very obvious.

As long as the US government is not doing the right thing, the US stock markets will have a hard time recovering.

What are the right things to do? Just read our post below!

http://sg-stock.blogspot.com/2020/03/the-us-markets-just-had-dead-cat-bounce.html

The global semiconductor industry will be impacted by the virus outbreak in Japan & South Korea. - Part 2

https://www.channelnewsasia.com/news/business/sk-hynix-warns-of-uncertainty-in-memory-chip-market-fuelled-by-coronavirus-12560010

We had warned about the semiconductor industry in February 2020 below.

http://sg-stock.blogspot.com/2020/02/the-global-semiconductor-industry-will.html

SK Hynix has just warned about the uncertainty in the memory chip market which proves that our
prediction is correct.