Capitaland Integrated Commercial Trust - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
05/04/20	Kim Eng	Capitaland Integrated Commercial Trust	1.89	2.4	Buy	DDM
05/04/20	DMG & Partners	Capitaland Integrated Commercial Trust	1.89	2.03	Neutral	DDM
05/06/20	Phillip	Capitaland Integrated Commercial Trust	1.82	2.22	Buy	DDM
05/27/20	UOB Kay Hian	Capitaland Integrated Commercial Trust	1.88	2.6	Buy
05/29/20	DBS Vickers	Capitaland Integrated Commercial Trust	1.93	2.15	Buy	PB1x
06/03/20	DBS Vickers	Capitaland Integrated Commercial Trust	2.13	2.15	Buy
06/08/20	UOB Kay Hian	Capitaland Integrated Commercial Trust	2.12	2.6	Buy
06/23/20	DMG & Partners	Capitaland Integrated Commercial Trust	2	2.03	Neutral
07/02/20	UOB Kay Hian	Capitaland Integrated Commercial Trust	2	2.6	Buy
07/03/20	DBS Vickers	Capitaland Integrated Commercial Trust	2.03	2.4	Buy	DCF, PB1.13x
07/23/20	DMG & Partners	Capitaland Integrated Commercial Trust	2.02	2.03	Neutral	DDM
07/23/20	UOB Kay Hian	Capitaland Integrated Commercial Trust	2.02	2.55	Buy
07/23/20	OCBC	Capitaland Integrated Commercial Trust	2.02	2.29	Buy
07/24/20	Phillip	Capitaland Integrated Commercial Trust	2.03	2.33	Buy	DDM
07/24/20	Kim Eng	Capitaland Integrated Commercial Trust	2.03	2.35	Buy
08/07/20	DBS Vickers	Capitaland Integrated Commercial Trust	1.9	2.4	Buy	DCF
08/19/20	Macquarie	Capitaland Integrated Commercial Trust	1.88	2.45	Outperform	Sum of parts
08/24/20	OCBC	Capitaland Integrated Commercial Trust	1.85	2.29	Buy
09/02/20	DBS Vickers	Capitaland Integrated Commercial Trust	1.99	2.4	Buy	DCF
09/02/20	UOB Kay Hian	Capitaland Integrated Commercial Trust	1.99	2.55	Buy
09/07/20	Kim Eng	Capitaland Integrated Commercial Trust	1.93	2.35	Buy	DDM
09/14/20	Phillip	Capitaland Integrated Commercial Trust	1.97	2.33	Buy
09/14/20	DIR	Capitaland Integrated Commercial Trust	1.97	2.65	Buy
09/24/20	CIMB	Capitaland Integrated Commercial Trust	1.97	2.26	Add
09/30/20	OCBC	Capitaland Integrated Commercial Trust	1.99	2.39	Buy
10/02/20	UOB Kay Hian	Capitaland Integrated Commercial Trust	1.95	2.55	Buy
10/07/20	DBS Vickers	Capitaland Integrated Commercial Trust	1.96	2.4	Buy
10/16/20	OCBC	Capitaland Integrated Commercial Trust	1.94	2.39	Buy
10/19/20	Phillip	Capitaland Integrated Commercial Trust	1.91	2.33	Buy
10/23/20	CIMB	Capitaland Integrated Commercial Trust	1.89	2.13	Add	DDM
10/26/20	UOB Kay Hian	Capitaland Integrated Commercial Trust	1.88	2.35	Buy
10/26/20	DMG & Partners	Capitaland Integrated Commercial Trust	1.88	2.03	Neutral
10/26/20	OCBC	Capitaland Integrated Commercial Trust	1.88	2.35	Buy
10/26/20	Kim Eng	Capitaland Integrated Commercial Trust	1.88	2.35	Buy	DDM
11/18/20	UOB Kay Hian	Capitaland Integrated Commercial Trust	2.02	2.25	Hold	Buy @ $2
11/23/20	Phillip	Capitaland Integrated Commercial Trust	1.98	2.33	Buy
11/30/20	OCBC	Capitaland Integrated Commercial Trust	1.99	2.38	Buy
12/09/20	DBS Vickers	Capitaland Integrated Commercial Trust	2.04	2.5	Buy
12/09/20	JP Morgan	Capitaland Integrated Commercial Trust	2.04	2.3	Overweight
12/16/20	Kim Eng	Capitaland Integrated Commercial Trust	2.15	2.5	Buy	DDM
12/16/20	JP Morgan	Capitaland Integrated Commercial Trust	2.15	2.4	Overweight
01/04/21	DBS Vickers	Capitaland Integrated Commercial Trust	2.16	2.5	Buy	PB1.24x
01/05/21	Kim Eng	Capitaland Integrated Commercial Trust	2.19	2.5	Buy
01/18/21	Phillip	Capitaland Integrated Commercial Trust	2.28	2.33	Buy
01/18/21	Credit Suisse	Capitaland Integrated Commercial Trust	2.28	2.6	Outperform
01/21/21	Lim & Tan	Capitaland Integrated Commercial Trust	2.35	0	Hold
01/21/21	Jefferies	Capitaland Integrated Commercial Trust	2.35	2.55	Buy	DDM
01/22/21	Kim Eng	Capitaland Integrated Commercial Trust	2.3	2.55	Buy
01/22/21	UOB Kay Hian	Capitaland Integrated Commercial Trust	2.3	2.32	Hold	Buy @ $2.12
01/22/21	CIMB	Capitaland Integrated Commercial Trust	2.3	2.56	Add	DDM
01/22/21	DMG & Partners	Capitaland Integrated Commercial Trust	2.3	2.1	Neutral
01/25/21	OCBC	Capitaland Integrated Commercial Trust	2.28	2.6	Buy
02/10/21	DBS Vickers	Capitaland Integrated Commercial Trust	2.15	2.5	Buy
03/08/21	JP Morgan	Capitaland Integrated Commercial Trust	2.1	2.35	Overweight

Stock calls for 17 March 2021

Date	Analyst	Company	Last	Target	Call	Valuation
03/17/21	OCBC	A-Reit	2.97	3.89	Buy
03/17/21	OCBC	Capitaland	3.34	3.79	Buy
03/17/21	CIMB	Capitaland	3.34	3.42	Add
03/17/21	CIMB	Credit Bureau	1.26	1.53	Add	DCF
03/17/21	Amfrasers	CSE Global	0.535	0.61	Outperform
03/17/21	OCBC	DBS	27.9	29.5	Buy
03/17/21	UOB Kay Hian	DBS	27.9	30.3	Buy
03/17/21	OCBC	Frasers Logistics	1.4	1.62	Buy
03/17/21	UOB Kay Hian	Keppel Corp	5.18	6.1	Buy	PB
03/17/21	OCBC	Mapletree Industrial	2.68	3.51	Buy
03/17/21	OCBC	Mapletree North Asia	0.995	1.06	Buy
03/17/21	DBS Vickers	Mapletree North Asia	0.995	1.2	Buy	DCF
03/17/21	DMG & Partners	Prime US Reit	0.81	1	Buy
03/17/21	UOB Kay Hian	Sembcorp Industries	1.82	2	Buy	PB
03/17/21	UOB Kay Hian	Top Glove	1.71	2.06	Buy	Ringgit target $6.30

Food prices have been rising for 9 consecutive months.

http://www.fao.org/worldfoodsituation/foodpricesindex/en/

Looking at these charts, I can't help but think that global inflation will be coming soon because other things like transportation costs (including freight and crude prices) and commodities (including base metals) are rising too.

China retail sales versus USA retail sales.

 USA retail sales: -3% m-o-m

China retail sales: 0.56% m-o-m

As we can see from the US chart, US monthly retail sales would decline without the government's support (dole).  However, China's monthly retail sales had been relatively positive for the past 1 year without the government's dole.

Therefore, China's retail sales are much stronger than the US since the Chinese have a higher savings rate and without government intervention.