Stock calls for 9 April 2021

Date	Analyst	Company	Last	Target	Call	Valuation
04/09/21	OCBC	A-Reit	3.08	3.84	Buy
04/09/21	OCBC	Manulife US Reit	0.735	0.82	Buy
04/09/21	DMG & Partners	OCBC	11.81	13.3	Buy
04/09/21	CIMB	SIA Engineering	2.2	2.85	Add	PB2x
04/09/21	JP Morgan	ST Engineering	3.9	4.8	Overweight
04/09/21	UOB Kay Hian	Sunpower	0.87	1.11	Buy	Sum of parts
04/09/21	Lim & Tan	UOB-Kay Hian	1.68	1.95	Accumulate

Hyphens Pharma - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
05/15/20	DMG & Partners	Hyphens Pharma	0.24	0.27	Buy	DCF
07/20/20	Phillip	Hyphens Pharma	0.42	0.435	Accumulate	DCF
08/20/20	Phillip	Hyphens Pharma	0.45	0.495	Accumulate	DCF
11/09/20	Amfrasers	Hyphens Pharma	0.405	0.48	Buy	PER17x FY21
11/16/20	Phillip	Hyphens Pharma	0.345	0.365	Accumulate	DCF
03/08/21	Phillip	Hyphens Pharma	0.31	0.34	Accumulate	DCF

Hutchison Port - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
06/02/20	DBS Vickers	Hutchison Port	0.112	0.12	Hold	DCF
08/06/20	DBS Vickers	Hutchison Port	0.102	0.14	Buy	DCF
09/07/20	DBS Vickers	Hutchison Port	0.106	0.14	Buy
11/03/20	DBS Vickers	Hutchison Port	0.142	0.14	Buy
11/18/20	DBS Vickers	Hutchison Port	0.152	0.22	Buy	DCF
01/06/21	DBS Vickers	Hutchison Port	0.198	0.22	Buy
02/01/21	DBS Vickers	Hutchison Port	0.205	0.27	Buy	DCF
02/09/21	DBS Vickers	Hutchison Port	0.225	0.32	Buy	DCF

HRnetGroup - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
06/25/20	CIMB	HRnetGroup	0.5	0.58	Hold
08/13/20	DBS Vickers	HRnetGroup	0.48	0.5	Hold	PER7.5x FY20, Ex-cash
08/13/20	DMG & Partners	HRnetGroup	0.48	0.52	Neutral	DCF
09/17/20	CIMB	HRnetGroup	0.445	0.523	Add
10/29/20	DMG & Partners	HRnetGroup	0.48	0.52	Buy	DCF
12/09/20	CIMB	HRnetGroup	0.51	0.635	Add	PER13.2x FY22
01/19/21	CIMB	HRnetGroup	0.555	0.635	Add	PER13.2x FY22
03/02/21	CIMB	HRnetGroup	0.58	0.7	Add
03/03/21	DBS Vickers	HRnetGroup	0.585	0.5	Hold
03/05/21	DMG & Partners	HRnetGroup	0.58	0.72	Buy	PER15x FY21

Stock calls for 8 April 2021

Date	Analyst	Company	Last	Target	Call	Valuation
04/08/21	DMG & Partners	AIMS AMP Cap Ind Reit	1.32	1.55	Buy
04/08/21	Phillip	Ix Biopharma	0.255	0.445	Buy	DCF
04/08/21	CIMB	Japfa	0.9	1.18	Add
04/08/21	UOB Kay Hian	Sembcorp Industries	1.95	2.27	Buy	PB

DPM Heng Swee Keat is no longer the next SG PM.

https://www.businesstimes.com.sg/government-economy/heng-swee-keat-no-longer-singapores-next-pm-to-relinquish-finance-portfolio-at

We had already expected this because he didn't have a strong mandate from Singaporeans.

Just take a look at our previous post.

http://sg-stock.blogspot.com/2020/07/the-pm-designate-heng-doesnt-have.html

The peculiarity in South Africa daily infection rates.

WHO had been worrying about South African daily infection rate previously because South Africa (SA) had not started vaccinating its population since last year.  SA only started its vaccination program in mid-February 2021.

https://www.bbc.com/news/56100076

However, the daily infection rates in SA had started to drop since January 2021 and this puzzled many scientists since the way to curb infections was through mass vaccinations.  Anyway, the statistics in SA defied the common scientific logic.

Why? What happened?

https://www.reuters.com/article/uk-health-coronavirus-safrica-idUSKCN2AV1SK

The secret might lie in the SA variant which could provide cross-protection and reduce reinfections.  I think SA has reached the herd immunity level already and the immunity also provides cross-protection.  Thus, the daily infection rate started dropping in January 2021.

Is the US stock market overvalued? - Part 3

 Let's look at 3 indicators to determine the US stock market valuation.

Warren Buffett Indicator

Shiller PE ratio chart

Bank of America Equity Sentiment

The sell indicator (blue line) is approaching the red line which indicates an impending sell signal.

All the aforesaid indicators are showing extreme bullishness in the US stock market!  The indicators are showing that the US stock market is approaching its peak soon.

Hong Leong Asia - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
04/07/21	CIMB	Hong Leong Asia	0.825	1.18	Add	Sum of parts