Micro-Mechanics - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
06/24/20	Lim & Tan	Micro-Mechanics	1.78	0	Buy on weakness
08/31/20	Lim & Tan	Micro-Mechanics	2.07	0	Buy on weakness
09/07/20	Phillip	Micro-Mechanics	2.2	2.5	Buy	PER18x FY21
09/18/20	UOB Kay Hian	Micro-Mechanics	2.28	2.01	Hold	EV/Ebitda9.1x, Buy @ $1.70
10/02/20	Lim & Tan	Micro-Mechanics	2.3	0	Hold
11/02/20	Phillip	Micro-Mechanics	2.66	2.93	Accumulate	PER18x FY21, Ex-cash
02/01/21	Lim & Tan	Micro-Mechanics	3.64	0	Hold
02/02/21	UOB Kay Hian	Micro-Mechanics	3.75	2.87	Sell
02/08/21	Phillip	Micro-Mechanics	3.58	3.35	Neutral	PER21x FY21, Ex-cash

Stock calls for 23 April 2021

Date	Analyst	Company	Last	Target	Call	Valuation
04/23/21	DBS Vickers	AEM	3.98	5.36	Buy
04/23/21	UOB Kay Hian	Aztech	1.34	1.86	Buy
04/23/21	CIMB	Aztech	1.34	1.91	Add	PER16x FY22
04/23/21	DMG & Partners	Comfortdelgro	1.79	2.1	Buy	PER21x FY21
04/23/21	CIMB	ESR-Reit	0.405	0.494	Add	DDM
04/23/21	CIMB	Keppel Corp	5.33	6.4	Add	Sum of parts
04/23/21	UOB Kay Hian	Keppel Corp	5.33	6.37	Buy
04/23/21	DBS Vickers	Keppel Corp	5.33	6.2	Buy
04/23/21	Lim & Tan	Keppel Corp	5.33	0	Accumulate
04/23/21	UOB Kay Hian	Mapletree Logistics	1.97	2.08	Hold
04/23/21	Lim & Tan	Parkway Life	4.21	0	Hold

Why do we need to analyse the ISM for our investments?

I've explained the ISM PMI relationship before.  Please see below.

http://sg-stock.blogspot.com/2019/04/the-us-economy-has-flipped-and-fissures.html

In economic terminology, the process is depicted as follow:

CPI/PPI->M1-M2 spread/3m-10y yield spread->PMI-> GDP

Let's take a look at the chart below.  The chart shows a high correlation between investment and ISM.  Therefore, it is imperative to analyze the ISM PMI to determine the investment trajectory.

Hot news: New covid variant (BV-1) detected in Texas.

https://www.cnbc.com/2021/04/22/new-covid-variant-detected-at-texas-am-lab-shows-signs-of-antibody-resistance-and-more-severe-illness-in-young-people.html

The new variant BV-1 has antibody resistance and also causes more severe illness.

Another bad news is Pfizer scientist has acknowledged that 3rd dose is needed as immunity wanes.  We can't keep on taking more doses when the immunity wanes.  It looks like we need to develop a new vaccine soon.

Let's see if the Pfizer vaccine works on BV-1 or not.

Mermaid - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
07/29/20	Amfrasers	Mermaid	0.07	0.085	Neutral	Sum of parts

Medtecs - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
12/08/20	DBS Vickers	Medtecs	0.905	1.3	Buy	PER9.5x FY21/22
03/03/21	DBS Vickers	Medtecs	0.955	1.25	Buy	PER9.5x FY21/22

Marco Polo - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
08/27/20	UOB Kay Hian	Marco Polo	0.016	0.02	Buy

Stock calls for 22 April 2021

Date	Analyst	Company	Last	Target	Call	Valuation
04/22/21	DBS Vickers	APAC Realty	0.51	0.61	Buy
04/22/21	DBS Vickers	Aztech	1.38	1.85	Buy	PER17.9x FY21
04/22/21	DBS Vickers	Bukit Sembawang	4.67	5.44	Buy
04/22/21	DBS Vickers	City Developments	7.87	10.5	Buy
04/22/21	Macquarie	DBS	28.4	30	Neutral
04/22/21	DMG & Partners	First Resources	1.47	1.7	Buy
04/22/21	Phillip	Keppel DC Reit	2.69	3.2	Accumulate	DDM
04/22/21	OCBC	Keppel DC Reit	2.69	3.32	Buy
04/22/21	DMG & Partners	Keppel Pacific	0.74	0.84	Buy
04/22/21	CIMB	Keppel Reit	1.21	1.29	Add	DDM
04/22/21	UOB Kay Hian	Keppel Reit	1.21	1.49	Buy
04/22/21	Kim Eng	Keppel Reit	1.21	0.95	Sell
04/22/21	Lim & Tan	Keppel Reit	1.21	0	Hold
04/22/21	CIMB	Mapletree Logistics	1.96	2.1	Hold	DDM
04/22/21	Macquarie	OCBC	11.72	13	Outperform
04/22/21	OCBC	Sembcorp Industries	2.18	2.5	Buy
04/22/21	Macquarie	UOB	25.79	29	Outperform
04/22/21	OCBC	UOL	7.87	8.91	Buy