Sembcorp Industries - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
10/29/20	UOB Kay Hian	Sembcorp Industries	1.61	1.66	Buy
11/24/20	UOB Kay Hian	Sembcorp Industries	1.73	2.02	Buy
12/08/20	Lim & Tan	Sembcorp Industries	1.79	0	Buy on weakness
01/08/21	Lim & Tan	Sembcorp Industries	1.77	0	Neutral
01/25/21	UOB Kay Hian	Sembcorp Industries	1.77	2.02	Buy
02/23/21	Lim & Tan	Sembcorp Industries	1.62	0	Accumulate
02/24/21	CIMB	Sembcorp Industries	1.66	1.97	Add	PB1x CY21
02/24/21	UOB Kay Hian	Sembcorp Industries	1.66	2	Buy
02/24/21	DBS Vickers	Sembcorp Industries	1.66	1.85	Buy
02/25/21	phillip	Sembcorp Industries	1.62	1.77	Accumulate	PB0.85x FY21
03/15/21	CIMB	Sembcorp Industries	1.82	1.97	Add	PB1x CY21
03/17/21	UOB Kay Hian	Sembcorp Industries	1.82	2	Buy	PB
04/08/21	UOB Kay Hian	Sembcorp Industries	1.95	2.27	Buy	PB
04/19/21	HSBC	Sembcorp Industries	1.94	2.61	Buy	Up from $1.68, PB1.3x FY21
04/19/21	Credit Suisse	Sembcorp Industries	1.94	2.4	Outperform	sum of parts, PB1.2x FY21
04/22/21	OCBC	Sembcorp Industries	2.18	2.5	Buy
05/28/21	UOB Kay Hian	Sembcorp Industries	2.15	2.59	Buy	PB1.2x
05/28/21	DBS Vickers	Sembcorp Industries	2.15	2.4	Buy	PB1.2x
05/28/21	CIMB	Sembcorp Industries	2.15	2.43	Add	PER15x
05/31/21	phillip	Sembcorp Industries	2.2	2.07	Neutral	PB1x FY21
06/21/21	UOB Kay Hian	Sembcorp Industries	2.16	2.59	Buy
07/07/21	UOB Kay Hian	Sembcorp Industries	2.18	2.59	Buy
08/02/21	DBS Vickers	Sembcorp Industries	2.09	2.4	Buy	PB1.2x FY21/22
08/02/21	CIMB	Sembcorp Industries	2.09	2.43	Add
08/02/21	Lim & Tan	Sembcorp Industries	2.09	0	Hold
08/10/21	UOB Kay Hian	Sembcorp Industries	2	2.59	Buy
08/10/21	OCBC	Sembcorp Industries	2	2.5	Buy
08/10/21	CIMB	Sembcorp Industries	2	2.51	Add
08/18/21	phillip	Sembcorp Industries	1.97	2.01	Neutral	PB1x FY21
09/27/21	UOB Kay Hian	Sembcorp Industries	1.85	2.59	Buy
09/29/21	CIMB	Sembcorp Industries	1.84	2.51	Add	PER15x CY22
10/20/21	UOB Kay Hian	Sembcorp Industries	1.96	2.59	Buy	PB1.2x

SBS Transit - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
11/17/20	CIMB	SBS Transit	3.1	3.6	Add
02/11/21	CIMB	SBS Transit	2.97	3.6	Add
03/08/21	CIMB	SBS Transit	3.02	3.6	Add
05/11/21	CIMB	SBS Transit	3.06	3.5	Add
08/13/21	CIMB	SBS Transit	3	3.5	Add	PER13.2x CY21
09/02/21	DBS Vickers	SBS Transit	3.03	3.44	Hold	PB1.74x

SATS - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
10/01/20	DBS Vickers	SATS	2.83	3.66	Buy	DCF & PER25x FY22
10/08/20	UOB Kay Hian	SATS	3.11	3.4	Buy
10/28/20	CIMB	SATS	3.14	3	Hold
11/03/20	DBS Vickers	SATS	3.07	3.66	Buy
11/13/20	UOB Kay Hian	SATS	3.6	3.62	Hold	Buy @ $3.30
11/13/20	Citi Research	SATS	3.6	4.1	Buy
11/16/20	OCBC	SATS	3.8	4.31	Buy
11/16/20	CIMB	SATS	3.8	3.27	Hold
11/16/20	DBS Vickers	SATS	3.8	4.02	Buy	DCF & PER25x FY22
11/17/20	DBS Vickers	SATS	3.99	4.5	Buy	DCF & PER25x FY22
11/19/20	phillip	SATS	4.1	4.4	Neutral	PB3.3x
01/04/21	DBS Vickers	SATS	3.98	4.5	Buy
01/04/21	Citi Research	SATS	3.98	4.7	Buy
02/02/21	CIMB	SATS	3.85	4.3	Add	DCF
02/02/21	DBS Vickers	SATS	3.85	4.5	Buy
02/11/21	UOB Kay Hian	SATS	4.09	3.96	Hold	DCF
02/15/21	OCBC	SATS	4.12	4.95	Buy
03/19/21	UOB Kay Hian	SATS	4.56	4.27	Hold	EV/Invested capital basis
05/28/21	CIMB	SATS	3.86	4.3	Add	DCF
05/28/21	UOB Kay Hian	SATS	3.86	4.09	Hold
05/31/21	OCBC	SATS	3.97	4.84	Buy
06/02/21	DBS Vickers	SATS	4.03	4.5	Buy
06/09/21	Lim & Tan	SATS	4.05	0	Hold
06/10/21	UOB Kay Hian	SATS	4.08	4.09	Hold
07/23/21	CIMB	SATS	3.87	4.3	Add	DCF
07/23/21	Lim & Tan	SATS	3.87	0	Hold
07/26/21	OCBC	SATS	3.87	4.8	Buy
09/28/21	DBS Vickers	SATS	4.16	4.5	Buy
09/28/21	OCBC	SATS	4.16	4.8	Buy
10/11/21	Citi Research	SATS	4.17	4.7	Buy
10/18/21	CIMB	SATS	4.35	4.66	Hold
10/25/21	UOB Kay Hian	SATS	4.28	4.09	Hold