Stock calls for 14 November 2022

Date	Analyst	Company	Last	Target	Call	Valuation
11/14/22	UOB Kay Hian	Dairy Farm	2.49	2.96	Hold
11/14/22	UOB Kay Hian	Food Empire	0.54	0.78	Buy	PER8.4x FY23
11/14/22	UOB Kay Hian	Frasers Logistics	1.18	1.48	Buy	DDM
11/14/22	Kim Eng	Genting	0.83	0.88	Hold
11/14/22	DBS Vickers	Hongkong Land	4.25	6.14	Buy
11/14/22	DMG & Partners	Ireit	0.51	0.63	Buy	DDM
11/14/22	UOB Kay Hian	Keppel Corp	7.24	10.11	Buy
11/14/22	phillip	Propnex	1.54	2	Neutral
11/14/22	Kim Eng	Propnex	1.54	1.95	Buy
11/14/22	DBS Vickers	Q&M	0.35	0.53	Hold
11/14/22	UOB Kay Hian	Sasseur	0.76	1.12	Buy
11/14/22	UOB Kay Hian	Sembcorp Industries	3.04	4.1	Buy
11/14/22	DBS Vickers	Sembcorp Industries	3.04	3.8	Buy
11/14/22	Lim & Tan	Sembcorp Industries	3.04	4.03	Accumulate
11/14/22	Phillip	Singtel	2.69	3.05	Accumulate	Sum of parts
11/14/22	Phillip	Starhub	1.03	1.15	Accumulate	EV/Ebitda7x FY22
11/14/22	UOB Kay Hian	UMS	1.07	1.37	Buy	PER8.5x FY23
11/14/22	DBS Vickers	UMS	1.07	1.14	Hold	PER9x FY23
11/14/22	Kim Eng	UMS	1.07	1.34	Buy	PER8x FY23
11/14/22	Lim & Tan	UMS	1.07	1.2	Buy
11/14/22	UOB Kay Hian	Yangzijiang	1.38	1.44	Buy
11/14/22	DBS Vickers	Yangzijiang	1.38	1.4	Buy

Recent economic statistics for November 2022.

The ISM PMI index has been dropping in 2022 and it is at a 2-year low now. 

The ISM PMI is expected to continue on its downward trajectory as the US personal saving rate is at its lowest level.

Let's take a look at the US CPI now.

The latest CPI is at 7.7%. We can see from the chart that the CPI is trending down in Q4 2022 because of higher base effects in 2021.  

Where are the inflationary sectors?

The lower CPI of 7.7% is primary caused by used cars.

What's the Fed going to do next?

From the September Dot Plot chart, the Fed will end 2022 with a 4.5% Fed rate.  This means that the Fed will hike by 0.5% in December 2022.

Baltic dry index - 1355

Related stock: Sembcorp Marine, Cosco & Pan ocean.

US rig count (weekly) - 779

Related stock: Sembcorp Marine & Cosco.

Sembcorp Marine - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
06/08/21	Lim & Tan	Sembcorp Marine	0.2	0	Hold
06/25/21	OCBC	Sembcorp Marine	0.191	0.09	Sell	PB0.8x
06/25/21	UOB Kay Hian	Sembcorp Marine	0.191	0.18	Hold
06/29/21	CIMB	Sembcorp Marine	0.133	0.226	Hold
06/29/21	UOB Kay Hian	Sembcorp Marine	0.133	0.124	Hold	Ex-Rights
07/30/21	CIMB	Sembcorp Marine	0.108	0.093	Hold
07/30/21	UOB Kay Hian	Sembcorp Marine	0.108	0.124	Hold	PB0.51x
09/06/21	UOB Kay Hian	Sembcorp Marine	0.086	0.11	Buy	PB0.75x
09/23/21	CIMB	Sembcorp Marine	0.083	0.093	Hold	PB0.7x CY21
09/23/21	DBS Vickers	Sembcorp Marine	0.083	0.095	Hold
10/20/21	DBS Vickers	Sembcorp Marine	0.081	0.1	Hold	PB0.7x
10/20/21	Lim & Tan	Sembcorp Marine	0.081	0	Do not accept
11/12/21	DBS Vickers	Sembcorp Marine	0.082	0.08	Hold
11/12/21	UOB Kay Hian	Sembcorp Marine	0.082	0.11	Buy
12/06/21	UOB Kay Hian	Sembcorp Marine	0.083	0.11	Buy	PB0.74x FY22
01/26/22	UOB Kay Hian	Sembcorp Marine	0.083	0.11	Buy
02/28/22	DBS Vickers	Sembcorp Marine	0.085	0.09	Hold	PB0.7x FY22
02/28/22	UOB Kay Hian	Sembcorp Marine	0.085	0.11	Buy	PB0.88x FY22
03/08/22	CIMB	Sembcorp Marine	0.096	0.09	Hold	PB0.8x FY22
03/14/22	UOB Kay Hian	Sembcorp Marine	0.091	0.11	Buy	PB0.88x FY22
03/16/22	Lim & Tan	Sembcorp Marine	0.086	0.091	Buy
03/23/22	DBS Vickers	Sembcorp Marine	0.093	0.09	Hold
04/14/22	UOB Kay Hian	Sembcorp Marine	0.116	0.13	Buy	PB1x FY22/23
04/28/22	CIMB	Sembcorp Marine	0.131	0.09	Hold
04/28/22	Lim & Tan	Sembcorp Marine	0.131	0	Neutral
04/28/22	UOB Kay Hian	Sembcorp Marine	0.131	0.156	Buy	PB1x FY22/23
04/29/22	OCBC	Sembcorp Marine	0.108	0.11	Sell
05/19/22	UOB Kay Hian	Sembcorp Marine	0.098	0.156	Buy
06/14/22	CIMB	Sembcorp Marine	0.114	0.09	Hold
06/22/22	UOB Kay Hian	Sembcorp Marine	0.111	0.156	Buy
07/04/22	Lim & Tan	Sembcorp Marine	0.107	0.098	Hold
08/15/22	CIMB	Sembcorp Marine	0.111	0.11	Hold
10/05/22	Lim & Tan	Sembcorp Marine	0.109	0.11	Hold
10/28/22	UOB Kay Hian	Sembcorp Marine	0.122	0.156	Buy
10/28/22	CIMB	Sembcorp Marine	0.122	0.19	Add	PB1.6x FY23
10/28/22	Citi Research	Sembcorp Marine	0.122	0.08	Sell
10/28/22	OCBC	Sembcorp Marine	0.122	0.12	Hold