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Thursday, July 6, 2023

Frasers Logistics - Stock calls

Date

Analyst

Company

Last

Target

Call

Valuation

08/08/22

DBS Vickers

Frasers Logistics

1.43

1.75

Buy


08/08/22

CIMB

Frasers Logistics

1.43

1.53

Add

DDM

09/08/22

UOB Kay Hian

Frasers Logistics

1.35

1.6

Buy

DDM

09/28/22

UOB Kay Hian

Frasers Logistics

1.25

1.51

Buy

DDM

10/10/22

UOB Kay Hian

Frasers Logistics

1.21

1.51

Buy


11/11/22

DBS Vickers

Frasers Logistics

1.13

1.55

Buy


11/11/22

OCBC

Frasers Logistics

1.13

1.37

Buy


11/14/22

UOB Kay Hian

Frasers Logistics

1.18

1.48

Buy

DDM

12/15/22

DBS Vickers

Frasers Logistics

1.16

1.55

Buy


01/05/23

UOB Kay Hian

Frasers Logistics

1.17

1.48

Buy


01/09/23

UOB Kay Hian

Frasers Logistics

1.17

1.56

Buy

DDM

01/18/23

DBS Vickers

Frasers Logistics

1.2

1.55

Buy


02/02/23

CIMB

Frasers Logistics

1.3

1.55

Add


02/03/23

CIMB

Frasers Logistics

1.3

1.38

Add

DDM

02/23/23

DBS Vickers

Frasers Logistics

1.24

1.55

Buy


04/04/23

UOB Kay Hian

Frasers Logistics

1.31

1.56

Buy


05/05/23

DBS Vickers

Frasers Logistics

1.36

1.55

Buy


05/05/23

CIMB

Frasers Logistics

1.36

1.52

Add

DDM

05/05/23

Lim & Tan

Frasers Logistics

1.36

1.43

Neutral


06/01/23

UOB Kay Hian

Frasers Logistics

1.28

1.56

Buy


06/05/23

DBS Vickers

Frasers Logistics

1.28

1.55

Buy


07/03/23

UOB Kay Hian

Frasers Logistics

1.25

1.56

Buy


Frasers Hospitality Trust - Stock calls

Date

Analyst

Company

Last

Target

Call

Valuation

11/07/22

DBS Vickers

Frasers Hospitality Trust

0.45

0.58

Buy

DCF

02/10/23

Kim Eng

Frasers Hospitality Trust

0.49

0.54

Buy

DDM

04/28/23

DBS Vickers

Frasers Hospitality Trust

0.475

0.58

Buy


Stock calls for 5 July 2023

Date

Analyst

Company

Last

Target

Call

Valuation

07/05/23

Lim & Tan

City Developments

6.77

8.43

Accumulate


07/05/23

UOB Kay Hian

Comfortdelgro

1.18

1.27

Hold

DCF

07/05/23

CIMB

Comfortdelgro

1.18

1.35

Add

PER15.4x FY24

07/05/23

DMG & Partners

Food Empire

1.03

1.39

Buy


07/05/23

Lim & Tan

OCBC

12.35

14

Accumulate


07/05/23

DMG & Partners

OCBC

12.35

13.2

Neutral

GGM, PB1x FY23

07/05/23

phillip

PanUnited

0.4

0.5

Buy

DCF

07/05/23

Amfrasers

Thai Beverage

0.58

0.65

Buy


07/05/23

Lim & Tan

UOL

6.77

7.9

Accumulate


Wednesday, July 5, 2023

The recent US ISM PMI showed that the US would face an impending recession.


The prices subindex had decreased to 41.8 (-2.4) because of weak employment (48.1, -3.3) and production (46.7, -4.4).  The employment and production decreased despite an increase in new order (45.6, +3) and new local order (Est’d +5.7). 


The customers’ inventories were depleted further due to lower production and an increase in new order which caused the backlog orders to increase to 38.7 (+1.2).  The supplier’s delivery of 45.7 (+2.2) showed that supply disruption was no longer an issue.


The producers cut back on their inventories (44, -1.8), employment and production because they believed that the increase in new orders was unsustainable.


In conclusion, the above factors caused the PMI to fall to 46 (-0.9) and the US economy would still enter into a recession by the end of 2023 as the PMI had been in a contractionary (below 50) for 8 months already.