| Date | Analyst | Company | Last | Target | Call | Valuation |
| 02/21/19 | DBS Vickers | Breadtalk | 0.88 | 0.92 | Hold | Sum of parts |
| 02/21/19 | DMG & Partners | Breadtalk | 0.88 | 0.81 | Neutral | Sum of parts |
| 04/05/19 | DMG & Partners | Breadtalk | 0.87 | 0.81 | Neutral | |
| 05/07/19 | DBS Vickers | Breadtalk | 0.835 | 0.92 | Hold | |
| 05/08/19 | DMG & Partners | Breadtalk | 0.825 | 0.81 | Neutral | Sum of parts |
| 07/02/19 | DMG & Partners | Breadtalk | 0.75 | 0.81 | Neutral | |
| 08/02/19 | DBS Vickers | Breadtalk | 0.715 | 0.77 | Hold | Sum of parts |
| 08/05/19 | DMG & Partners | Breadtalk | 0.69 | 0.71 | Neutral | Sum of parts |
| 09/03/19 | DMG & Partners | Breadtalk | 0.665 | 0.71 | Neutral | |
| 09/04/19 | DMG & Partners | Breadtalk | 0.65 | 0.67 | Neutral | Sum of parts, EV/Ebitda7.64x |
| 09/06/19 | DBS Vickers | Breadtalk | 0.645 | 0.61 | Hold | Sum of parts |
| 12/11/19 | DMG & Partners | Breadtalk | 0.625 | 0.67 | Neutral |
Friday, January 10, 2020
Breadtalk - Stock calls
BRC Asia - Stock calls
| Date | Analyst | Company | Last | Target | Call | Valuation |
| 07/31/19 | UOB Kay Hian | BRC Asia | 1.37 | 1.75 | Buy | PER11.5x FY20 |
| 08/08/19 | UOB Kay Hian | BRC Asia | 1.31 | 1.75 | Buy | PER11.5x FY20 |
| 10/01/19 | UOB Kay Hian | BRC Asia | 1.34 | 1.75 | Buy | |
| 11/18/19 | CIMB | BRC Asia | 1.47 | 1.9 | Add | |
| 11/18/19 | Lim & Tan | BRC Asia | 1.47 | 1.8 | Buy | DCF |
| 11/26/19 | UOB Kay Hian | BRC Asia | 1.49 | 1.75 | Buy | PER11.5x FY20 |
| 01/09/20 | CIMB | BRC Asia | 1.54 | 1.9 | Add |
Boustead - Stock calls
| Date | Analyst | Company | Last | Target | Call | Valuation |
| 09/23/19 | CIMB | Boustead | 0.735 | 1 | Add | Sum of parts |
| 11/25/19 | CIMB | Boustead | 0.765 | 1 | Add | |
| 01/03/20 | CIMB | Boustead | 0.76 | 1 | Add | Sum of parts |
Stock calls for 10 January 2020
| Date | Analyst | Company | Last | Target | Call | Valuation |
| 01/10/20 | DBS Vickers | A-Reit | 3.06 | 3.45 | Buy | DCF |
| 01/10/20 | UOB Kay Hian | SIA | 8.93 | 9.1 | Hold | Sum of parts |
Thursday, January 9, 2020
Biolidics - Stock calls
| Date | Analyst | Company | Last | Target | Call | Valuation |
| 03/27/19 | CIMB | Biolidics | 0.27 | 0.32 | Add | EV/Sales 12x |
Best World - Stock calls
| Date | Analyst | Company | Last | Target | Call | Valuation |
| 02/28/19 | DMG & Partners | Best World | 2.56 | 2.95 | Buy | DCF & PER18x |
| 02/28/19 | CIMB | Best World | 2.56 | 2.43 | Reduce | PER14.9x CY20 |
| 04/05/19 | DMG & Partners | Best World | 2.02 | 2.95 | Buy | |
| 04/16/19 | CLSA | Best World | 1.77 | 1.75 | Sell | Up from $1.29 |
| 04/26/19 | DMG & Partners | Best World | 1.62 | 0 | Cease Coverage | Suspension |
Banyan Tree - Stock calls
| Date | Analyst | Company | Last | Target | Call | Valuation |
| 03/11/19 | phillip | Banyan Tree | 0.57 | 0.76 | Accumulate | Sum of parts, PB0.72x FY19 |
| 05/22/19 | phillip | Banyan Tree | 0.535 | 0.76 | Accumulate | Sum of parts, PB0.7x FY19 |
| 08/16/19 | phillip | Banyan Tree | 0.455 | 0.51 | Accumulate | Sum of parts, PB0.6x FY19 |
Stock calls for 9 January 2020
| Date | Analyst | Company | Last | Target | Call | Valuation |
| 01/09/20 | CIMB | BRC Asia | 1.54 | 1.9 | Add | |
| 01/09/20 | DMG & Partners | Moya Asia | 0.08 | 0.093 | Buy | DCF |
| 01/09/20 | UOB Kay Hian | Unusual | 0.275 | 0.44 | Buy |
The US-Iran attack will not escalate into a full blown war.
Trump declared no casualties on the US bases in Iraq. However, Iran declared 80 Americans were killed by its missiles.
https://economictimes.indiatimes.com/news/defence/iran-says-80-american-killed-in-the-missile-strike-here-is-all-you-should-know-about-the-attack/articleshow/73149977.cms
Does the US death toll matter? No! Why?
This is because the unjustified killing of the Iranian top general results in a strong resistance in the US to wage a war with Iran over Iran's retaliation.
https://www.forbes.com/sites/rachelsandler/2020/01/08/pelosi-announces-vote-to-limit-trumps-war-powers-against-iran/#734016227a2e
Nancy is trying to de-escalate the tension by limiting Trump's power and the US citizens are not supporting a US-Iran war because they do not want to be conscripted to fight an unjustified war. Furthermore, Nancy knows that this is not the time to engage in a war because the US economy is weakening.
https://economictimes.indiatimes.com/news/defence/iran-says-80-american-killed-in-the-missile-strike-here-is-all-you-should-know-about-the-attack/articleshow/73149977.cms
Does the US death toll matter? No! Why?
This is because the unjustified killing of the Iranian top general results in a strong resistance in the US to wage a war with Iran over Iran's retaliation.
https://www.forbes.com/sites/rachelsandler/2020/01/08/pelosi-announces-vote-to-limit-trumps-war-powers-against-iran/#734016227a2e
Nancy is trying to de-escalate the tension by limiting Trump's power and the US citizens are not supporting a US-Iran war because they do not want to be conscripted to fight an unjustified war. Furthermore, Nancy knows that this is not the time to engage in a war because the US economy is weakening.
The upcoming US GDP will be a better number but it is an illusion. Why?
https://www.cnbc.com/2020/01/07/us-trade-deficit-at-43point09b-in-november-vs-43point6b-estimate.html
The most recent US deficit fell to its lowest level under Trump's presidency because of the huge reduction in imports. Being a consumption-led economy (70% of GDP), this doesn't bode well for the US because import is a precursor of local consumption.
Please read our post on China to understand the importance of imports since China is also a consumption-led economy.
http://sg-stock.blogspot.com/2019/12/how-is-chinas-economy-doing.html
The reduction in imports usually signals a future reduction in consumption. Since import is part of the GDP formula, the decline in imports will boost the GDP figure.
Please read our post on the GDP calculation.
http://sg-stock.blogspot.com/2019/11/the-latest-us-gdp-growth-is-not.html
The most recent US deficit fell to its lowest level under Trump's presidency because of the huge reduction in imports. Being a consumption-led economy (70% of GDP), this doesn't bode well for the US because import is a precursor of local consumption.
Please read our post on China to understand the importance of imports since China is also a consumption-led economy.
http://sg-stock.blogspot.com/2019/12/how-is-chinas-economy-doing.html
The reduction in imports usually signals a future reduction in consumption. Since import is part of the GDP formula, the decline in imports will boost the GDP figure.
Please read our post on the GDP calculation.
http://sg-stock.blogspot.com/2019/11/the-latest-us-gdp-growth-is-not.html
Wednesday, January 8, 2020
Avi-Tech - Stock calls
| Date | Analyst | Company | Last | Target | Call | Valuation |
| 01/07/19 | DMG & Partners | Avi-Tech | 0.3 | 0.34 | Neutral | |
| 02/14/19 | DMG & Partners | Avi-Tech | 0.29 | 0.3 | Neutral | DCF |
| 03/19/19 | DMG & Partners | Avi-Tech | 0.29 | 0.3 | Neutral | |
| 07/16/19 | DMG & Partners | Avi-Tech | 0.28 | 0.27 | Neutral | DCF |
| 08/29/19 | Lim & Tan | Avi-Tech | 0.27 | 0 | Buy | |
| 09/10/19 | DMG & Partners | Avi-Tech | 0.31 | 0.31 | Neutral | DCF |
| 10/08/19 | DMG & Partners | Avi-Tech | 0.34 | 0.31 | Neutral | |
| 11/07/19 | DMG & Partners | Avi-Tech | 0.35 | 0.41 | Buy | DCF |
| 12/10/19 | DMG & Partners | Avi-Tech | 0.4 | 0.44 | Buy | DCF |
Ascendas India Trust - Stock calls
| Date | Analyst | Company | Last | Target | Call | Valuation |
| 01/25/19 | Jefferies | Ascendas India Trust | 1.08 | 1.2 | Buy | |
| 01/28/19 | DBS Vickers | Ascendas India Trust | 1.08 | 1.25 | Buy | DDM |
| 02/08/19 | DBS Vickers | Ascendas India Trust | 1.13 | 1.25 | Buy | |
| 04/29/19 | DBS Vickers | Ascendas India Trust | 1.27 | 1.4 | Buy | DDM |
| 07/29/19 | DBS Vickers | Ascendas India Trust | 1.42 | 1.55 | Buy | |
| 10/25/19 | DBS Vickers | Ascendas India Trust | 1.55 | 1.65 | Buy | DDM |
| 12/19/19 | DBS Vickers | Ascendas India Trust | 1.53 | 1.65 | Buy |
Ascendas Hospitality Trust - Stock calls
| Date | Analyst | Company | Last | Target | Call | Valuation |
| 01/30/19 | DBS Vickers | Ascendas Hospitality Trust | 0.835 | 0.98 | Buy | DCF |
| 07/04/19 | DBS Vickers | Ascendas Hospitality Trust | 1.04 | 1.21 | Buy | Pegged to ART |
Stock calls for 8 January 2020
| Date | Analyst | Company | Last | Target | Call | Valuation |
| 01/08/20 | DMG & Partners | Capitaland | 3.84 | 4.2 | Buy | |
| 01/08/20 | DMG & Partners | CDL Hospitality | 1.63 | 1.78 | Buy | |
| 01/08/20 | CIMB | Centurion | 0.44 | 0.61 | Add | DCF |
| 01/08/20 | UOB Kay Hian | CSE Global | 0.56 | 0.7 | Buy | |
| 01/08/20 | DMG & Partners | CSE Global | 0.56 | 0.69 | Buy | |
| 01/08/20 | CIMB | DBS | 26.05 | 28.29 | Add | |
| 01/08/20 | Kim Eng | DBS | 26.05 | 29.92 | Buy | |
| 01/08/20 | DMG & Partners | Fu Yu | 0.255 | 0.27 | Buy | |
| 01/08/20 | DMG & Partners | Keppel Corp | 6.84 | 7.8 | Buy | |
| 01/08/20 | DMG & Partners | Manulife US Reit | 0.99 | 1.1 | Buy | |
| 01/08/20 | CIMB | OCBC | 11 | 11.94 | Hold | |
| 01/08/20 | DMG & Partners | Oxley | 0.375 | 0.43 | Buy | |
| 01/08/20 | DMG & Partners | Sheng Siong | 1.26 | 1.39 | Buy | |
| 01/08/20 | DMG & Partners | ST Engineering | 4.02 | 4.55 | Buy | |
| 01/08/20 | DMG & Partners | Unusual | 0.285 | 0.42 | Buy | |
| 01/08/20 | CIMB | UOB | 26.7 | 29.1 | Add | |
| 01/08/20 | DMG & Partners | UOB | 26.7 | 29.5 | Buy | |
| 01/08/20 | DMG & Partners | Wilmar | 4.29 | 4.75 | Buy |
Iran has retaliated against the US by attacking 2 US bases in Iraq.
https://sg.news.yahoo.com/thousands-prepare-bury-iranian-general-050819484.html
We had stated that Iran would retaliate against the US even though Trump gave a stern warning to Iran that the US would attack 52 targets including cultural sites in Iran if Iran retaliated against the US for the killing of the Iranian top general.
http://sg-stock.blogspot.com/2020/01/the-recession-constellation-is-aligning.html
The ball is in the US court now. The US and Iran would enter into a vicious cycle of retaliation if the US retaliated again. The US had no proper justification to kill the Iranian top general in Iraq in the first place. This unjustified killing had irked and angered the Iraqis and Iranians which prompted the Iraqi parliament to expel the US forces in Iraq.
http://sg-stock.blogspot.com/2020/01/the-truth-behind-us-killing-of-top.html
We had stated that Iran would retaliate against the US even though Trump gave a stern warning to Iran that the US would attack 52 targets including cultural sites in Iran if Iran retaliated against the US for the killing of the Iranian top general.
http://sg-stock.blogspot.com/2020/01/the-recession-constellation-is-aligning.html
The ball is in the US court now. The US and Iran would enter into a vicious cycle of retaliation if the US retaliated again. The US had no proper justification to kill the Iranian top general in Iraq in the first place. This unjustified killing had irked and angered the Iraqis and Iranians which prompted the Iraqi parliament to expel the US forces in Iraq.
http://sg-stock.blogspot.com/2020/01/the-truth-behind-us-killing-of-top.html
Boeing 737 crashed again!
https://news.yahoo.com/ukrainian-airplane-180-aboard-crashes-034030181.html
We had already warned that the Boeing 737 model was a flying coffin on numerous postings.
http://sg-stock.blogspot.com/2019/11/do-not-take-boeing-737-because-it-is.html
We had already warned that the Boeing 737 model was a flying coffin on numerous postings.
http://sg-stock.blogspot.com/2019/11/do-not-take-boeing-737-because-it-is.html
Tuesday, January 7, 2020
ART - Stock calls
| Date | Analyst | Company | Last | Target | Call | Valuation |
| 01/10/19 | OCBC | ART | 1.1 | 1.18 | Buy | |
| 01/10/19 | CIMB | ART | 1.1 | 1.13 | Hold | DDM |
| 01/11/19 | DBS Vickers | ART | 1.11 | 1.25 | Buy | |
| 01/30/19 | OCBC | ART | 1.19 | 1.25 | Buy | |
| 01/30/19 | DBS Vickers | ART | 1.19 | 1.35 | Buy | DCF |
| 03/05/19 | OCBC | ART | 1.14 | 1.25 | Buy | |
| 03/05/19 | CIMB | ART | 1.14 | 1.15 | Hold | |
| 03/29/19 | Lim & Tan | ART | 1.18 | 0 | Hold | BV |
| 04/09/19 | Phillip | ART | 1.18 | 1.36 | Buy | DDM, PB0.94x FY19 |
| 04/12/19 | UOB Kay Hian | ART | 1.2 | 1.46 | Buy | DDM |
| 04/15/19 | OCBC | ART | 1.2 | 1.25 | Hold | |
| 05/02/19 | OCBC | ART | 1.2 | 1.25 | Hold | |
| 05/02/19 | UOB Kay Hian | ART | 1.2 | 1.46 | Buy | |
| 05/03/19 | DBS Vickers | ART | 1.2 | 1.35 | Buy | DCF |
| 05/06/19 | Phillip | ART | 1.21 | 1.36 | Buy | DDM |
| 06/10/19 | UOB Kay Hian | ART | 1.27 | 1.46 | Buy | |
| 06/19/19 | Phillip | ART | 1.31 | 1.36 | Buy | |
| 06/25/19 | OCBC | ART | 1.3 | 1.25 | Hold | |
| 07/04/19 | OCBC | ART | 1.28 | 1.31 | Hold | |
| 07/04/19 | CIMB | ART | 1.28 | 1.15 | Hold | DDM |
| 07/04/19 | UOB Kay Hian | ART | 1.28 | 1.46 | Buy | |
| 07/05/19 | Phillip | ART | 1.31 | 1.36 | Accumulate | DDM |
| 07/31/19 | CIMB | ART | 1.3 | 1.31 | Hold | DDM |
| 07/31/19 | UOB Kay Hian | ART | 1.3 | 1.54 | Buy | |
| 07/31/19 | DBS Vickers | ART | 1.3 | 1.45 | Buy | |
| 08/02/19 | DIR | ART | 1.32 | 1.34 | Outperform | |
| 08/02/19 | Kim Eng | ART | 1.32 | 1.3 | Hold | |
| 08/02/19 | Phillip | ART | 1.32 | 1.36 | Accumulate | DDM |
| 08/27/19 | UOB Kay Hian | ART | 1.3 | 1.54 | Buy | |
| 09/24/19 | Phillip | ART | 1.31 | 1.36 | Accumulate | |
| 10/09/19 | DBS Vickers | ART | 1.32 | 1.45 | Buy | |
| 10/11/19 | Phillip | ART | 1.31 | 1.42 | Accumulate | |
| 10/22/19 | OCBC | ART | 1.37 | 1.31 | Hold | |
| 10/31/19 | UOB Kay Hian | ART | 1.4 | 1.66 | Buy | DDM |
| 11/01/19 | Kim Eng | ART | 1.38 | 1.35 | Hold | DDM |
| 11/04/19 | CIMB | ART | 1.37 | 1.34 | Hold | |
| 11/04/19 | OCBC | ART | 1.37 | 1.41 | Hold | |
| 11/22/19 | UOB Kay Hian | ART | 1.31 | 1.66 | Buy | DDM |
| 11/25/19 | Phillip | ART | 1.32 | 1.36 | Accumulate | |
| 11/25/19 | DBS Vickers | ART | 1.32 | 1.45 | Buy | |
| 12/19/19 | Kim Eng | ART | 1.35 | 1.4 | Hold | DDM |
ARA Hospitality - Stock calls
| Date | Analyst | Company | Last | Target | Call | Valuation |
| 06/18/19 | UOB Kay Hian | ARA Hospitality | 0.87 | 1.15 | Buy | |
| 07/16/19 | UOB Kay Hian | ARA Hospitality | 0.885 | 1.15 | Buy | |
| 08/01/19 | UOB Kay Hian | ARA Hospitality | 0.885 | 1.21 | Buy | DDM |
| 10/02/19 | Amfrasers | ARA Hospitality | 0.87 | 0.96 | Outperform | DDM |
| 11/07/19 | UOB Kay Hian | ARA Hospitality | 0.86 | 1.16 | Buy | DDM |
| 11/07/19 | Amfrasers | ARA Hospitality | 0.86 | 0.99 | Outperform | DDM |
| 12/02/19 | Amfrasers | ARA Hospitality | 0.855 | 0.99 | Outperform | DDM |
APTV - Stock calls
| Date | Analyst | Company | Last | Target | Call | Valuation |
| 03/01/19 | Phillip | APTV | 0.13 | 0.14 | Accumulate | |
| 05/16/19 | Phillip | APTV | 0.178 | 0.16 | Reduce | EV/Ebitda11x |
| 08/19/19 | Phillip | APTV | 0.17 | 0.165 | Neutral | EV/Ebitda9.5x |
| 11/12/19 | Phillip | APTV | 0.171 | 0.165 | Neutral | EV/Ebitda9.5x |
Stock calls for 7 January 2020
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| Date | Analyst | Company | Last | Target | Call | Valuation |
| 01/07/20 | DMG & Partners | ESR-Reit | 0.545 | 0.6 | Buy | DDM |
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