Stock calls for 23 June 2022

Date	Analyst	Company	Last	Target	Call	Valuation
06/23/22	DMG & Partners	APAC Realty	0.6	0.75	Buy	DCF
06/23/22	UOB Kay Hian	Bumitama	0.67	0.65	Hold
06/23/22	DBS Vickers	Capitaland Integrated Commercial Trust	2.15	2.7	Buy
06/23/22	UOB Kay Hian	First Resources	1.84	1.7	Hold
06/23/22	DBS Vickers	Frasers Centrepoint Trust	2.23	2.9	Buy
06/23/22	CIMB	Japfa	0.57	0.81	Add	Sum of parts
06/23/22	Lim & Tan	SIA Engineering	2.39	2.76	Neutral
06/23/22	UBS	Suntec Reit	1.62	1.52	Sell	DDM, Cut from $1.70
06/23/22	UOB Kay Hian	Wilmar	4.02	5.5	Buy

What will the Fed do in July and September?

The Reuters poll showed that the Fed would up its rates by 75bp in July and 50bp in September.  How valid is the poll outcome?

Let's take a look at Prof. Nouriel Roubini's forecast first.

Let's take a look at the Cleveland Fed's forecast below.  The CPI forecast has not declined at all after the recent 75bp hike.  This shows that the Fed has not managed to tame the high inflation insofar.

 

The latest Fed's dot plot (Fed funds futures) shows that the Fed rate will end at 3.75% by the end of 2022.

All the aforesaid factors show the validity of the Reuters poll outcome.

Frasers Logistics - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
06/23/21	DBS Vickers	Frasers Logistics	1.38	1.85	Buy
06/23/21	UOB Kay Hian	Frasers Logistics	1.38	1.79	Buy	DDM
07/02/21	UOB Kay Hian	Frasers Logistics	1.43	1.79	Buy
08/05/21	DBS Vickers	Frasers Logistics	1.52	1.85	Buy	DCF
08/10/21	UOB Kay Hian	Frasers Logistics	1.52	1.79	Buy	DDM
08/11/21	CIMB	Frasers Logistics	1.53	1.62	Add
08/11/21	OCBC	Frasers Logistics	1.53	1.6	Buy
09/20/21	UOB Kay Hian	Frasers Logistics	1.49	1.79	Buy
10/19/21	OCBC	Frasers Logistics	1.48	1.71	Buy
10/19/21	UOB Kay Hian	Frasers Logistics	1.48	1.79	Buy	DDM
11/11/21	DBS Vickers	Frasers Logistics	1.48	1.85	Buy
11/12/21	UOB Kay Hian	Frasers Logistics	1.52	1.79	Buy	DDM
02/08/22	Lim & Tan	Frasers Logistics	1.39	0	Hold
02/08/22	OCBC	Frasers Logistics	1.39	1.66	Buy
02/09/22	CIMB	Frasers Logistics	1.4	1.56	Add
02/09/22	UOB Kay Hian	Frasers Logistics	1.4	1.79	Buy
03/03/22	OCBC	Frasers Logistics	1.44	1.66	Buy
05/06/22	DBS Vickers	Frasers Logistics	1.45	1.85	Buy
05/09/22	DBS Vickers	Frasers Logistics	1.44	1.75	Buy	DCF
05/09/22	CIMB	Frasers Logistics	1.44	1.56	Add	DDM
05/09/22	Lim & Tan	Frasers Logistics	1.44	1.67	Accumulate on weakness
05/10/22	OCBC	Frasers Logistics	1.45	1.61	Buy
06/14/22	Lim & Tan	Frasers Logistics	1.33	1.58	Accumulate

Frasers Hospitality Trust - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
12/06/21	DBS Vickers	Frasers Hospitality Trust	0.47	0.65	Buy	DCF
01/28/22	DBS Vickers	Frasers Hospitality Trust	0.44	0.65	Buy
01/28/22	Kim Eng	Frasers Hospitality Trust	0.44	0.5	Hold
05/09/22	Kim Eng	Frasers Hospitality Trust	0.66	0.55	Hold
06/13/22	Kim Eng	Frasers Hospitality Trust	0.66	0.7	Accept Offer	Offer @ $0.70
06/14/22	Lim & Tan	Frasers Hospitality Trust	0.69	0.7	Accept Offer	Offer @ $0.70