Stock calls for 25 July 2022

Date	Analyst	Company	Last	Target	Call	Valuation
07/25/22	DBS Vickers	Aztech	0.795	1.18	Buy	PER11x FY22
07/25/22	OCBC	Genting	0.81	0.92	Buy
07/25/22	Lim & Tan	Ifast Corp	3.99	5.93	Neutral
07/25/22	Kim Eng	Mapletree Logistics	1.74	2.15	Buy
07/25/22	OCBC	Mapletree Logistics	1.74	1.92	No rating
07/25/22	DBS Vickers	Nanofilm	2.15	3.21	Buy
07/25/22	DMG & Partners	Raffles Medical	1.12	1.5	Buy	DCF
07/25/22	UOB Kay Hian	SATS	3.99	4.2	Buy	DCF
07/25/22	DBS Vickers	SATS	3.99	4.3	Hold	DCF
07/25/22	CIMB	SATS	3.99	4.47	Add	DCF
07/25/22	Lim & Tan	SATS	3.99	4.64	Accumulate
07/25/22	DBS Vickers	UOL	7.34	8.4	Buy	RNAV

Perfect recipe for a global recession?

The ECB had just hiked its rate by 50bp recently to contain its sky-high inflation.

Conversely, the EU PMI had just breached the 50 level which was in the contraction zone. PMI is usually a precursor of future GDP growth.  Please look at our previous explanation below.

http://sg-stock.blogspot.com/2019/04/the-us-economy-has-flipped-and-fissures.html

CPI/PPI --> M1-M2 spread/3m-10y yield spread --> PMI --> GDP

Let's take a look at the US now.

The US will be hiking its rate by 75bp again in July.

The S&P US composite PMI had also entered a contractionary phase recently.

It is NEVER a good idea to raise interest rates when the economy is slowing down.  Therefore, the EU and US have created a perfect recipe for a global recession.

Baltic dry index - 2146

 

Related stock:  Sembcorp Marine, Cosco & Pan ocean.

US rig count (weekly) - 758

 
Related stock: Sembcorp Marine & Cosco.

Netlink - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
06/18/21	UOB Kay Hian	Netlink	0.955	1.08	Buy	DCF
07/05/21	UOB Kay Hian	Netlink	0.955	1.08	Buy	EV/Ebitda
08/10/21	Kim Eng	Netlink	0.975	1.11	Buy
08/24/21	DBS Vickers	Netlink	0.97	1.02	Hold	DCF
08/25/21	CIMB	Netlink	0.97	1.1	Add	DDM
08/25/21	UOB Kay Hian	Netlink	0.97	1.08	Buy	DCF
08/30/21	phillip	Netlink	0.97	1.03	Accumulate	DCF
08/31/21	Kim Eng	Netlink	0.975	1.13	Buy	DDM
10/11/21	CIMB	Netlink	0.99	1.1	Add
11/08/21	CIMB	Netlink	1.01	1.1	Add
11/08/21	phillip	Netlink	1.01	1.03	Accumulate	DCF
11/08/21	UOB Kay Hian	Netlink	1.01	1.08	Hold
01/07/22	Citi Research	Netlink	0.995	0.9	Sell
02/16/22	DBS Vickers	Netlink	0.975	1.02	Hold
02/16/22	Kim Eng	Netlink	0.975	1.13	Buy	DDM
02/16/22	UOB Kay Hian	Netlink	0.975	1.05	Hold	DCF
02/17/22	CIMB	Netlink	0.975	1.1	Add
02/18/22	CIMB	Netlink	0.97	1.06	Add
02/21/22	phillip	Netlink	0.975	0.96	Hold	DCF
03/09/22	UOB Kay Hian	Netlink	0.97	1.05	Hold
03/10/22	DBS Vickers	Netlink	0.965	1.05	Buy	DCF
05/18/22	UOB Kay Hian	Netlink	0.98	1.05	Hold	DCF, EV/Ebitda16x FY23
05/18/22	Lim & Tan	Netlink	0.98	1.02	Hold
05/19/22	DBS Vickers	Netlink	0.99	1.05	Buy
05/19/22	Kim Eng	Netlink	0.99	1.05	Buy
05/23/22	CIMB	Netlink	0.995	1.1	Add
05/26/22	OCBC	Netlink	0.99	1.07	Buy
06/15/22	CIMB	Netlink	0.995	1.1	Add