Singtel - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/03/22	UOB Kay Hian	Singtel	2.32	2.75	Buy	DCF
01/12/22	Kim Eng	Singtel	2.42	2.83	Buy
01/24/22	DBS Vickers	Singtel	2.48	3.13	Buy
02/03/22	Lim & Tan	Singtel	2.43	3.11	Accumulate
02/10/22	CIMB	Singtel	2.55	2.9	Buy	Sum of parts
02/10/22	DMG & Partners	Singtel	2.55	3.37	Buy
02/14/22	UOB Kay Hian	Singtel	2.55	2.75	Buy	DCF
02/15/22	DBS Vickers	Singtel	2.55	3.13	Buy
02/16/22	UOB Kay Hian	Singtel	2.57	2.9	Buy
02/17/22	CIMB	Singtel	2.55	3.3	Add
02/17/22	Citi Research	Singtel	2.55	3.56	Buy	Sum of parts (10% discount)
02/17/22	Kim Eng	Singtel	2.55	2.98	Buy
02/17/22	OCBC	Singtel	2.55	2.98	Buy
02/17/22	Phillip	Singtel	2.55	2.86	Accumulate	Sum of parts
03/08/22	Citi Research	Singtel	2.51	3.44	Buy
03/08/22	DMG & Partners	Singtel	2.51	3.37	Buy
03/08/22	Lim & Tan	Singtel	2.51	3.16	Accumulate
03/09/22	UOB Kay Hian	Singtel	2.51	2.9	Buy
03/16/22	Kim Eng	Singtel	2.53	2.98	Buy	Sum of parts
03/29/22	CIMB	Singtel	2.65	3.3	Add	Sum of parts
04/01/22	Lim & Tan	Singtel	2.64	3.16	Accumulate
04/06/22	DMG & Partners	Singtel	2.66	3.37	Buy	Sum of parts
04/08/22	Kim Eng	Singtel	2.66	2.98	Buy	Sum of parts
04/12/22	UOB Kay Hian	Singtel	2.64	2.9	Buy	DCF, EV/Ebitda13x FY23
04/19/22	Lim & Tan	Singtel	2.58	3.15	Accumulate
04/27/22	CIMB	Singtel	2.77	3.3	Add
05/19/22	DBS Vickers	Singtel	2.73	3.13	Buy
05/23/22	CIMB	Singtel	2.69	3.3	Add	Sum of parts
05/27/22	Lim & Tan	Singtel	2.73	0	Buy
05/30/22	UOB Kay Hian	Singtel	2.7	2.9	Buy	DCF
05/30/22	Phillip	Singtel	2.7	3.05	Accumulate
05/30/22	DMG & Partners	Singtel	2.7	3.55	Buy	Sum of parts
05/30/22	Citi Research	Singtel	2.7	3.22	Buy
06/01/22	Kim Eng	Singtel	2.59	3.02	Buy
06/01/22	OCBC	Singtel	2.59	3.06	Buy
06/01/22	CIMB	Singtel	2.59	3.2	Add
06/01/22	DMG & Partners	Singtel	2.59	3.55	Buy
06/01/22	Lim & Tan	Singtel	2.59	0	Buy
06/03/22	DBS Vickers	Singtel	2.59	3.2	Buy	Sum of parts
06/16/22	Lim & Tan	Singtel	2.5	3.2	Accumulate
07/01/22	Lim & Tan	Singtel	2.53	0	Accumulate
07/18/22	UOB Kay Hian	Singtel	2.65	2.9	Buy	DCF
07/19/22	DBS Vickers	Singtel	2.66	3.24	Buy	Sum of parts
07/26/22	DMG & Partners	Singtel	2.62	3.55	Buy	Sum of parts
08/02/22	Lim & Tan	Singtel	2.64	0	Accumulate
08/03/22	DBS Vickers	Singtel	2.63	3.24	Buy
08/19/22	CIMB	Singtel	2.7	3.2	Add	Sum of parts
08/25/22	UOB Kay Hian	Singtel	2.62	2.9	Buy	DCF
08/25/22	DMG & Partners	Singtel	2.62	3.55	Buy	Sum of parts
08/25/22	Lim & Tan	Singtel	2.62	3.15	Accumulate	PB2x
08/29/22	Phillip	Singtel	2.65	3.05	Accumulate	Sum of parts
08/29/22	Kim Eng	Singtel	2.65	3.15	Buy
09/02/22	CIMB	Singtel	2.63	3.2	Add	Sum of parts
09/07/22	DMG & Partners	Singtel	2.67	3.55	Buy	Sum of parts
09/21/22	UOB Kay Hian	Singtel	2.69	2.9	Buy	DCF
09/30/22	Kim Eng	Singtel	2.67	3.15	Buy	Sum of parts
10/07/22	UOB Kay Hian	Singtel	2.52	2.9	Buy	DCF
10/26/22	DMG & Partners	Singtel	2.43	3.55	Buy
10/27/22	Kim Eng	Singtel	2.43	3.15	Buy
10/28/22	DBS Vickers	Singtel	2.41	3.24	Buy
11/07/22	CIMB	Singtel	2.52	3.2	Add	Sum of parts
11/10/22	DBS Vickers	Singtel	2.55	3.24	Buy
11/10/22	Lim & Tan	Singtel	2.55	3.24	Accumulate
11/11/22	UOB Kay Hian	Singtel	2.63	3.15	Buy	DCF
11/11/22	DMG & Partners	Singtel	2.63	3.3	Buy	Sum of parts
11/11/22	CIMB	Singtel	2.63	3	Add
11/11/22	Kim Eng	Singtel	2.63	3.15	Buy
11/14/22	Phillip	Singtel	2.69	3.05	Accumulate	Sum of parts
11/15/22	DBS Vickers	Singtel	2.76	3.15	Buy
12/14/22	UOB Kay Hian	Singtel	2.65	3.02	Buy
12/15/22	Kim Eng	Singtel	2.59	3.15	Buy
12/20/22	DMG & Partners	Singtel	2.6	3.3	Buy
12/22/22	Lim & Tan	Singtel	2.56	0	Accumulate
01/05/23	DMG & Partners	Singtel	2.53	3.3	Buy
02/07/23	DBS Vickers	Singtel	2.55	3.15	Buy
02/09/23	DBS Vickers	Singtel	2.55	3.18	Buy
02/15/23	DMG & Partners	Singtel	2.5	3.3	Buy	Sum of parts
02/16/23	Lim & Tan	Singtel	2.45	0	Buy
02/17/23	UOB Kay Hian	Singtel	2.47	3.15	Buy	DCF
02/17/23	CIMB	Singtel	2.47	3	Add
02/17/23	Kim Eng	Singtel	2.47	3.1	Buy	Sum of parts
02/20/23	Phillip	Singtel	2.45	2.84	Accumulate	Sum of parts
03/17/23	UOB Kay Hian	Singtel	2.38	3.15	Buy	DCF
03/22/23	DMG & Partners	Singtel	2.4	3.3	Buy
04/06/23	CIMB	Singtel	2.52	3	Add	Sum of parts
04/13/23	UOB Kay Hian	Singtel	2.49	3.15	Buy	DCF
04/17/23	DMG & Partners	Singtel	2.5	3.3	Buy
04/28/23	DBS Vickers	Singtel	2.54	3.18	Buy
04/28/23	Citi Research	Singtel	2.54	3.04	Buy

Stock calls for 22 May 2023

Date	Analyst	Company	Last	Target	Call	Valuation
05/22/23	CIMB	City Developments	6.89	8.97	Add	RNAV
05/22/23	UOB Kay Hian	Dairy Farm	3.06	3.72	Buy	PER30x FY23
05/22/23	Lim & Tan	Frencken	0.94	1.1	Accumulate
05/22/23	UOB Kay Hian	Netlink	0.9	1.05	Buy	DCF
05/22/23	phillip	Netlink	0.9	0.87	Neutral	DCF
05/22/23	CIMB	Netlink	0.9	0.95	Add	DDM
05/22/23	Lim & Tan	Netlink	0.9	0.98	Hold
05/22/23	DBS Vickers	SATS	2.7	3.4	Buy

What's happening on the main street recently in May 2023?

Let's take a look at the recent indicators for the main street.

The US consumers are expecting higher inflation (3.2%) over a long-term basis and the consumer sentiment index has declined to 57.7.

Both the professional and retail investors are expecting the stocks to suffer this year.

The trucking rate or fee has dropped to 1.49 in May from its peak of 3.01.  This means that the significant drop in the trucking rate is caused by much weaker consumer spendings.

The trucker's rejection rate continues to drop because the truckers can no longer cherry pick their deliveries.

What do all these indicators mean? All these indicators show that the US economy is slowing down and the current high inflation is sustained by the services and not by physical goods.

Baltic dry index - 1384

 
Related stock: Sembcorp Marine, Cosco & Pan Ocean.

US rig count (weekly) - 720

Related stock: Sembcorp Marine & Cosco.