First Resources - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
07/05/22	Kim Eng	First Resources	1.62	1.62	Hold
07/12/22	CIMB	First Resources	1.51	2.1	Hold	PER16x FY22
08/11/22	DMG & Partners	First Resources	1.45	1.5	Neutral	Sum of parts, PER8x FY23
08/15/22	DBS Vickers	First Resources	1.53	2.5	Buy
08/15/22	Kim Eng	First Resources	1.53	1.62	Buy
08/17/22	CIMB	First Resources	1.5	1.76	Add	PER11.6x FY23
09/13/22	UOB Kay Hian	First Resources	1.55	2.9	Buy
09/13/22	Kim Eng	First Resources	1.55	1.62	Buy
10/28/22	UOB Kay Hian	First Resources	1.49	1.7	Buy
11/07/22	UOB Kay Hian	First Resources	1.57	1.7	Buy
11/15/22	UOB Kay Hian	First Resources	1.71	1.85	Hold	PER9x FY23
11/15/22	DBS Vickers	First Resources	1.71	2.5	Buy
11/15/22	Kim Eng	First Resources	1.71	1.79	Buy
11/15/22	DMG & Partners	First Resources	1.71	1.75	Neutral	PER8x FY23
12/09/22	Kim Eng	First Resources	1.48	1.79	Buy
02/07/23	UOB Kay Hian	First Resources	1.52	1.85	Buy	PER9x FY23
03/02/23	UOB Kay Hian	First Resources	1.63	1.55	Hold	PER9x FY23
03/02/23	CIMB	First Resources	1.63	1.88	Add
03/02/23	DMG & Partners	First Resources	1.63	1.6	Neutral	PER8x FY23
05/15/23	Kim Eng	First Resources	1.39	1.85	Buy
05/15/23	DMG & Partners	First Resources	1.39	1.2	Sell	PER8x FY23
05/15/23	UOB Kay Hian	First Resources	1.39	1.55	Hold	PER9x FY23
07/12/23	DBS Vickers	First Resources	1.5	2	Buy	DCF
07/18/23	UOB Kay Hian	First Resources	1.47	1.55	Hold	PER9x FY24
07/24/23	DMG & Partners	First Resources	1.48	1.4	Neutral	PER10x FY24
07/26/23	UOB Kay Hian	First Resources	1.57	1.65	Hold
08/14/23	Kim Eng	First Resources	1.54	1.83	Buy
08/17/23	DMG & Partners	First Resources	1.5	1.5	Neutral
09/12/23	Kim Eng	First Resources	1.52	1.83	Buy

First Reit - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
09/22/22	Lim & Tan	First Reit	0.275	0.32	Buy
11/24/22	SAC Capital	First Reit	0.25	0.33	Buy	PB0.8x FY22
04/18/23	SAC Capital	First Reit	0.255	0.3	Buy
04/21/23	OCBC	First Reit	0.26	0.31	Buy	PB1x FY23
04/26/23	OCBC	First Reit	0.255	0.3	Buy
04/26/23	Lim & Tan	First Reit	0.255	0.3	Buy
06/15/23	Lim & Tan	First Reit	0.26	0.3	Buy
06/30/23	DBS Vickers	First Reit	0.26	0.3	Buy
08/01/23	DBS Vickers	First Reit	0.26	0.3	Buy
08/01/23	Lim & Tan	First Reit	0.26	0.3	Buy
09/15/23	Lim & Tan	First Reit	0.225	0.3	Buy

Stock calls for 21 September 2023

Date	Analyst	Company	Last	Target	Call	Valuation
09/21/23	CIMB	Yangzijiang Shipping	1.67	1.96	Add

US Fed had stayed on hold for its rates as expected.

The US Fed had maintained status quo for its rates as expected.  Let's take a look at the latest updates.

The latest Fed dot plot showed that there would be 1 last rate hike in 2023.

The latest SEP table also showed that the PCE inflation would be above 3% in 2023.  Thus, it was unlikely that the FED would reduce its rates in 2023 as the FED wanted to bring the US inflation rate down to 2%.