Stock calls for 2 August 2024

Date	Analyst	Company	Last	Target	Call	Valuation
08/02/24	CIMB	Japfa	0.335	0.43	Add	PB
08/02/24	CIMB	Keppel Corp	6.33	8.28	Add	Sum of parts
08/02/24	Lim & Tan	Keppel Corp	6.33	8.23	Accumulate
08/02/24	CIMB	OCBC	14.82	16.7	Add	GGM
08/02/24	Lim & Tan	OCBC	14.82	15.5	Hold
08/02/24	Citi Research	OCBC	14.82	14	Neutral	GGM, PB1.1x FY24
08/02/24	phillip	Sheng Siong	1.53	1.66	Accumulate	PER18x
08/02/24	Kim Eng	SIA	6.24	6.55	Hold
08/02/24	Phillip	SIA	6.24	5.3	Reduce
08/02/24	DBS Vickers	UOB	32.04	34.5	Buy
08/02/24	CIMB	UOB	32.04	36.4	Add	GGM

The latest US ISM PMI was very bad!

The latest PMI was very bad because it showed that local consumption (Est’d -2.1), production (45.9, - 2.6), employment (43.4, -5.9) and inventories (44.5, -0.9) fell simultaneously while the prices rose (52.9, +0.8). This meant that the producers were cutting back on their production because of declining local consumption. This also meant that the US would be facing an economic slowdown in the future and the inflation was unlikely to fall further.

What will the US Fed do for its July meeting? - Part 2

Just as we've expected, the US Fed has held its rates in July 2024 but it has signalled a possible cut in September 2024.

If there is any rebound in US inflation in the next 2 months, the US Fed will continue to hold its rates.

Innotek - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
08/15/23	Lim & Tan	Innotek	0.42	0	Accumulate
03/11/24	Lim & Tan	Innotek	0.445	0	Accumulate
04/12/24	Lim & Tan	Innotek	0.51	0	Accumulate
05/30/24	Lim & Tan	Innotek	0.545	0	Accumulate

Indofood Agri - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
04/08/24	Lim & Tan	Indofood Agri	0.295	0	Accumulate

IHH Healthcare - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
06/01/23	DBS Vickers	IHH Healthcare	1.69	2.2	Buy
07/14/23	UOB Kay Hian	IHH Healthcare	1.64	1.99	Buy	Ringgit $6.80 target price
08/30/23	DBS Vickers	IHH Healthcare	1.75	2.2	Buy
12/04/23	DBS Vickers	IHH Healthcare	1.68	2.2	Buy
12/06/23	UOB Kay Hian	IHH Healthcare	1.67	1.844	Buy	Ringgit $6.40 target price, PER39.7x FY24
12/06/23	CIMB	IHH Healthcare	1.67	2.22	Add	Ringgit $7.70
03/01/24	DBS Vickers	IHH Healthcare	1.77	2.18	Buy	Ringgit $7.60 target price, Sum of parts