| Date | Analyst | Company | Last | Target | Call | Valuation |
| 07/27/20 | Phillip | A-Reit | 3.48 | 3.63 | Accumlate | DDM |
| 07/27/20 | Kim Eng | AEM | 3.51 | 4.04 | Buy | PB4.8x FY20/21 |
| 07/27/20 | DMG & Partners | Bumitama | 0.495 | 0.6 | Buy | PER13x FY21 |
| 07/27/20 | Phillip | CapitaCommercial | 1.72 | 1.909 | Accumlate | DDM |
| 07/27/20 | UOB Kay Hian | Elite ComReit | 0.695 | 0.88 | Buy | DDM |
| 07/27/20 | DMG & Partners | First Resources | 1.39 | 1.45 | Neutral | PER14x FY21 |
| 07/27/20 | Phillip | Frasers Centrepoint Trust | 2.39 | 2.69 | Accumlate | DDM |
| 07/27/20 | UOB Kay Hian | Frasers Centrepoint Trust | 2.39 | 2.9 | Buy | DDM |
| 07/27/20 | DMG & Partners | Frasers Centrepoint Trust | 2.39 | 2.16 | Neutral | DDM |
| 07/27/20 | CIMB | Frasers Centrepoint Trust | 2.39 | 2.78 | Add | |
| 07/27/20 | Kim Eng | Frasers Centrepoint Trust | 2.39 | 2.45 | Hold | |
| 07/27/20 | Lim & Tan | Keppel Corp | 5.71 | 0 | Buy on weakness | |
| 07/27/20 | UOB Kay Hian | Mapletree Commercial | 1.88 | 2.35 | Buy | |
| 07/27/20 | Kim Eng | Mapletree Industrial | 3.16 | 3.3 | Buy | |
| 07/27/20 | Lim & Tan | OUE Commercial | 0.395 | 0 | Buy on weakness | |
| 07/27/20 | OCBC | Suntec Reit | 1.39 | 1.57 | Buy |
Monday, July 27, 2020
Stock calls for 27 July 2020
Another constellation is aligning and a big financial crisis is brewing this time. - Part 6
https://www.nytimes.com/2020/07/25/us/hanna-storm-texas.html
The US typhoon season has started and will last till November 2020. We did this to ourselves because we created global warming which changed the climate. Serious floodings have occurred in China, Japan, India, Nepal. South Korea and Russia. I expect the US to suffer the same fate too. All these will cause high food inflation as farms are being destroyed.
We did warn you that the financial crisis constellation is aligning below.
http://sg-stock.blogspot.com/2020/07/another-constellation-is-aligning-and_75.html
With a stronger US typhoon season this year and the COVID outbreak, the financial tsunami will become inevitable due to the double whammy. It is a matter of when and not if now.
Sit tight and brace yourself this time! Remember that we warned you much earlier than others.
The US typhoon season has started and will last till November 2020. We did this to ourselves because we created global warming which changed the climate. Serious floodings have occurred in China, Japan, India, Nepal. South Korea and Russia. I expect the US to suffer the same fate too. All these will cause high food inflation as farms are being destroyed.
http://sg-stock.blogspot.com/2020/07/another-constellation-is-aligning-and_75.html
With a stronger US typhoon season this year and the COVID outbreak, the financial tsunami will become inevitable due to the double whammy. It is a matter of when and not if now.
Sit tight and brace yourself this time! Remember that we warned you much earlier than others.
Saturday, July 25, 2020
Baltic dry index - 1317
Today, Friday, July 24 2020, the Baltic Dry Index decreased by 71 points, reaching 1317 points.
Baltic Dry Index is compiled by the London-based Baltic Exchange and covers prices for transported cargo such as coal, grain and iron ore. The index is based on a daily survey of agents all over the world. Baltic Dry hit a temporary peak on May 20, 2008, when the index hit 11,793. The lowest level ever reached was on Wednesday the 10th of February 2016, when the index dropped to 290 points.
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Related stock: Sembcorp Marine, Cosco & Pan ocean.
Friday, July 24, 2020
Frencken - Stock calls
| Date | Analyst | Company | Last | Target | Call | Valuation |
| 08/13/19 | DBS Vickers | Frencken | 0.66 | 0.8 | Buy | |
| 08/13/19 | CIMB | Frencken | 0.66 | 0.9 | Add | |
| 08/13/19 | DMG & Partners | Frencken | 0.66 | 0.82 | Buy | DCF |
| 08/13/19 | DBS Vickers | Frencken | 0.66 | 0.8 | Buy | PER8.5x |
| 08/22/19 | CIMB | Frencken | 0.73 | 0.95 | Add | |
| 08/22/19 | Amfrasers | Frencken | 0.73 | 0.81 | Neutral | PER10x FY20 |
| 09/11/19 | Amfrasers | Frencken | 0.675 | 0.81 | outperform | PER10x FY20 |
| 10/08/19 | DMG & Partners | Frencken | 0.675 | 0.82 | Buy | |
| 11/07/19 | CIMB | Frencken | 0.72 | 0.94 | Add | PER10x FY20 |
| 11/07/19 | Amfrasers | Frencken | 0.72 | 0.93 | outperform | PER10x FY20 |
| 11/07/19 | DBS Vickers | Frencken | 0.72 | 0.95 | Buy | PER9x FY20 |
| 11/11/19 | DMG & Partners | Frencken | 0.76 | 0.82 | Buy | DCF |
| 11/18/19 | Amfrasers | Frencken | 0.92 | 0.93 | Neutral | PER10x FY20 |
| 11/29/19 | DBS Vickers | Frencken | 0.905 | 1.06 | Buy | PER10x FY20 |
| 12/02/19 | Amfrasers | Frencken | 0.89 | 0.93 | outperform | PER10x FY20 |
| 12/10/19 | DMG & Partners | Frencken | 0.94 | 0.92 | Neutral | DCF |
| 01/24/20 | DBS Vickers | Frencken | 0.91 | 1.06 | Buy | PER10x FY20 |
| 02/28/20 | DBS Vickers | Frencken | 0.865 | 1.06 | Buy | PER10x FY20 |
| 02/28/20 | Amfrasers | Frencken | 0.865 | 1.01 | outperform | |
| 03/02/20 | CIMB | Frencken | 0.83 | 1.06 | Add | |
| 03/09/20 | DMG & Partners | Frencken | 0.83 | 1.05 | Buy | DCF |
| 03/10/20 | Amfrasers | Frencken | 0.75 | 1.01 | outperform | PER10x FY20 |
| 04/02/20 | DBS Vickers | Frencken | 0.565 | 0.74 | Buy | |
| 04/15/20 | DMG & Partners | Frencken | 0.71 | 0.9 | Buy | DCF |
| 05/15/20 | DBS Vickers | Frencken | 0.82 | 0.92 | Buy | PER10.4x FY20 |
| 06/02/20 | Amfrasers | Frencken | 0.81 | 1.01 | outperform | PER10x FY20 |
| 06/22/20 | UOB Kay Hian | Frencken | 0.86 | 1.15 | Buy | |
| 07/01/20 | DBS Vickers | Frencken | 0.88 | 1.02 | Buy | PER10.4x FY21 |
| 07/03/20 | DMG & Partners | Frencken | 0.91 | 0.9 | Buy | |
| 07/13/20 | Kim Eng | Frencken | 0.915 | 1.2 | Buy | Roe-g/Coe-g, PB1.6x FY20 |
Frasers Property - Stock calls
| Date | Analyst | Company | Last | Target | Call | Valuation |
| 11/18/19 | DBS Vickers | Frasers Property | 1.82 | 2.05 | Buy | RNAV (40% discount) |
| 05/14/20 | DBS Vickers | Frasers Property | 1.19 | 1.7 | Buy | RNAV (50% discount) |
| 05/14/20 | CIMB | Frasers Property | 1.19 | 1.7 | Add | RNAV (45% discount) |
Frasers Logistics - Stock calls
| Date | Analyst | Company | Last | Target | Call | Valuation |
| 07/04/19 | OCBC | Frasers Logistics | 1.23 | 1.2 | Hold | |
| 07/04/19 | Lim & Tan | Frasers Logistics | 1.23 | 0 | Hold | |
| 07/04/19 | CIMB | Frasers Logistics | 1.23 | 1.25 | Hold | |
| 08/21/19 | CIMB | Frasers Logistics | 1.2 | 1.27 | Add | |
| 08/21/19 | OCBC | Frasers Logistics | 1.2 | 1.22 | Hold | |
| 11/06/19 | Lim & Tan | Frasers Logistics | 1.25 | 0 | Hold | |
| 11/07/19 | OCBC | Frasers Logistics | 1.26 | 1.28 | Hold | |
| 11/07/19 | DBS Vickers | Frasers Logistics | 1.26 | 1.4 | Buy | DCF |
| 11/07/19 | CIMB | Frasers Logistics | 1.26 | 1.31 | Add | |
| 12/03/19 | CIMB | Frasers Logistics | 1.24 | 1.31 | Add | |
| 02/10/20 | OCBC | Frasers Logistics | 1.27 | 1.37 | Hold | |
| 02/10/20 | CIMB | Frasers Logistics | 1.27 | 1.32 | Add | |
| 05/04/20 | CIMB | Frasers Logistics | 1.06 | 1.3 | Add | |
| 06/02/20 | DBS Vickers | Frasers Logistics | 1.15 | 1.4 | Buy | |
| 07/03/20 | DBS Vickers | Frasers Logistics | 1.21 | 1.4 | Buy | |
| 07/14/20 | CIMB | Frasers Logistics | 1.23 | 1.43 | Add | DDM |
Stock calls for 24 July 2020
| Date | Analyst | Company | Last | Target | Call | Valuation |
| 07/24/20 | CIMB | A-Reit | 3.43 | 3.12 | Hold | |
| 07/24/20 | Jefferies | A-Reit | 3.43 | 3.8 | Buy | |
| 07/24/20 | DBS Vickers | A-Reit | 3.43 | 4 | Buy | DCF |
| 07/24/20 | Kim Eng | A-Reit | 3.43 | 3.7 | Buy | DDM |
| 07/24/20 | OCBC | A-Reit | 3.43 | 3.92 | Buy | |
| 07/24/20 | UOB Kay Hian | A-Reit | 3.43 | 3.65 | Buy | |
| 07/24/20 | Amfrasers | AEM | 3.68 | 4.24 | Outperform | |
| 07/24/20 | DBS Vickers | AIMS AMP Cap Ind Reit | 1.23 | 1.4 | Buy | DCF |
| 07/24/20 | CIMB | CapitaCommercial | 1.76 | 1.98 | Add | DDM |
| 07/24/20 | UOB Kay Hian | CapitaCommercial | 1.76 | 1.66 | Hold | Buy @ $1.50 |
| 07/24/20 | Phillip | Capitamall Trust | 2.03 | 2.33 | Buy | DDM |
| 07/24/20 | Kim Eng | Capitamall Trust | 2.03 | 2.35 | Buy | |
| 07/24/20 | CIMB | Elite ComReit | 0.695 | 0.761 | Add | DDM |
| 07/24/20 | DBS Vickers | Ifast Corp | 1.74 | 2.35 | Buy | DDM |
| 07/24/20 | DMG & Partners | Keppel Pacific | 0.715 | 0.8 | Buy | DDM |
The latest US unemployment data is a fudge. - Part 3
https://www.channelnewsasia.com/news/business/covid-19-us-jobless-claims-rise-to-1-42-million-amid-surge-12958166
We had stated in June 2020 that the US unemployment figure was fudged by the US government and this jobless claim had proven us right.
http://sg-stock.blogspot.com/2020/06/the-latest-us-unemployment-data-is.html
We had stated in June 2020 that the US unemployment figure was fudged by the US government and this jobless claim had proven us right.
http://sg-stock.blogspot.com/2020/06/the-latest-us-unemployment-data-is.html
What’s my take on the possible US-China military confrontation?
Trump has increased the US-China tension recently by expelling China consulate in Houston after the US military exercise in South China Sea. Consequently, China will retaliate by expelling one US consulate in China too.
As for the US-China military confrontation, I think it is unlikely to happen after observing the recent US military exercise. Why? This was because the US military exercise excluded the military scenario of China using its DF missiles against the US. This should be a compulsory military scenario because the DF missiles can destroy a US carrier and also the military base in Guam.
I anticipate that China will be using DF21D and DF17 to destroy the US aircraft carriers and destroyers to make the US stay away from South China Sea while DF26 will be used to destroy the military base in Guam. The latest US military exercise excluded all these scenarios because the US was still conducting the military exercise in South China Sea. The US military exercise only proved to be a farce without any real intention to have a military confrontation with China. Trump is truly a showman!
The latest Pentagon simulations also showed that the US would lose the war in South China Sea.
If the US insists on going to a war with China, this war will end once China sinks a US aircraft carrier because this will make the other aircraft carrier stay away from South China Sea. In a nutshell, China will try to end this war by sinking a US aircraft carrier rather than to destroy the military base in Guam so that the war won’t escalate further since both countries have nuclear weapons.
Thursday, July 23, 2020
Frasers Hospitality Trust - Stock calls
| Date | Analyst | Company | Last | Target | Call | Valuation |
| 07/12/19 | DBS Vickers | Frasers Hospitality Trust | 0.72 | 0.77 | Hold | DCF |
| 10/09/19 | DBS Vickers | Frasers Hospitality Trust | 0.715 | 0.77 | Hold | |
| 10/31/19 | DBS Vickers | Frasers Hospitality Trust | 0.735 | 0.78 | Hold | DCF |
| 11/01/19 | Kim Eng | Frasers Hospitality Trust | 0.735 | 0.8 | Buy | DDM |
| 01/28/20 | DBS Vickers | Frasers Hospitality Trust | 0.715 | 0.78 | Hold | DCF |
| 02/17/20 | Kim Eng | Frasers Hospitality Trust | 0.69 | 0.8 | Buy | |
| 04/21/20 | DBS Vickers | Frasers Hospitality Trust | 0.5 | 0.65 | Buy | |
| 05/12/20 | DBS Vickers | Frasers Hospitality Trust | 0.475 | 0.65 | Buy | PB0.9x |
| 07/17/20 | UOB Kay Hian | Frasers Hospitality Trust | 0.47 | 0.58 | Buy | DDM |
Frasers Commercial Trust - Stock calls
| Date | Analyst | Company | Last | Target | Call | Valuation |
| 07/04/19 | DMG & Partners | Frasers Commercial Trust | 1.68 | 1.65 | Neutral | |
| 07/12/19 | DBS Vickers | Frasers Commercial Trust | 1.65 | 1.7 | Hold | DCF |
| 07/22/19 | OCBC | Frasers Commercial Trust | 1.64 | 1.7 | Hold | |
| 10/04/19 | DBS Vickers | Frasers Commercial Trust | 1.6 | 1.7 | Hold | DCF |
| 10/23/19 | DMG & Partners | Frasers Commercial Trust | 1.64 | 1.65 | Neutral | DDM |
| 10/24/19 | OCBC | Frasers Commercial Trust | 1.65 | 1.76 | Hold | |
| 10/24/19 | CIMB | Frasers Commercial Trust | 1.65 | 1.71 | Add | DDM |
| 12/03/19 | DMG & Partners | Frasers Commercial Trust | 1.71 | 1.68 | Take Profit | PB1.05x |
| 12/03/19 | CIMB | Frasers Commercial Trust | 1.71 | 1.71 | Add |
Frasers Centrepoint Trust - Stock calls
| Date | Analyst | Company | Last | Target | Call | Valuation |
| 07/04/19 | DMG & Partners | Frasers Centrepoint Trust | 2.64 | 2.25 | Neutral | |
| 07/12/19 | DBS Vickers | Frasers Centrepoint Trust | 2.64 | 2.95 | Buy | |
| 07/16/19 | UOB Kay Hian | Frasers Centrepoint Trust | 2.62 | 2.72 | Buy | |
| 07/22/19 | Phillip | Frasers Centrepoint Trust | 2.65 | 2.36 | Neutral | |
| 07/24/19 | UOB Kay Hian | Frasers Centrepoint Trust | 2.65 | 2.66 | Hold | DDM, Buy @ $2.42 |
| 07/24/19 | Kim Eng | Frasers Centrepoint Trust | 2.65 | 2.8 | Buy | DDM |
| 07/24/19 | OCBC | Frasers Centrepoint Trust | 2.65 | 2.69 | Hold | |
| 07/24/19 | CIMB | Frasers Centrepoint Trust | 2.65 | 2.79 | Add | DDM |
| 07/24/19 | Lim & Tan | Frasers Centrepoint Trust | 2.65 | 0 | Hold | |
| 07/26/19 | Amfrasers | Frasers Centrepoint Trust | 2.63 | 2.51 | Neutral | |
| 07/29/19 | Phillip | Frasers Centrepoint Trust | 2.68 | 2.77 | Accumulate | DDM |
| 08/22/19 | CIMB | Frasers Centrepoint Trust | 2.68 | 2.79 | Add | |
| 08/26/19 | Phillip | Frasers Centrepoint Trust | 2.68 | 2.77 | Accumulate | |
| 08/30/19 | CIMB | Frasers Centrepoint Trust | 2.74 | 2.9 | Add | DDM |
| 08/30/19 | DMG & Partners | Frasers Centrepoint Trust | 2.74 | 2.55 | Neutral | DDM |
| 09/19/19 | Kim Eng | Frasers Centrepoint Trust | 2.7 | 2.8 | Buy | |
| 09/24/19 | Phillip | Frasers Centrepoint Trust | 2.71 | 2.77 | Accumulate | |
| 10/02/19 | DBS Vickers | Frasers Centrepoint Trust | 2.7 | 2.95 | Buy | |
| 10/18/19 | Phillip | Frasers Centrepoint Trust | 2.77 | 2.77 | Accumulate | |
| 10/24/19 | DMG & Partners | Frasers Centrepoint Trust | 2.72 | 2.55 | Neutral | DDM |
| 10/24/19 | OCBC | Frasers Centrepoint Trust | 2.72 | 2.75 | Hold | |
| 10/24/19 | UOB Kay Hian | Frasers Centrepoint Trust | 2.72 | 3.05 | Buy | |
| 10/24/19 | Lim & Tan | Frasers Centrepoint Trust | 2.72 | 0 | Hold | |
| 10/25/19 | Phillip | Frasers Centrepoint Trust | 2.75 | 3.11 | Accumulate | DDM |
| 11/18/19 | Citibank | Frasers Centrepoint Trust | 2.72 | 3 | Buy | |
| 11/25/19 | Phillip | Frasers Centrepoint Trust | 2.76 | 3.11 | Accumulate | |
| 11/25/19 | CIMB | Frasers Centrepoint Trust | 2.76 | 2.89 | Add | |
| 12/10/19 | DMG & Partners | Frasers Centrepoint Trust | 2.74 | 2.55 | Neutral | |
| 12/16/19 | Phillip | Frasers Centrepoint Trust | 2.67 | 3.11 | Buy | |
| 12/19/19 | DBS Vickers | Frasers Centrepoint Trust | 2.7 | 2.95 | Buy | |
| 01/23/20 | Kim Eng | Frasers Centrepoint Trust | 2.8 | 2.85 | Hold | DDM |
| 01/23/20 | Lim & Tan | Frasers Centrepoint Trust | 2.8 | 0 | Hold | |
| 01/23/20 | UOB Kay Hian | Frasers Centrepoint Trust | 2.8 | 3.05 | Buy | |
| 01/24/20 | DBS Vickers | Frasers Centrepoint Trust | 2.86 | 2.95 | Buy | |
| 01/29/20 | Phillip | Frasers Centrepoint Trust | 2.86 | 3.11 | Accumulate | DDM |
| 02/03/20 | OCBC | Frasers Centrepoint Trust | 2.88 | 2.93 | Hold | |
| 02/04/20 | DBS Vickers | Frasers Centrepoint Trust | 2.84 | 2.95 | Buy | |
| 03/09/20 | DBS Vickers | Frasers Centrepoint Trust | 2.97 | 3.35 | Buy | |
| 03/13/20 | Phillip | Frasers Centrepoint Trust | 2.73 | 3.11 | Accumulate | |
| 03/16/20 | OCBC | Frasers Centrepoint Trust | 2.56 | 3.07 | Buy | |
| 03/31/20 | CIMB | Frasers Centrepoint Trust | 2.18 | 3.1 | Add | |
| 04/02/20 | DBS Vickers | Frasers Centrepoint Trust | 2.1 | 2.05 | Hold | |
| 04/14/20 | OCBC | Frasers Centrepoint Trust | 1.93 | 2.23 | Buy | |
| 04/23/20 | DMG & Partners | Frasers Centrepoint Trust | 2.1 | 2.55 | Neutral | |
| 04/24/20 | UOB Kay Hian | Frasers Centrepoint Trust | 2.06 | 2 | Hold | Buy @ $1.82 |
| 04/27/20 | Phillip | Frasers Centrepoint Trust | 1.98 | 2.24 | Accumulate | |
| 04/27/20 | DMG & Partners | Frasers Centrepoint Trust | 1.98 | 2.07 | Neutral | DDM |
| 04/27/20 | Kim Eng | Frasers Centrepoint Trust | 1.98 | 2.3 | Buy | DDM |
| 05/11/20 | Amfrasers | Frasers Centrepoint Trust | 2.08 | 2.39 | outperform | |
| 05/27/20 | UOB Kay Hian | Frasers Centrepoint Trust | 2.25 | 2.85 | Buy | |
| 06/01/20 | DBS Vickers | Frasers Centrepoint Trust | 2.43 | 2.65 | Buy | PB1.2x |
| 06/08/20 | UOB Kay Hian | Frasers Centrepoint Trust | 2.58 | 2.85 | Buy | |
| 06/23/20 | DMG & Partners | Frasers Centrepoint Trust | 2.39 | 2.07 | Neutral | |
| 07/01/20 | CIMB | Frasers Centrepoint Trust | 2.31 | 2.49 | Add | DDM |
| 07/02/20 | DBS Vickers | Frasers Centrepoint Trust | 2.32 | 2.95 | Buy | Sum of parts, PB1.45x |
| 07/02/20 | UOB Kay Hian | Frasers Centrepoint Trust | 2.32 | 2.85 | Buy | |
| 07/03/20 | DBS Vickers | Frasers Centrepoint Trust | 2.34 | 2.95 | Buy |
Stock calls for 23 July 2020
| Date | Analyst | Company | Last | Target | Call | Valuation |
| 07/23/20 | Lim & Tan | CapitaCommercial | 1.76 | 0 | Hold | |
| 07/23/20 | DMG & Partners | Capitamall Trust | 2.02 | 2.03 | Neutral | DDM |
| 07/23/20 | UOB Kay Hian | Capitamall Trust | 2.02 | 2.55 | Buy | |
| 07/23/20 | OCBC | Capitamall Trust | 2.02 | 2.29 | Buy | |
| 07/23/20 | Kim Eng | Genting | 0.77 | 0.8 | Hold | DCF |
| 07/23/20 | DBS Vickers | Keppel Infrastructure | 0.535 | 0.57 | Buy | DDM |
| 07/23/20 | Lim & Tan | Keppel Infrastructure | 0.535 | 0 | Hold | |
| 07/23/20 | UOB Kay Hian | Mapletree Industrial | 2.97 | 3.1 | Buy |
Wednesday, July 22, 2020
Food Empire - Stock calls
| Date | Analyst | Company | Last | Target | Call | Valuation |
| 08/13/19 | DMG & Partners | Food Empire | 0.525 | 0.73 | Buy | PER13x FY19 |
| 11/12/19 | DMG & Partners | Food Empire | 0.54 | 0.73 | Buy | |
| 11/21/19 | DMG & Partners | Food Empire | 0.6 | 0.83 | Buy | PER12x FY20 |
| 12/11/19 | DMG & Partners | Food Empire | 0.6 | 0.73 | Buy | |
| 01/17/20 | DMG & Partners | Food Empire | 0.705 | 0.83 | Buy | PER12x FY20 |
| 02/05/20 | UOB Kay Hian | Food Empire | 0.66 | 0.89 | Buy | |
| 02/26/20 | DMG & Partners | Food Empire | 0.735 | 0.88 | Buy | PER12x FY20 |
| 02/26/20 | UOB Kay Hian | Food Empire | 0.735 | 0.92 | Buy | PER12.6x FY20 |
| 05/14/20 | DMG & Partners | Food Empire | 0.505 | 0.75 | Buy | PER12x FY20 |
| 05/15/20 | UOB Kay Hian | Food Empire | 0.49 | 0.63 | Buy | PER12.6x FY20 |
| 05/27/20 | Lim & Tan | Food Empire | 0.515 | 0.63 | Accumlate | PER12.3x FY20 |
| 06/09/20 | DMG & Partners | Food Empire | 0.55 | 0.75 | Buy | PER12x FY20 |
First Sponsor - Stock calls
| Date | Analyst | Company | Last | Target | Call | Valuation |
| 07/26/19 | DBS Vickers | First Sponsor | 1.31 | 1.62 | Buy | RNAV (35% discount) |
First Resources - Stock calls
| Date | Analyst | Company | Last | Target | Call | Valuation |
| 07/02/19 | Kim Eng | First Resources | 1.6 | 1.93 | Buy | |
| 07/16/19 | DBS Vickers | First Resources | 1.55 | 1.82 | Buy | DCF |
| 08/06/19 | UOB Kay Hian | First Resources | 1.53 | 1.6 | Hold | Buy @ $1.45 |
| 08/15/19 | Kim Eng | First Resources | 1.57 | 1.8 | Buy | PER17x FY20 |
| 08/15/19 | DMG & Partners | First Resources | 1.57 | 1.45 | Neutral | PER14x FY20 |
| 08/15/19 | CIMB | First Resources | 1.57 | 1.76 | Add | |
| 08/21/19 | UOB Kay Hian | First Resources | 1.5 | 1.6 | Hold | Buy @ $1.45 |
| 08/21/19 | DBS Vickers | First Resources | 1.5 | 1.8 | Buy | DCF |
| 09/30/19 | DMG & Partners | First Resources | 1.6 | 1.9 | Buy | PER18x FY20 |
| 11/07/19 | UOB Kay Hian | First Resources | 1.73 | 1.9 | Buy | PER15x FY20 |
| 11/12/19 | DMG & Partners | First Resources | 1.73 | 1.95 | Buy | PER18x FY20 |
| 11/13/19 | Kim Eng | First Resources | 1.78 | 1.86 | Hold | PER18x FY20 |
| 11/13/19 | UOB Kay Hian | First Resources | 1.78 | 1.85 | Buy | |
| 11/13/19 | DBS Vickers | First Resources | 1.78 | 1.95 | Buy | DCF |
| 12/10/19 | DBS Vickers | First Resources | 1.83 | 2.1 | Buy | DCF |
| 01/20/20 | DMG & Partners | First Resources | 1.77 | 2.3 | Buy | PER18x FY20 |
| 02/06/20 | UOB Kay Hian | First Resources | 1.78 | 2.1 | Buy | |
| 02/26/20 | DMG & Partners | First Resources | 1.66 | 2 | Buy | PER17x FY20 |
| 02/28/20 | DBS Vickers | First Resources | 1.63 | 1.99 | Buy | DCF |
| 02/28/20 | Kim Eng | First Resources | 1.63 | 1.85 | Buy | PER18x FY20 |
| 03/24/20 | DMG & Partners | First Resources | 1.04 | 1.2 | Buy | Sum of parts, PER12x FY20 |
| 04/13/20 | DBS Vickers | First Resources | 1.27 | 1.99 | Buy | |
| 05/26/20 | CIMB | First Resources | 1.28 | 1.8 | Buy | |
| 05/26/20 | Kim Eng | First Resources | 1.28 | 1.85 | Buy | PER18x FY20 |
| 05/26/20 | DMG & Partners | First Resources | 1.28 | 1.25 | Neutral | PER14x FY20 |
| 05/26/20 | UOB Kay Hian | First Resources | 1.28 | 1.65 | Buy | |
| 05/26/20 | DBS Vickers | First Resources | 1.28 | 1.7 | Buy | DCF |
| 06/26/20 | DMG & Partners | First Resources | 1.33 | 1.35 | Neutral | PER14x FY21 |
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