Ascendas Reit (A-Reit) stock calls

Date	Analyst	Code	Company	Last	Target	Call	Percent	Valuation
01/05/16	UOB Kay Hian	A17U	A-Reit	2.25	2.64	Buy	17.33333333
01/07/16	Kim Eng	A17U	A-Reit	2.27	2.23	Hold	-1.762114537	Yield 7%
01/08/16	DBS Vickers	A17U	A-Reit	2.22	2.52	Buy	13.51351351	DCF
01/25/16	DIR	A17U	A-Reit	2.17	2.45	Outperform	12.90322581	DDM
01/25/16	JP Morgan	A17U	A-Reit	2.17	2.6	Overweight	19.8156682
01/25/16	OCBC	A17U	A-Reit	2.17	2.5	Buy	15.20737327
01/26/16	CIMB	A17U	A-Reit	2.22	2.42	Add	9.009009009	DDM
01/26/16	Deutsche	A17U	A-Reit	2.22	2.3	Hold	3.603603604
01/26/16	DIR	A17U	A-Reit	2.22	2.49	Outperform	12.16216216	DDM
01/26/16	Nomura	A17U	A-Reit	2.22	2.45	Buy	10.36036036
02/02/16	DMG & Partners	A17U	A-Reit	2.3	2.5	Buy	8.695652174
02/02/16	JP Morgan	A17U	A-Reit	2.3	2.55	Overweight	10.86956522
03/07/16	CIMB	A17U	A-Reit	2.44	2.41	Hold	-1.229508197	DDM, Buy @ $2.27 (PB1.1x)
03/17/16	Credit Suisse	A17U	A-Reit	2.42	2.5	Neutral	3.305785124
03/17/16	DMG & Partners	A17U	A-Reit	2.42	2.63	Buy	8.67768595	DDM
03/24/16	Deutsche	A17U	A-Reit	2.45	2.3	Hold	-6.12244898
03/28/16	Kim Eng	A17U	A-Reit	2.41	2.23	Hold	-7.468879668
03/30/16	UOB Kay Hian	A17U	A-Reit	2.42	2.64	Buy	9.090909091
04/04/16	OCBC	A17U	A-Reit	2.38	2.5	Buy	5.042016807
04/05/16	Deutsche	A17U	A-Reit	2.41	2.3	Hold	-4.564315353
04/13/16	Kim Eng	A17U	A-Reit	2.42	2.6	Buy	7.438016529	Yield 6.3%
04/27/16	UOB Kay Hian	A17U	A-Reit	2.49	2.64	Buy	6.024096386
05/06/16	CIMB	A17U	A-Reit	2.4	2.52	Add	5	DDM
05/06/16	Credit Suisse	A17U	A-Reit	2.4	2.45	Neutral	2.083333333
05/06/16	DIR	A17U	A-Reit	2.4	2.52	Outperform	5	DDM
05/06/16	DMG & Partners	A17U	A-Reit	2.4	2.63	Buy	9.583333333	DDM
05/06/16	UOB Kay Hian	A17U	A-Reit	2.4	2.64	Buy	10	DDM
05/09/16	OCBC	A17U	A-Reit	2.41	2.58	Buy	7.053941909
05/17/16	Deutsche	A17U	A-Reit	2.34	2.35	Hold	0.427350427
05/17/16	Kim Eng	A17U	A-Reit	2.34	2.57	Buy	9.829059829
05/17/16	Nomura	A17U	A-Reit	2.34	2.5	Neutral	6.837606838
05/18/16	DBS Vickers	A17U	A-Reit	2.35	2.5	Buy	6.382978723
06/03/16	OCBC	A17U	A-Reit	2.3	2.56	Buy	11.30434783
06/09/16	Kim Eng	A17U	A-Reit	2.34	2.63	Buy	12.39316239
06/09/16	Lim & Tan	A17U	A-Reit	2.34	0	Buy	-100
06/13/16	DBS Vickers	A17U	A-Reit	2.32	2.5	Buy	7.75862069
06/15/16	UOB Kay Hian	A17U	A-Reit	2.32	2.64	Buy	13.79310345
06/22/16	DMG & Partners	A17U	A-Reit	2.32	2.63	Buy	13.36206897
07/01/16	OCBC	A17U	A-Reit	2.48	2.56	Buy	3.225806452
07/04/16	DMG & Partners	A17U	A-Reit	2.46	2.63	Buy	6.910569106
07/08/16	UOB Kay Hian	A17U	A-Reit	2.47	2.64	Buy	6.882591093
07/11/16	DIR	A17U	A-Reit	2.45	2.35	Hold	-4.081632653	DDM
07/13/16	DBS Vickers	A17U	A-Reit	2.48	2.55	Buy	2.822580645
07/18/16	UOB Kay Hian	A17U	A-Reit	2.43	2.84	Buy	16.87242798
07/19/16	Credit Suisse	A17U	A-Reit	2.48	2.56	Neutral	3.225806452
07/22/16	CIMB	A17U	A-Reit	2.49	2.61	Add	4.819277108	DDM
07/22/16	DIR	A17U	A-Reit	2.49	2.38	Hold	-4.417670683	DDM
07/22/16	JP Morgan	A17U	A-Reit	2.49	2.65	Overweight	6.425702811
07/22/16	OCBC	A17U	A-Reit	2.49	2.66	Buy	6.827309237
07/25/16	Kim Eng	A17U	A-Reit	2.53	2.7	Buy	6.719367589
07/26/16	Deutsche	A17U	A-Reit	2.47	2.35	Hold	-4.858299595
08/01/16	Deutsche	A17U	A-Reit	2.45	2.55	Hold	4.081632653
08/01/16	UOB Kay Hian	A17U	A-Reit	2.45	2.84	Buy	15.91836735
08/16/16	DBS Vickers	A17U	A-Reit	2.43	2.61	Buy	7.407407407
08/31/16	Credit Suisse	A17U	A-Reit	2.45	2.56	Neutral	4.489795918
09/13/16	Credit Suisse	A17U	A-Reit	2.48	2.58	Neutral	4.032258065
09/13/16	DBS Vickers	A17U	A-Reit	2.48	2.61	Buy	5.241935484
09/13/16	OCBC	A17U	A-Reit	2.48	2.66	Buy	7.258064516
09/15/16	Lim & Tan	A17U	A-Reit	2.38	0	Buy	-100
10/03/16	DIR	A17U	A-Reit	2.52	2.41	Hold	-4.365079365	DDM
10/21/16	CIMB	A17U	A-Reit	2.43	2.47	Hold	1.646090535	DDM
10/21/16	Credit Suisse	A17U	A-Reit	2.43	2.58	Neutral	6.172839506
10/21/16	DBS Vickers	A17U	A-Reit	2.43	2.65	Buy	9.053497942	DCF
10/21/16	OCBC	A17U	A-Reit	2.43	2.67	Buy	9.87654321
10/21/16	UOB Kay Hian	A17U	A-Reit	2.43	2.84	Buy	16.87242798
11/08/16	DBS Vickers	A17U	A-Reit	2.31	2.65	Buy	14.71861472
11/08/16	OCBC	A17U	A-Reit	2.31	2.67	Buy	15.58441558
11/14/16	UOB Kay Hian	A17U	A-Reit	2.25	2.84	Buy	26.22222222
11/16/16	Deutsche	A17U	A-Reit	2.2	2.5	Hold	13.63636364
11/16/16	JP Morgan	A17U	A-Reit	2.2	2.6	Overweight	18.18181818
11/18/16	Nomura	A17U	A-Reit	2.31	2.48	Buy	7.359307359
11/24/16	DIR	A17U	A-Reit	2.3	2.38	Hold	3.47826087	DDM
12/02/16	DMG & Partners	A17U	A-Reit	2.35	2.63	Buy	11.91489362	DDM
12/06/16	Credit Suisse	A17U	A-Reit	2.36	2.63	Outperform	11.44067797
12/06/16	DBS Vickers	A17U	A-Reit	2.36	2.65	Buy	12.28813559	DCF
12/06/16	Kim Eng	A17U	A-Reit	2.36	2.7	Buy	14.40677966
12/06/16	Lim & Tan	A17U	A-Reit	2.36	0	Buy	-100
12/06/16	OCBC	A17U	A-Reit	2.36	2.67	Hold	13.13559322
12/07/16	CIMB	A17U	A-Reit	2.37	2.25	Hold	-5.063291139	DDM
12/07/16	Deutsche	A17U	A-Reit	2.37	2.5	Hold	5.485232068
12/09/16	UOB Kay Hian	A17U	A-Reit	2.39	2.71	Buy	13.38912134
12/12/16	DMG & Partners	A17U	A-Reit	2.4	2.65	Buy	10.41666667	DDM
12/12/16	JP Morgan	A17U	A-Reit	2.4	2.6	Overweight	8.333333333
01/03/17	UOB Kay Hian	A17U	A-Reit	2.27	2.71	Buy	19.38325991	DDM
01/05/17	Credit Suisse	A17U	A-Reit	2.31	2.63	Outperform	13.85281385
01/06/17	DMG & Partners	A17U	A-Reit	2.33	2.65	Buy	13.73390558	DDM
01/06/17	OCBC	A17U	A-Reit	2.33	2.72	Buy	16.73819742
01/09/17	DBS Vickers	A17U	A-Reit	2.38	2.65	Buy	11.34453782	DCF
01/25/17	Deutsche	A17U	A-Reit	2.4	2.55	Hold	6.25
01/25/17	OCBC	A17U	A-Reit	2.4	2.68	Buy	11.66666667
01/26/17	CIMB	A17U	A-Reit	2.4	2.31	Hold	-3.75	DDM
01/26/17	DIR	A17U	A-Reit	2.4	2.38	Hold	-0.833333333	DDM
02/09/17	Credit Suisse	A17U	A-Reit	2.42	2.63	Outperform	8.67768595
02/17/17	JP Morgan	A17U	A-Reit	2.47	2.65	Overweight	7.287449393
02/28/17	Deutsche	A17U	A-Reit	2.48	2.55	Hold	2.822580645
03/02/17	UOB Kay Hian	A17U	A-Reit	2.49	2.71	Buy	8.835341365
03/06/17	OCBC	A17U	A-Reit	2.49	2.68	Buy	7.630522088
03/10/17	DMG & Partners	A17U	A-Reit	2.45	2.65	Buy	8.163265306
03/13/17	Credit Suisse	A17U	A-Reit	2.47	2.63	Outperform	6.477732794
03/17/17	DBS Vickers	A17U	A-Reit	2.5	2.65	Buy	6
03/20/17	DIR	A17U	A-Reit	2.5	2.44	Hold	-2.4	DDM
04/07/17	DMG & Partners	A17U	A-Reit	2.53	2.65	Buy	4.743083004
04/11/17	UOB Kay Hian	A17U	A-Reit	2.52	2.71	Buy	7.53968254
04/18/17	DIR	A17U	A-Reit	2.52	2.44	Hold	-3.174603175
04/18/17	Kim Eng	A17U	A-Reit	2.52	2.85	Buy	13.0952381	DDM
04/26/17	CIMB	A17U	A-Reit	2.55	2.59	Hold	1.568627451	DDM
04/26/17	DBS Vickers	A17U	A-Reit	2.55	2.65	Buy	3.921568627	DCF
04/26/17	DIR	A17U	A-Reit	2.55	2.45	Hold	-3.921568627	DDM
04/26/17	DMG & Partners	A17U	A-Reit	2.55	2.73	Buy	7.058823529	DDM
04/26/17	OCBC	A17U	A-Reit	2.55	2.66	Buy	4.31372549
04/26/17	UOB Kay Hian	A17U	A-Reit	2.55	2.75	Buy	7.843137255
05/02/17	Kim Eng	A17U	A-Reit	2.56	2.85	Buy	11.328125
05/17/17	Deutsche	A17U	A-Reit	2.6	2.6	Hold	0
05/17/17	UOB Kay Hian	A17U	A-Reit	2.6	2.75	Buy	5.769230769
05/18/17	DBS Vickers	A17U	A-Reit	2.58	2.65	Buy	2.713178295
05/25/17	UOB Kay Hian	A17U	A-Reit	2.62	2.97	Buy	13.35877863
06/01/17	DMG & Partners	A17U	A-Reit	2.62	2.73	Buy	4.198473282	DDM
06/02/17	OCBC	A17U	A-Reit	2.64	2.66	Buy	0.757575758
06/08/17	Lim & Tan	A17U	A-Reit	2.67	0	Buy on weakness	-100
06/12/17	Kim Eng	A17U	A-Reit	2.7	2.9	Buy`	7.407407407	DDM
06/21/17	Credit Suisse	A17U	A-Reit	2.72	2.62	Neutral	-3.676470588
06/22/17	Deutsche	A17U	A-Reit	2.66	2.6	Hold	-2.255639098
06/28/17	DIR	A17U	A-Reit	2.66	2.45	Underperform	-7.894736842	DDM
07/03/17	Kim Eng	A17U	A-Reit	2.61	2.9	Buy	11.11111111	DDM
07/12/17	DMG & Partners	A17U	A-Reit	2.58	2.73	Buy	5.813953488
07/14/17	Phillip	A17U	A-Reit	2.59	2.86	Accumulate	10.42471042	DDM, PB1.35x FY18
07/25/17	UOB Kay Hian	A17U	A-Reit	2.7	2.97	Buy	10	DDM
07/26/17	DBS Vickers	A17U	A-Reit	2.72	2.78	Buy	2.205882353	DCF
07/28/17	DIR	A17U	A-Reit	2.72	2.45	Underperform	-9.926470588	DDM
07/28/17	Credit Suisse	A17U	A-Reit	2.72	2.62	Neutral	-3.676470588
07/28/17	DMG & Partners	A17U	A-Reit	2.72	2.9	Buy	6.617647059	DDM
07/28/17	OCBC	A17U	A-Reit	2.72	2.66	Hold	-2.205882353
07/28/17	CIMB	A17U	A-Reit	2.72	2.71	Hold	-0.367647059	DDM
07/31/17	UOB Kay Hian	A17U	A-Reit	2.71	2.75	Buy	1.47601476
07/31/17	DBS Vickers	A17U	A-Reit	2.71	2.85	Buy	5.166051661	DCF
08/03/17	Kim Eng	A17U	A-Reit	2.68	2.9	Buy	8.208955224
08/14/17	OCBC	A17U	A-Reit	2.66	2.66	Hold	0
08/17/17	UOB Kay Hian	A17U	A-Reit	2.67	2.97	Buy	11.23595506
08/22/17	Phillip	A17U	A-Reit	2.65	2.86	Accumulate	7.924528302
08/28/17	DBS Vickers	A17U	A-Reit	2.61	2.85	Buy	9.195402299
09/04/17	CIMB	A17U	A-Reit	2.66	2.71	Hold	1.879699248
09/21/17	DMG & Partners	A17U	A-Reit	2.7	2.9	Buy	7.407407407	DDM
09/26/17	OCBC	A17U	A-Reit	2.68	2.66	Hold	-0.746268657
09/26/17	Kim Eng	A17U	A-Reit	2.68	2.9	Buy	8.208955224
10/09/17	Phillip	A17U	A-Reit	2.69	2.86	Accumulate	6.319702602	DDM, PB1.35x FY18
10/23/17	UOB Kay Hian	A17U	A-Reit	2.72	2.97	Buy	9.191176471	DDM
10/25/17	Kim Eng	A17U	A-Reit	2.75	2.9	Buy	5.454545455
10/31/17	DMG & Partners	A17U	A-Reit	2.71	2.9	Buy	7.011070111	DDM
10/31/17	OCBC	A17U	A-Reit	2.71	2.67	Hold	-1.47601476
10/31/17	CIMB	A17U	A-Reit	2.71	2.72	Hold	0.36900369	DDM
11/01/17	DBS Vickers	A17U	A-Reit	2.74	2.85	Buy	4.01459854
11/09/17	UOB Kay Hian	A17U	A-Reit	2.66	2.97	Buy	11.65413534