Nera Telecom - Stock calls

Date	Analyst	Code	Company	Last	Target	Call	Percent	Valuation
02/25/16	Lim & Tan	N01	Nera Telecom	0.6	0	Hold	-100.00
02/29/16	DMG & Partners	N01	Nera Telecom	0.57	0.55	Neutral	-3.51	DCF, PER14.3x FY16
05/05/16	Lim & Tan	N01	Nera Telecom	0.625	0	Hold	-100.00
05/10/16	DMG & Partners	N01	Nera Telecom	0.635	0.55	Neutral	-13.39	DCF
05/23/16	DMG & Partners	N01	Nera Telecom	0.7	0.8	Trading Buy	14.29	DCF, PER12.6x ex-cash
05/23/16	UOB Kay Hian	N01	Nera Telecom	0.7	0.835	Buy	19.29	Sum of parts
06/15/16	UOB Kay Hian	N01	Nera Telecom	0.685	0.835	Buy	21.90
07/14/16	UOB Kay Hian	N01	Nera Telecom	0.68	0.835	Buy	22.79
08/03/16	Lim & Tan	N01	Nera Telecom	0.705	0	Hold	-100.00
08/04/16	DMG & Partners	N01	Nera Telecom	0.68	0.8	Trading Buy	17.65	DCF
08/04/16	Lim & Tan	N01	Nera Telecom	0.68	0	Trading Buy	-100.00
08/04/16	UOB Kay Hian	N01	Nera Telecom	0.68	0.835	Buy	22.79	Sum of parts
09/27/16	UOB Kay Hian	N01	Nera Telecom	0.735	0.835	Buy	13.61	Sum of parts
10/26/16	Lim & Tan	N01	Nera Telecom	0.73	0	Buy on weakness	-100.00
10/27/16	DMG & Partners	N01	Nera Telecom	0.735	0.8	Trading Buy	8.84
10/27/16	UOB Kay Hian	N01	Nera Telecom	0.735	0.835	Buy	13.61	Sum of parts
11/09/16	Lim & Tan	N01	Nera Telecom	0.775	0	Take profit	-100.00
11/10/16	UOB Kay Hian	N01	Nera Telecom	0.685	0.58	Sell	-15.33	PER14.6x FY17
02/22/17	Lim & Tan	N01	Nera Telecom	0.435	0	Sell	-100.00
05/05/17	Lim & Tan	N01	Nera Telecom	0.39	0	Hold	-100.00
08/07/17	Lim & Tan	N01	Nera Telecom	0.39	0	Hold	-100.00