SATS - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/04/16	UOB Kay Hian	SATS	3.84	4.5	Buy
01/25/16	OCBC	SATS	3.92	3.78	Hold
02/03/16	UOB Kay Hian	SATS	4	4.5	Buy	DDM, PER21.5x
02/15/16	CIMB	SATS	3.84	3.98	Hold	DCF
02/15/16	Citigroup	SATS	3.84	4.61	Buy
02/15/16	DBS Vickers	SATS	3.84	3.65	Hold
02/15/16	DMG & Partners	SATS	3.84	3.7	Neutral	DCF
02/15/16	Kim Eng	SATS	3.84	3.82	Hold	PER18x FY17
02/15/16	OCBC	SATS	3.84	4	Hold	DDM
02/15/16	phillip	SATS	3.84	4.05	Accumulate	DCF
03/03/16	UOB Kay Hian	SATS	4	4.5	Buy
04/01/16	DMG & Partners	SATS	3.95	3.7	Neutral	DCF
04/01/16	UOB Kay Hian	SATS	3.95	4.5	Buy
04/07/16	OCBC	SATS	4.04	4	Hold
04/21/16	phillip	SATS	4.06	4.17	Accumulate	DCF
04/28/16	Credit Suisse	SATS	4	5	Outperform
04/29/16	CIMB	SATS	4.17	4.61	Add	DCF & PER19x CY17
05/23/16	Lim & Tan	SATS	4.45	0	Hold
05/24/16	CIMB	SATS	4.25	4.61	Add	DCF & PER19x CY17
05/24/16	Credit Suisse	SATS	4.25	5	Outperform
05/24/16	OCBC	SATS	4.25	4.2	Hold
05/24/16	phillip	SATS	4.25	4.17	Neutral	DCF, PER21.x FY17
05/24/16	UOB Kay Hian	SATS	4.25	4.2	Hold	DDM, Buy @ $3.60
05/27/16	DBS Vickers	SATS	4.17	4.18	Hold
05/31/16	Kim Eng	SATS	4.21	3.76	Sell	PER17x FY18, Cut from $3.86
06/06/16	Citigroup	SATS	4.1	4.61	Buy
06/13/16	Credit Suisse	SATS	4.05	5	Outperform
06/15/16	OCBC	SATS	4.09	4.2	Hold	DDM
06/28/16	DIR	SATS	4.1	4.66	Outperform	DCF, PER21x
07/13/16	Credit Suisse	SATS	4.35	5	Outperform
07/22/16	DIR	SATS	4.35	4.66	Outperform	DCF, PER21x
07/22/16	Kim Eng	SATS	4.35	3.76	Sell	PER17x FY18
07/22/16	OCBC	SATS	4.35	4.2	Hold	DDM
07/22/16	phillip	SATS	4.35	4.24	Neutral	DCF, PER20x FY17
07/22/16	UOB Kay Hian	SATS	4.35	4.45	Hold	DDM, Buy @ $4
07/25/16	CIMB	SATS	4.28	4.57	Add	DCF
07/25/16	DBS Vickers	SATS	4.28	4.64	Buy
07/25/16	Deutsche	SATS	4.28	5.29	Buy
08/24/16	Citigroup	SATS	4.83	5.5	Buy
08/24/16	Kim Eng	SATS	4.83	3.76	Sell
08/24/16	Lim & Tan	SATS	4.83	0	Hold
08/30/16	OCBC	SATS	4.9	4.7	Hold	DDM
08/31/16	CIMB	SATS	4.86	4.64	Hold	DCF, PER19x CY17
09/01/16	Credit Suisse	SATS	4.71	5	Outperform
09/02/16	UOB Kay Hian	SATS	4.65	4.45	Hold	Buy @ $4.20 or below
09/22/16	DIR	SATS	5.11	5.22	Hold	DCF
09/28/16	Deutsche	SATS	4.97	5.79	Buy
09/28/16	OCBC	SATS	4.97	4.7	Hold	Buy @ $4.40 or below
11/11/16	CIMB	SATS	4.74	4.95	Hold	DCF & PER19x CY19
11/11/16	Credit Suisse	SATS	4.74	4.9	Neutral
11/11/16	DIR	SATS	4.74	4.97	Hold	DCF
11/11/16	Kim Eng	SATS	4.74	3.76	Sell	PER17x FY18
11/11/16	Lim & Tan	SATS	4.74	0	Buy on weakness
11/11/16	OCBC	SATS	4.74	4.7	Hold	Buy @ $4.40 or below
11/11/16	phillip	SATS	4.74	4.48	Neutral	DCF, PER19.8x FY17
11/11/16	UOB Kay Hian	SATS	4.74	4.5	Hold	DDM, Buy @ $4.25
12/06/16	CIMB	SATS	4.89	4.95	Hold	DCF, PER19x CY18
12/07/16	Deutsche	SATS	4.8	5.79	Buy
12/08/16	Citigroup	SATS	4.75	5.5	Buy	PER21x FY18
01/11/17	UOB Kay Hian	SATS	4.94	4.5	Hold
01/20/17	DIR	SATS	5.19	4.97	Hold
02/02/17	Credit Suisse	SATS	5.26	4.9	Neutral
02/08/17	UOB Kay Hian	SATS	5.15	4.5	Hold
02/10/17	CIMB	SATS	4.98	5	Hold	DCF & PER19x CY19
02/10/17	DIR	SATS	4.98	4.93	Hold	DCF
02/10/17	Kim Eng	SATS	4.98	3.76	Sell	PER17x FY18
02/10/17	Lim & Tan	SATS	4.98	0	Hold
02/10/17	OCBC	SATS	4.98	4.7	Hold	Buy @ $4.40
02/10/17	phillip	SATS	4.98	4.73	Neutral	DCF
02/10/17	UOB Kay Hian	SATS	4.98	4.6	Hold	DDM, PER23x FY18, Buy @ $4.30
03/21/17	DIR	SATS	4.82	4.93	Hold	DCF
04/03/17	UOB Kay Hian	SATS	4.88	4.6	Hold
04/07/17	Credit Suisse	SATS	4.89	4.9	Neutral
05/03/17	UOB Kay Hian	SATS	5.12	4.6	Hold
05/18/17	CIMB	SATS	5.28	5.17	Hold	DCF & PER19x
05/22/17	CIMB	SATS	5.29	5.11	Hold	DCF & PER19x
05/22/17	Credit Suisse	SATS	5.29	4.65	Underperform
05/22/17	DIR	SATS	5.29	5	Hold	DCF
05/22/17	Kim Eng	SATS	5.29	4.9	Hold	PER17x
05/22/17	OCBC	SATS	5.29	5.12	Hold	DCF, Buy @ $4.7 or lower
05/22/17	phillip	SATS	5.29	5.08	Hold	DCF, PER23.2x FY18
05/22/17	UOB Kay Hian	SATS	5.29	5.05	Hold	DDM
06/06/17	UOB Kay Hian	SATS	5.22	5.05	Hold	Buy @ $4.75
06/16/17	OCBC	SATS	5.08	5.12	Hold	Buy @ $4.70 or lower
07/14/17	DIR	SATS	4.94	5	Hold	DCF
07/20/17	Credit Suisse	SATS	5.09	4.65	Underperform
07/24/17	Kim Eng	SATS	5.08	4.9	Hold	PER
07/24/17	DIR	SATS	5.08	5.05	Hold	DCF
07/24/17	phillip	SATS	5.08	5.08	Neutral	DCF, PER23.2x FY18
07/24/17	UOB Kay Hian	SATS	5.08	5.1	Hold	DDM
07/24/17	CIMB	SATS	5.08	5.11	Hold	DCF & PER19x
07/24/17	OCBC	SATS	5.08	5.05	Hold	DCF, Buy @ $4.7 or lower
07/24/17	Lim & Tan	SATS	5.08	5.09	Sell	Bloomberg consensus
08/02/17	DIR	SATS	4.85	5.05	Hold
08/02/17	UOB Kay Hian	SATS	4.85	5.4	Buy	DDM, PER23.5x FY18
08/22/17	Credit Suisse	SATS	4.83	4.6	Underperform
09/05/17	UOB Kay Hian	SATS	4.76	5.4	Buy	DDM, PER23.5x FY18
09/18/17	OCBC	SATS	4.74	5.05	Hold	Buy @ $4.70 or lower
09/25/17	DBS Vickers	SATS	4.65	5.02	Buy	DCF & PER21x FY18
09/25/17	CIMB	SATS	4.65	4.24	Reduce	PER18x CY19
09/26/17	DIR	SATS	4.57	5.19	Outperform	DCF
10/02/17	OCBC	SATS	4.61	5.05	Buy
10/04/17	UOB Kay Hian	SATS	4.66	5.4	Buy	PER23.5x FY18
11/01/17	DBS Vickers	SATS	4.7	5.02	Buy
11/02/17	UOB Kay Hian	SATS	4.75	5.4	Buy	PER23.5x FY18
11/10/17	UOB Kay Hian	SATS	4.71	6	Buy	DCF, PER24.6x FY18
11/10/17	OCBC	SATS	4.71	5.05	Buy
11/10/17	CIMB	SATS	4.71	4.81	Hold	PER20x CY18
11/10/17	phillip	SATS	4.71	5.24	Accumulate	DCF, PER23.2x FY18
11/13/17	Kim Eng	SATS	5.01	5.7	Buy	PER21x FY19/20
11/13/17	Credit Suisse	SATS	5.01	4.6	Neutral
12/04/17	UOB Kay Hian	SATS	5.24	6	Buy
12/20/17	CIMB	SATS	5.26	4.81	Hold
01/16/18	OCBC	SATS	5.78	5.5	Hold	Buy @ $5.05 or lower
02/14/18	Kim Eng	SATS	5.25	6.1	Buy	PER21x FY20
02/14/18	UOB Kay Hian	SATS	5.25	5.9	Buy	DCF, PER25.2x FY18
02/14/18	OCBC	SATS	5.25	5.5	Hold	Buy @ $5.05 or lower
02/14/18	CIMB	SATS	5.25	5.17	Hold	PER20x FY19
02/14/18	phillip	SATS	5.25	5.33	Neutral	DCF, PER23.3x FY18
02/14/18	DBS Vickers	SATS	5.25	5.67	Buy	DCF, PER22x FY19