SGX - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/21/16	CIMB	SGX	6.65	7.16	Hold	DDM, PER19x
01/21/16	DBS Vickers	SGX	6.65	7.8	Buy	DDM, PER23x FY16
01/21/16	Goldman Sachs	SGX	6.65	7.1	Neutral
01/21/16	DMG & Partners	SGX	6.65	8.13	Buy	PER23x FY17
01/21/16	Jefferies	SGX	6.65	8.5	Buy
01/21/16	Lim & Tan	SGX	6.65	0	Buy
01/21/16	Nomura	SGX	6.65	7.9	Neutral
01/21/16	OCBC	SGX	6.65	7.06	Buy	PER21x FY16
01/26/16	Credit Suisse	SGX	6.91	8	Neutral
01/26/16	Deutsche	SGX	6.91	8.3	Buy
02/26/16	OCBC	SGX	7.01	7.01	Hold	Buy @ $6.70
02/26/16	Goldman Sachs	SGX	7.01	7.4	Neutral
02/29/16	Macquarie	SGX	7.26	8.5	Outperform
03/03/16	phillip	SGX	7.38	8.28	Accumulate	PER24.5x
04/06/16	CIMB	SGX	7.78	7.16	Reduce	DDM
04/06/16	Goldman Sachs	SGX	7.78	7.5	Neutral
04/11/16	DMG & Partners	SGX	7.65	8.13	Buy	PER23x FY17
04/21/16	DBS Vickers	SGX	8.05	7.7	Hold	DDM, PER24x FY16
04/21/16	Deutsche	SGX	8.05	8.1	Hold
04/21/16	DMG & Partners	SGX	8.05	9.04	Buy	PER26x FY17
04/21/16	Jefferies	SGX	8.05	8.5	Buy
04/21/16	Lim & Tan	SGX	8.05	0	Buy
04/21/16	OCBC	SGX	8.05	7.4	Hold	PER22x FY16/17
04/21/16	phillip	SGX	8.05	8.62	Accumulate	PER24.5x
05/27/16	Lim & Tan	SGX	7.58	0	Buy
07/15/16	OCBC	SGX	7.79	7.4	Hold
07/15/16	Goldman Sachs	SGX	7.79	7.4	Neutral
07/19/16	DBS Vickers	SGX	7.8	7.7	Hold
07/22/16	DMG & Partners	SGX	7.82	9.04	Buy	PER26x FY17
07/28/16	CIMB	SGX	7.74	7.24	Reduce	DDM
07/28/16	DBS Vickers	SGX	7.74	7.8	Hold
07/28/16	Deutsche	SGX	7.74	7.5	Hold
07/28/16	Lim & Tan	SGX	7.74	0	Sell
07/28/16	OCBC	SGX	7.74	7.36	Hold	PER21x
07/29/16	phillip	SGX	7.66	7.99	Accumulate	PER24.5x
07/29/16	Goldman Sachs	SGX	7.66	7.5	Neutral
08/08/16	DBS Vickers	SGX	7.57	7.8	Hold
08/08/16	OCBC	SGX	7.57	7.36	Hold
08/23/16	Lim & Tan	SGX	7.66	0	Hold
09/16/16	phillip	SGX	7.45	7.99	Accumulate	PER24.5x
09/28/16	OCBC	SGX	7.47	7.36	Hold
10/13/16	CIMB	SGX	7.27	7.24	Reduce	DDM
10/18/16	Credit Suisse	SGX	7.21	7.6	Neutral
10/20/16	CIMB	SGX	7.22	7.04	Reduce	DDM
10/20/16	Lim & Tan	SGX	7.22	0	Hold
10/20/16	OCBC	SGX	7.22	7.36	Hold
10/20/16	phillip	SGX	7.22	7.69	Accumulate	PER24.3x
10/21/16	DBS Vickers	SGX	7.21	7.6	Hold	DDM
11/09/16	Credit Suisse	SGX	7.01	7.6	Neutral
11/23/16	CIMB	SGX	7.15	7.23	Hold	DDM
12/02/16	DMG & Partners	SGX	7.34	9.1	Buy	PER25x FY18
12/06/16	CIMB	SGX	7.31	7.23	Hold	DDM
12/07/16	Deutsche	SGX	7.3	7.5	Hold
12/09/16	Credit Suisse	SGX	7.4	7.6	Neutral
01/11/17	Credit Suisse	SGX	7.24	7.6	Neutral
01/11/17	Goldman Sachs	SGX	7.24	7.3	Neutral
01/11/17	Deutsche	SGX	7.24	7	Hold
01/16/17	DBS Vickers	SGX	7.39	8.3	Buy	DDM
01/16/17	DMG & Partners	SGX	7.39	9.1	Buy	PER25x FY18
01/16/17	UBS	SGX	7.39	8	Buy
01/20/17	CIMB	SGX	7.48	7.23	Hold	DDM
01/20/17	Lim & Tan	SGX	7.48	0	Buy
01/20/17	OCBC	SGX	7.48	7.64	Hold	PER22x, Buy @ $7.20 or lower
02/09/17	Credit Suisse	SGX	7.55	7.6	Neutral
02/14/17	Macquarie	SGX	7.62	8.25	Outperform
03/09/17	Credit Suisse	SGX	7.57	7.6	Neutral
03/09/17	phillip	SGX	7.57	7.75	Accumulate
03/14/17	DMG & Partners	SGX	7.58	9.1	Buy	PER25x FY18
03/17/17	DBS Vickers	SGX	7.63	8.3	Buy
03/28/17	CIMB	SGX	7.56	8.09	Add	PER24x FY18
03/28/17	JP Morgan	SGX	7.56	8.5	Overweight	Up from $7.90
03/28/17	Goldman Sachs	SGX	7.56	7.95	Neutral
04/10/17	Credit Suisse	SGX	7.66	7.6	Neutral
04/12/17	CIMB	SGX	7.58	8.09	Add	PER24x FY18
04/12/17	UBS	SGX	7.58	8.4	Buy
04/21/17	CIMB	SGX	7.45	8.16	Add	PER24x FY18
04/21/17	DMG & Partners	SGX	7.45	9.1	Buy	PER25x FY18
04/21/17	Lim & Tan	SGX	7.45	0	Buy
04/21/17	Macquarie	SGX	7.45	7.5	Neutral	DDM, PER22.3x
04/21/17	OCBC	SGX	7.45	7.53	Hold	Buy @ $7.1 or lower
04/21/17	phillip	SGX	7.45	7.45	Neutral	PER23.9x
04/21/17	Goldman Sachs	SGX	7.45	7.8	Neutral
05/08/17	Credit Suisse	SGX	7.43	7.6	Neutral
05/24/17	DMG & Partners	SGX	7.41	9.1	Buy	PER25x FY18
05/24/17	Goldman Sachs	SGX	7.41	7.9	Neutral
06/20/17	DMG & Partners	SGX	7.34	9	Buy	PER24x FY18
06/20/17	Lim & Tan	SGX	7.34	0	Buy
07/28/17	CIMB	SGX	7.54	8.04	Add	PER24x FY18
07/28/17	Credit Suisse	SGX	7.54	7.6	Neutral
07/28/17	DMG & Partners	SGX	7.54	9	Buy	PER24x FY18
07/28/17	OCBC	SGX	7.54	7.83	Hold	PER23x
07/28/17	JP Morgan	SGX	7.54	8.4	Overweight
07/31/17	phillip	SGX	7.59	7.63	Accumulate	PER23.9x
07/31/17	DBS Vickers	SGX	7.59	8.2	Buy	PER24x FY18
09/08/17	Credit Suisse	SGX	7.46	7.6	Neutral
09/18/17	DMG & Partners	SGX	7.42	9	Buy	PER24x FY19
09/27/17	Goldman Sachs	SGX	7.44	8.5	Buy
10/11/17	Credit Suisse	SGX	7.64	7.6	Neutral
10/11/17	JP Morgan	SGX	7.64	8.3	Overweight
10/17/17	phillip	SGX	7.66	8.39	Accumulate	PER23.9x
10/19/17	Lim & Tan	SGX	7.63	0	Buy
10/26/17	CIMB	SGX	7.57	8.21	Add	PER24x FY19
10/26/17	DMG & Partners	SGX	7.57	9	Buy	PER24x FY19
10/26/17	OCBC	SGX	7.57	7.87	Hold
10/26/17	DBS Vickers	SGX	7.57	8.4	Buy	DDM, PER24x FY18
10/27/17	phillip	SGX	7.61	8.31	Accumulate	PER23.9x
11/21/17	phillip	SGX	7.52	8.31	Accumulate	PER23.9x
11/21/17	JP Morgan	SGX	7.52	8.4	Overweight
11/21/17	Goldman Sachs	SGX	7.52	8.6	Buy
12/04/17	DMG & Partners	SGX	7.55	9	Buy	PER24x FY19
12/20/17	CIMB	SGX	7.43	8.21	Add
12/20/17	Kim Eng	SGX	7.43	8.3	Buy
01/22/18	DMG & Partners	SGX	7.98	9	Buy	PER24x FY19
01/22/18	Kim Eng	SGX	7.98	8.82	Buy	PER23x FY19
01/22/18	DBS Vickers	SGX	7.98	8.9	Buy	DDM, PER21x FY19
01/22/18	OCBC	SGX	7.98	8.16	Hold	PER24x FY18
01/22/18	CIMB	SGX	7.98	8.5	Add	PER24x FY19
01/22/18	phillip	SGX	7.98	9	Accumulate	DCF
01/22/18	UBS	SGX	7.98	8.7	Buy
02/07/18	CIMB	SGX	7.88	8.5	Add	PER24x FY19
02/07/18	DMG & Partners	SGX	7.88	9	Buy	PER24x FY19
02/07/18	OCBC	SGX	7.88	8.16	Hold
02/07/18	Kim Eng	SGX	7.88	8.82	Buy	PER23x FY19
02/07/18	DBS Vickers	SGX	7.88	8.9	Buy	DDM, PER21x FY19
02/13/18	JP Morgan	SGX	7.31	9	Overweight
02/13/18	Jefferies	SGX	7.31	8	Buy
02/13/18	UBS	SGX	7.31	8.7	Buy
02/13/18	CIMB	SGX	7.31	7.85	Hold	PER24x FY19
02/13/18	Goldman Sachs	SGX	7.31	6.6	Sell
02/14/18	phillip	SGX	7.3	8.89	Buy	DCF
02/19/18	Jefferies	SGX	7.37	8	Buy
02/20/18	DBS Vickers	SGX	7.71	8.9	Buy	DDM, PER21x FY19