Stock calls for 30 July 2018

Date	Analyst	Company	Last	Target	Call	Valuation
07/30/18	Phillip	A-Reit	2.73	2.96	Accumulate	DDM, PB1.39x FY19
07/30/18	CIMB	A-Reit	2.73	2.89	Add	DDM
07/30/18	OCBC	CapitaRetail China	1.57	1.55	Hold
07/30/18	OCBC	CDL Hospitality	1.65	1.42	Sell
07/30/18	UOB Kay Hian	CDL Hospitality	1.65	1.86	Buy
07/30/18	CIMB	CDL Hospitality	1.65	1.78	Add	DDM
07/30/18	DBS Vickers	CDL Hospitality	1.65	1.95	Buy	DCF
07/30/18	DMG & Partners	Dairy Farm	9.15	9.6	Neutral	DCF
07/30/18	CIMB	Dairy Farm	9.15	9.55	Hold	PER23.5x CY19
07/30/18	OCBC	Far East Hospitality	0.68	0.675	Hold
07/30/18	DBS Vickers	Frasers Hospitality Trust	0.7	0.8	Buy	DCF
07/30/18	UOB Kay Hian	Frasers Hospitality Trust	0.7	0.82	Buy	DDM
07/30/18	DBS Vickers	Ifast Corp	1.09	1.26	Buy	DDM
07/30/18	UOB Kay Hian	M1	1.6	1.55	Sell	DCF
07/30/18	DMG & Partners	M1	1.6	1.68	Neutral	DCF
07/30/18	OCBC	M1	1.6	1.65	Hold
07/30/18	CIMB	OUE Hospitality	0.825	0.89	Add	DDM
07/30/18	DBS Vickers	OUE Hospitality	0.825	0.9	Buy	DCF
07/30/18	OCBC	SGX	7.58	8.32	Buy	PER23x FY19
07/30/18	CIMB	SGX	7.58	8.02	Add	PER24x FY20
07/30/18	Lim & Tan	SGX	7.58	0	Buy
07/30/18	CIMB	SIA	10.22	11.75	Add	PB1.05x CY18
07/30/18	DBS Vickers	SIA	10.22	12.4	Buy	PB1.1x FY19
07/30/18	Kim Eng	Starhill	0.685	0.65	Hold	DDM
07/30/18	OCBC	Starhill	0.685	0.65	Hold