SATS - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/16/18	OCBC	SATS	5.78	5.5	Hold	Buy @ $5.05 or lower
01/16/18	Citi Research	SATS	5.78	6.1	Buy	Up from $5.63
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
03/09/18	UOB Kay Hian	SATS	5.03	5.9	Buy
04/13/18	UOB Kay Hian	SATS	5.18	5.8	Buy	PER25.3x FY19
04/19/18	CIMB	SATS	5.45	5.17	Hold
05/30/18	Lim & Tan	SATS	5.35	0	Hold
05/31/18	phillip	SATS	5.28	5.58	Accumulate	DCF
05/31/18	UOB Kay Hian	SATS	5.28	5.7	Buy	DCF, PER24.3x FY19
05/31/18	DBS Vickers	SATS	5.28	5.64	Buy
05/31/18	OCBC	SATS	5.28	5.5	Hold
06/11/18	UOB Kay Hian	SATS	5.13	5.7	Buy
06/14/18	OCBC	SATS	5.06	5.5	Buy
07/03/18	UOB Kay Hian	SATS	4.91	5.7	Buy
07/20/18	phillip	SATS	5.1	5.58	Accumulate	DCF, PER24.7x FY19
07/20/18	UOB Kay Hian	SATS	5.1	6.1	Buy	DCF, PER23x FY20
07/20/18	Kim Eng	SATS	5.1	5.9	Buy	PER21x FY20
07/20/18	CIMB	SATS	5.1	5.06	Hold	PER20x CY19
07/20/18	DBS Vickers	SATS	5.1	5.65	Buy	DCF & PER22x FY19
08/17/18	UOB Kay Hian	SATS	5.1	6.1	Buy
09/10/18	UOB Kay Hian	SATS	5.01	6.1	Buy
09/18/18	OCBC	SATS	4.93	5.39	Buy
11/08/18	UOB Kay Hian	SATS	4.99	5.6	Buy	EV/Invested Capital
11/09/18	phillip	SATS	5.11	5.47	Accumulate	DCF, PER24.3x FY19
11/09/18	OCBC	SATS	5.11	5.39	Hold
11/09/18	CIMB	SATS	5.11	5.06	Hold	PER20x CY19
11/12/18	DBS Vickers	SATS	4.88	5.6	Buy	DCF, PER22x FY20
11/12/18	Citi Research	SATS	4.88	6	Buy
11/29/18	OCBC	SATS	4.65	5.34	Buy	FCFE
11/30/18	UOB Kay Hian	SATS	4.83	5.4	Buy
12/10/18	UOB Kay Hian	SATS	4.65	5.6	Buy
01/04/19	UOB Kay Hian	SATS	4.59	5.6	Buy
01/11/19	OCBC	SATS	4.94	5.23	Hold	DCF
02/08/19	UOB Kay Hian	SATS	4.8	5.6	Buy
02/14/19	phillip	SATS	4.98	5.47	Accumulate	DCF, PER24.6x FY19
02/14/19	OCBC	SATS	4.98	5.23	Hold
02/14/19	CIMB	SATS	4.98	5.46	Add	PER20.3x
02/14/19	Lim & Tan	SATS	4.98	0	Hold
02/14/19	DBS Vickers	SATS	4.98	5.59	Buy	DCF & PER22x FY19
02/14/19	Kim Eng	SATS	4.98	5.8	Buy
02/15/19	Citi Research	SATS	5.08	6	Buy