| Date | Analyst | Company | Last | Target | Call | Valuation |
| 06/18/19 | UOB Kay Hian | ARA Hospitality | 0.87 | 1.15 | Buy | |
| 07/16/19 | UOB Kay Hian | ARA Hospitality | 0.885 | 1.15 | Buy | |
| 08/01/19 | UOB Kay Hian | ARA Hospitality | 0.885 | 1.21 | Buy | DDM |
| 10/02/19 | Amfrasers | ARA Hospitality | 0.87 | 0.96 | Outperform | DDM |
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