Stock calls for 29 July 2025

Date	Analyst	Company	Last	Target	Call	Valuation
07/29/25	DBS Vickers	ART	0.905	1.15	Buy	DCF
07/29/25	Lim & Tan	ART	0.905	1.11	Accumulate
07/29/25	DBS Vickers	ESR-Reit	2.64	3.1	Buy	DCF
07/29/25	DBS Vickers	Haw Par	13.55	23.5	Buy	Sum of parts (20% disc)
07/29/25	DBS Vickers	Hotel Properties	5.21	5	Hold	RNAV (50% disc)
07/29/25	UOB Kay Hian	Ifast Corp	8.17	9.92	Buy	PER29x FY26
07/29/25	DBS Vickers	Ifast Corp	8.17	10	Buy	Sum of parts & DCF
07/29/25	DBS Vickers	Mapletree Industrial	2.07	2.6	Buy	DCF
07/29/25	UOB Kay Hian	Raffles Medical	1.07	1.25	Buy	PER31x FY25
07/29/25	DBS Vickers	Raffles Medical	1.07	1.32	Buy	PER30x FY26
07/29/25	Kim Eng	SIA	7.6	6.75	Sell
07/29/25	CIMB	SIA	7.6	6.8	Reduce
07/29/25	DBS Vickers	SIA	7.6	6.4	Hold	EV/Ebitda5x FY26
07/29/25	Lim & Tan	SIA	7.6	6.85	Hold
07/29/25	Citi Research	SIA	7.6	6.15	Sell	PB1.15x FY26