Fortress Minerals - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
10/28/24	Amfrasers	Fortress Minerals	0.27	0.4	outperform	DCF & EV/Resource3.6x

Food Empire - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
06/14/24	DMG & Partners	Food Empire	1.03	1.75	Buy	PER11x FY24/25
07/04/24	DMG & Partners	Food Empire	0.97	1.52	Buy	PER10x FY24/25
07/09/24	DMG & Partners	Food Empire	0.975	1.45	Buy
08/14/24	Kim Eng	Food Empire	0.98	1.02	Hold
08/23/24	Amfrasers	Food Empire	1.01	1.35	outperform	DCF
09/03/24	DMG & Partners	Food Empire	0.975	1.36	Buy	PER10x FY24/25
09/04/24	UOB Kay Hian	Food Empire	0.995	1	Hold
09/13/24	Kim Eng	Food Empire	0.965	1.02	Hold
09/17/24	DMG & Partners	Food Empire	0.975	1.23	Buy	PER9x FY25
01/10/25	CIMB	Food Empire	0.985	1.43	Add
01/20/25	UOB Kay Hian	Food Empire	0.98	1.1	Hold	PER8.7x FY25
02/27/25	UOB Kay Hian	Food Empire	1.07	1.2	Buy	PER9x FY25
03/17/25	Amfrasers	Food Empire	1.27	1.4	outperform	DCF
04/25/25	DMG & Partners	Food Empire	1.48	1.67	Buy
05/14/25	UOB Kay Hian	Food Empire	1.53	1.98	Buy	PER15x FY25
05/14/25	CIMB	Food Empire	1.53	1.95	Add	PER
05/23/25	Amfrasers	Food Empire	1.76	1.95	outperform	DCF
06/09/25	UOB Kay Hian	Food Empire	1.88	1.98	Buy	PER15x FY25
06/27/25	CIMB	Food Empire	1.78	2.28	Add
07/01/25	Lim & Tan	Food Empire	1.84	1.98	Accumulate on weakness
07/09/25	CIMB	Food Empire	1.86	2.28	Add
07/17/25	UOB Kay Hian	Food Empire	2.01	2.4	Buy	PER17x FY26
07/18/25	CIMB	Food Empire	2.12	2.73	Add
07/22/25	Kim Eng	Food Empire	2.24	2.62	Buy
08/15/25	UOB Kay Hian	Food Empire	2.3	2.73	Buy	PER17x FY26
08/15/25	CIMB	Food Empire	2.3	2.94	Add
08/28/25	DBS Vickers	Food Empire	2.37	2.68	Unrated	Sum of parts
09/10/25	DMG & Partners	Food Empire	2.38	2.72	Buy
09/16/25	Kim Eng	Food Empire	2.62	2.92	Buy
09/17/25	UOB Kay Hian	Food Empire	2.59	3	Buy	PER18.7x FY26
09/19/25	CIMB	Food Empire	2.66	3.09	Add
09/25/25	Lim & Tan	Food Empire	2.65	2.99	Buy
09/25/25	DMG & Partners	Food Empire	2.65	2.95	Buy
10/14/25	UOB Kay Hian	Food Empire	2.3	3	Buy	PER18.7x FY26

First Resources - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
06/11/24	DBS Vickers	First Resources	1.42	2	Buy
07/11/24	DBS Vickers	First Resources	1.4	2	Buy
08/12/24	DMG & Partners	First Resources	1.38	1.45	Neutral	PER11x FY24
08/15/24	Kim Eng	First Resources	1.39	1.46	Hold
11/12/24	DMG & Partners	First Resources	1.58	1.65	Neutral	PER11x FY25
11/15/24	UOB Kay Hian	First Resources	1.57	1.65	Buy	PER8x FY24
12/11/24	DBS Vickers	First Resources	1.53	2	Buy
03/03/25	Kim Eng	First Resources	1.46	1.69	Buy
03/04/25	UOB Kay Hian	First Resources	1.59	1.75	Buy	PER8x FY25
03/19/25	DBS Vickers	First Resources	1.66	2	Buy
03/19/25	Kim Eng	First Resources	1.66	1.69	Hold
03/19/25	DMG & Partners	First Resources	1.66	1.85	Buy
05/16/25	Kim Eng	First Resources	1.48	1.57	Buy	PER
06/30/25	UOB Kay Hian	First Resources	1.49	1.65	Buy
07/09/25	DMG & Partners	First Resources	1.48	1.7	Buy
08/12/25	DBS Vickers	First Resources	1.57	2	Buy	DCF
08/15/25	Kim Eng	First Resources	1.68	1.9	Buy
08/25/25	UOB Kay Hian	First Resources	1.76	1.85	Buy
08/26/25	DMG & Partners	First Resources	1.79	2.1	Buy	PER10x FY26
10/15/25	UOB Kay Hian	First Resources	1.7	1.97	Buy	PER8.5x FY26

Stock calls for 30 October 2025

Date	Analyst	Company	Last	Target	Call	Valuation
10/30/25	DMG & Partners	A-Reit	2.87	3.2	Buy	DDM
10/30/25	DMG & Partners	AIMS AMP Cap Ind Reit	1.39	1.52	Buy	DDM
10/30/25	UOB Kay Hian	ART	0.96	1.56	Buy	DDM
10/30/25	Phillip	ART	0.96	1.05	Buy	DDM
10/30/25	DMG & Partners	Capitaland Integrated Commercial Trust	2.41	2.44	Buy	DDM
10/30/25	DMG & Partners	Comfortdelgro	1.45	1.75	Buy	DCF
10/30/25	DMG & Partners	Dairy Farm	3.41	4.05	Buy	Sum of parts
10/30/25	CIMB	ESR-Reit	2.91	3.64	Add	DDM
10/30/25	DMG & Partners	ESR-Reit	2.91	3.15	Buy
10/30/25	DBS Vickers	Far East Hospitality	0.615	0.7	Buy	DCF
10/30/25	Lim & Tan	Keppel Corp	9.89	10.14	Accumulate on weakness
10/30/25	CIMB	Keppel Reit	1.08	1.2	Add	DDM
10/30/25	DBS Vickers	Mapletree Industrial	2.22	2.6	Buy	DCF
10/30/25	CIMB	Mapletree Logistics	1.36	1.68	Add	DDM
10/30/25	DMG & Partners	Singtel	4.31	4.9	Buy

What will the US Fed do for its upcoming FOMC meeting? - Part 2

As projected, the US Fed has cut its rates by 0.25%.  However,  Powell has indicated this maybe the last cut for 2025.

First Reit - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
06/27/24	Kim Eng	First Reit	0.245	0.28	Buy	DDM
07/05/24	phillip	First Reit	0.245	0.3	Buy	DDM
07/26/24	Lim & Tan	First Reit	0.255	0	Accumulate
07/29/24	OCBC	First Reit	0.255	0.28	Buy
07/29/24	Kim Eng	First Reit	0.255	0.28	Buy
11/01/24	DBS Vickers	First Reit	0.265	0.29	Buy	DCF
11/01/24	Lim & Tan	First Reit	0.265	0.29	Accumulate on weakness
11/04/24	phillip	First Reit	0.27	0.3	Buy	DDM
11/05/24	DBS Vickers	First Reit	0.27	0.28	Hold	DCF
01/14/25	DBS Vickers	First Reit	0.255	0.28	Hold	DCF
01/14/25	Lim & Tan	First Reit	0.255	0.29	Accumulate on weakness
01/16/25	phillip	First Reit	0.265	0.3	Buy	DDM
02/12/25	Lim & Tan	First Reit	0.275	0.29	Accumulate on weakness	PB1x
02/13/25	phillip	First Reit	0.275	0.32	Buy	DDM
05/02/25	phillip	First Reit	0.26	0.32	Buy	DDM
05/02/25	OCBC	First Reit	0.26	0.27	Buy
06/23/25	phillip	First Reit	0.26	0.32	Buy	DDM
07/31/25	Lim & Tan	First Reit	0.27	0.3	Hold
08/01/25	phillip	First Reit	0.275	0.31	Buy	DDM
09/22/25	phillip	First Reit	0.285	0.31	Buy	DDM
10/22/25	Lim & Tan	First Reit	0.28	0.31	Hold
10/23/25	phillip	First Reit	0.28	0.31	Buy	DDM

Far East Hospitality - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
06/04/24	UOB Kay Hian	Far East Hospitality	0.63	0.82	Buy	DDM
06/24/24	phillip	Far East Hospitality	0.62	0.79	Buy	DDM
07/02/24	UOB Kay Hian	Far East Hospitality	0.63	0.77	Buy	DDM
07/22/24	phillip	Far East Hospitality	0.62	0.79	Buy	DDM
07/29/24	Kim Eng	Far East Hospitality	0.625	0.8	Buy
07/31/24	phillip	Far East Hospitality	0.63	0.75	Buy	DDM
07/31/24	CIMB	Far East Hospitality	0.63	0.78	Add	DDM
07/31/24	Citi Research	Far East Hospitality	0.63	0.73	Buy
07/31/24	DBS Vickers	Far East Hospitality	0.63	0.78	Buy
08/05/24	UOB Kay Hian	Far East Hospitality	0.63	0.73	Buy	DDM
10/04/24	UOB Kay Hian	Far East Hospitality	0.645	0.8	Buy	DDM
10/30/24	DBS Vickers	Far East Hospitality	0.625	0.78	Buy
11/01/24	phillip	Far East Hospitality	0.62	0.75	Buy	DDM
11/01/24	Kim Eng	Far East Hospitality	0.62	0.8	Buy
11/01/24	CIMB	Far East Hospitality	0.62	0.78	Add	DDM
11/04/24	UOB Kay Hian	Far East Hospitality	0.62	0.82	Buy	DDM
01/02/25	UOB Kay Hian	Far East Hospitality	0.61	0.82	Buy	DDM
01/09/25	Kim Eng	Far East Hospitality	0.62	0.8	Buy
02/12/25	DBS Vickers	Far East Hospitality	0.605	0.78	Buy
02/13/25	phillip	Far East Hospitality	0.605	0.73	Buy	DDM
02/13/25	DBS Vickers	Far East Hospitality	0.605	0.75	Buy	DCF
02/13/25	Citi Research	Far East Hospitality	0.605	0.73	Buy
02/18/25	UOB Kay Hian	Far East Hospitality	0.6	0.76	Buy	DDM
02/18/25	Citi Research	Far East Hospitality	0.6	0.53	Sell
03/06/25	UOB Kay Hian	Far East Hospitality	0.535	0.76	Buy	DDM
03/21/25	Lim & Tan	Far East Hospitality	0.56	0.7	Accumulate
03/24/25	phillip	Far East Hospitality	0.6	0.73	Buy	DDM
04/08/25	UOB Kay Hian	Far East Hospitality	0.515	0.77	Buy	DDM
04/30/25	DBS Vickers	Far East Hospitality	0.555	0.75	Buy	DCF
05/02/25	phillip	Far East Hospitality	0.545	0.7	Buy	DDM
05/02/25	CIMB	Far East Hospitality	0.545	0.74	Add	DDM
05/30/25	UOB Kay Hian	Far East Hospitality	0.565	0.71	Buy	DDM
06/27/25	UOB Kay Hian	Far East Hospitality	0.565	0.78	Buy	DDM
07/30/25	DBS Vickers	Far East Hospitality	0.61	0.75	Buy	DCF
07/30/25	Lim & Tan	Far East Hospitality	0.61	0.64	Accumulate on weakness
07/31/25	phillip	Far East Hospitality	0.61	0.7	Buy	DDM
08/04/25	CIMB	Far East Hospitality	0.595	0.74	Add	DDM
09/30/25	UOB Kay Hian	Far East Hospitality	0.6	0.81	Buy	DDM
10/06/25	Lim & Tan	Far East Hospitality	0.61	0.66	Accumulate