DBS Bank - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/03/20	UOB Kay Hian	DBS	26.11	30	Buy
01/08/20	CIMB	DBS	26.05	28.29	Add
01/08/20	Kim Eng	DBS	26.05	29.92	Buy
01/14/20	DMG & Partners	DBS	26.1	25.8	Neutral	GGM, PB1.28x FY20
02/07/20	UOB Kay Hian	DBS	25.7	28.65	Buy
02/13/20	Lim & Tan	DBS	25.42	0	Buy
02/13/20	JP Morgan	DBS	25.42	23	Underweight
02/14/20	CIMB	DBS	25.42	27.09	Add	GGM
02/14/20	UOB Kay Hian	DBS	25.42	28	Buy	GGM, PB1.39x FY20
02/14/20	DMG & Partners	DBS	25.42	24.8	Neutral	GGM, PB1.25x FY20
02/14/20	Kim Eng	DBS	25.42	28.6	Buy
02/14/20	Jefferies	DBS	25.42	28.5	Buy
02/18/20	phillip	DBS	25.48	27.3	Accumulate
02/18/20	Citibank	DBS	25.48	26.8	Hold
03/04/20	Citibank	DBS	23.66	24.4	Hold
03/05/20	CIMB	DBS	23.91	24.33	Hold
03/05/20	OCBC	DBS	23.91	25.5	Hold	GGM, PB1.3x
03/09/20	Citibank	DBS	23	17.5	Sell
03/09/20	JP Morgan	DBS	23	20	Underweight
03/10/20	phillip	DBS	21.15	27.3	Accumulate
03/10/20	Jefferies	DBS	21.15	27	Buy
03/13/20	DMG & Partners	DBS	20.2	21.5	Neutral	GGM, PB1.09x FY20
03/19/20	Macquarie	DBS	17.9	20.25	Neutral
03/19/20	Jefferies	DBS	17.9	20	Buy
03/19/20	JP Morgan	DBS	17.9	16	Underweight
04/01/20	Jefferies	DBS	18.57	20	Buy
04/01/20	Citibank	DBS	18.57	17.5	Sell
04/08/20	Kim Eng	DBS	19.11	21.99	Buy
04/13/20	phillip	DBS	19.14	27.3	Accumulate
04/17/20	UOB Kay Hian	DBS	19.38	22.1	Buy
04/24/20	Macquarie	DBS	18.74	18.25	Neutral
04/30/20	Lim & Tan	DBS	19.2	0	Buy
05/01/20	DMG & Partners	DBS	19.2	18.7	Neutral	GGM, PB0.96x FY20
05/04/20	phillip	DBS	19.96	20.59	Accumulate	GGM, PB1.09x
05/04/20	UOB Kay Hian	DBS	19.96	22.3	Buy
05/04/20	Jefferies	DBS	19.96	22.5	Buy
05/11/20	Kim Eng	DBS	19.7	22.1	Buy
05/11/20	Citibank	DBS	19.7	19.65	Hold
06/08/20	phillip	DBS	22.28	20.6	Neutral
06/08/20	Citibank	DBS	22.28	25.5	Buy
06/10/20	Lim & Tan	DBS	22.95	0	Hold
06/11/20	Macquarie	DBS	23.01	26	outperform	PB
06/18/20	DMG & Partners	DBS	21.57	18.7	Neutral
06/18/20	JP Morgan	DBS	21.57	19.5	Underweight
06/24/20	Kim Eng	DBS	21.13	22.1	Buy
07/01/20	CIMB	DBS	20.85	18.8	Hold
07/03/20	phillip	DBS	21.28	20.6	Neutral
07/06/20	UOB Kay Hian	DBS	21.57	26.22	Buy
07/14/20	Macquarie	DBS	21.54	26	outperform	PB
07/20/20	UOB Kay Hian	DBS	21.38	24.8	Buy
07/21/20	Jefferies	DBS	21.29	24.5	Buy
07/21/20	Kim Eng	DBS	21.29	22.1	Buy
07/30/20	Macquarie	DBS	20.4	25.5	outperform	PB
07/30/20	OCBC	DBS	20.4	20	Hold
07/30/20	UOB Kay Hian	DBS	20.4	23.12	Buy
07/30/20	JP Morgan	DBS	20.4	19	Underweight
07/30/20	Jefferies	DBS	20.4	20	Hold
08/04/20	Macquarie	DBS	19.45	24.25	outperform	PB
08/06/20	Lim & Tan	DBS	19.83	0	Accumulate
08/07/20	Kim Eng	DBS	20.4	22.9	Buy	DDM
08/07/20	DMG & Partners	DBS	20.4	18.5	Neutral	GGM, PB0.94x FY20
08/07/20	UOB Kay Hian	DBS	20.4	22.9	Buy	GGM, PB01.07x FY21
08/07/20	CIMB	DBS	20.4	18.8	Hold
08/11/20	phillip	DBS	20.6	21	Accumulate	GGM, PB1.18x
08/11/20	CIMB	DBS	20.6	20.46	Hold
08/12/20	Macquarie	DBS	20.85	24.1	outperform	PB
08/12/20	JP Morgan	DBS	20.85	20	Neutral
09/02/20	Macquarie	DBS	20.87	24.1	outperform
09/07/20	phillip	DBS	20.68	21	Accumulate
09/14/20	Kim Eng	DBS	20.51	22.9	Buy
09/25/20	Lim & Tan	DBS	19.8	0	Accumulate
09/30/20	UOB Kay Hian	DBS	19.98	23.5	Buy
09/30/20	JP Morgan	DBS	19.98	22	Overweight
10/01/20	CIMB	DBS	19.91	20.46	Hold
10/07/20	UOB Kay Hian	DBS	20.71	23.5	Buy
10/07/20	OCBC	DBS	20.71	22.5	Hold
10/12/20	phillip	DBS	21.05	21	Neutral
10/21/20	Kim Eng	DBS	21.3	22.9	Buy
11/04/20	phillip	DBS	21.43	21	Neutral
11/05/20	Lim & Tan	DBS	21.55	0	Accumulate
11/06/20	Macquarie	DBS	22.43	24.1	outperform
11/06/20	Kim Eng	DBS	22.43	24.63	Buy	DDM
11/06/20	UOB Kay Hian	DBS	22.43	26.75	Buy	GGM, PB1.27x FY21
11/06/20	CIMB	DBS	22.43	20.46	Hold
11/06/20	DMG & Partners	DBS	22.43	25.2	Buy	GGM
11/06/20	OCBC	DBS	22.43	24.5	Buy
11/09/20	phillip	DBS	22.49	22.6	Neutral	GGM, PB1.26x FY21
11/09/20	Jefferies	DBS	22.49	26	Buy
11/09/20	CIMB	DBS	22.49	25.51	Add	GGM
11/16/20	OCBC	DBS	23.98	27	Buy
11/18/20	Jefferies	DBS	24.65	22	Hold
11/18/20	JP Morgan	DBS	24.65	24.5	Overweight
11/19/20	Macquarie	DBS	24.63	24.1	Neutral
11/19/20	Lim & Tan	DBS	24.63	0	Hold
11/20/20	DMG & Partners	DBS	24.42	25.2	Buy	GGM
11/25/20	Kim Eng	DBS	25.6	24.63	Sell
11/30/20	CIMB	DBS	25.68	28.35	Add	GGM, PB1.3x FY21
12/01/20	UOB Kay Hian	DBS	25.2	26.75	Buy
12/07/20	phillip	DBS	25.66	22.6	Neutral
12/07/20	Kim Eng	DBS	25.66	24.63	Sell
12/08/20	Macquarie	DBS	25.26	24.1	Neutral
12/10/20	DMG & Partners	DBS	25.45	30	Buy	GGM
12/11/20	Lim & Tan	DBS	25.05	0	Hold
12/16/20	DMG & Partners	DBS	25.46	30	Buy

Dasin Retail - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
03/10/20	phillip	Dasin Retail	0.805	0.88	Accumulate	DDM
05/27/20	phillip	Dasin Retail	0.83	0.91	Accumulate	DDM
08/11/20	DBS Vickers	Dasin Retail	0.785	0.86	Buy	DCF
08/24/20	phillip	Dasin Retail	0.815	0.91	Accumulate	DDM
09/14/20	phillip	Dasin Retail	0.815	0.91	Accumulate
10/19/20	phillip	Dasin Retail	0.8	0.91	Accumulate
11/23/20	phillip	Dasin Retail	0.775	0.91	Accumulate
12/07/20	phillip	Dasin Retail	0.76	0.9	Buy	DDM

Dairy Farm - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
03/06/20	DMG & Partners	Dairy Farm	4.75	5.05	Hold	DCF
03/06/20	DBS Vickers	Dairy Farm	4.75	5.2	Buy	Sum of parts
03/06/20	CIMB	Dairy Farm	4.75	4.38	Reduce	PER17x FY20
03/25/20	DBS Vickers	Dairy Farm	3.96	4.7	Buy	Sum of parts
03/27/20	HSBC	Dairy Farm	4.31	5.05	Hold
04/06/20	DBS Vickers	Dairy Farm	4.31	4.7	Buy
04/09/20	DMG & Partners	Dairy Farm	4.89	4.95	Neutral	DCF
04/15/20	DBS Vickers	Dairy Farm	4.83	5.59	Buy
04/29/20	DBS Vickers	Dairy Farm	4.75	5.1	Buy	Sum of parts
05/28/20	Macquarie	Dairy Farm	4.26	5.8	Outperform
06/08/20	DMG & Partners	Dairy Farm	4.75	4.95	Neutral
06/10/20	CIMB	Dairy Farm	5	5.45	Hold	PER20x CY21
07/03/20	DBS Vickers	Dairy Farm	4.66	5.1	Buy
07/03/20	CIMB	Dairy Farm	4.15	4.63	Hold	PER20x CY21, Buy @ $3.80
07/30/20	DMG & Partners	Dairy Farm	4.15	4.47	Neutral	DCF
07/30/20	DBS Vickers	Dairy Farm	4.15	4.86	Buy	Sum of parts
08/19/20	Macquarie	Dairy Farm	4.21	5.7	Outperform	DCF
08/28/20	DMG & Partners	Dairy Farm	4.27	4.47	Neutral
09/10/20	CIMB	Dairy Farm	3.85	4.5	Add	PER20x FY21
10/22/20	DMG & Partners	Dairy Farm	3.78	4.47	Buy
10/26/20	DBS Vickers	Dairy Farm	3.76	4.44	Buy
12/02/20	CIMB	Dairy Farm	4.1	4.5	Add

CSE Global - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/08/20	UOB Kay Hian	CSE Global	0.56	0.7	Buy
01/08/20	DMG & Partners	CSE Global	0.56	0.69	Buy
02/05/20	Lim & Tan	CSE Global	0.51	0.68	Buy
02/11/20	DMG & Partners	CSE Global	0.53	0.69	Buy	DCF
02/28/20	DMG & Partners	CSE Global	0.545	0.73	Buy	DCF
02/28/20	UOB Kay Hian	CSE Global	0.545	0.72	Buy
02/28/20	CIMB	CSE Global	0.545	0.77	Add	PER13.5x FY21
03/02/20	DBS Vickers	CSE Global	0.52	0.7	Buy	PER12x FY20
03/12/20	DBS Vickers	CSE Global	0.465	0.65	Buy	PER12x FY20
03/26/20	CIMB	CSE Global	0.35	0.45	Add
03/30/20	DMG & Partners	CSE Global	0.36	0.73	Buy
04/07/20	DMG & Partners	CSE Global	0.35	0.73	Buy
04/08/20	DMG & Partners	CSE Global	0.38	0.54	Buy	PER12x FY20
05/06/20	DBS Vickers	CSE Global	0.395	0.54	Buy	PER10.6x
06/03/20	UOB Kay Hian	CSE Global	0.475	0.65	Buy	PER12.1x FY21
06/04/20	DMG & Partners	CSE Global	0.49	0.54	Buy	PER12x FY20
06/04/20	Lim & Tan	CSE Global	0.49	0	Buy
06/04/20	CIMB	CSE Global	0.49	0.55	Add
07/17/20	DMG & Partners	CSE Global	0.46	0.54	Buy	PER12x FY20
08/06/20	DBS Vickers	CSE Global	0.53	0.61	Buy	PER10x FY21
08/07/20	DMG & Partners	CSE Global	0.535	0.6	Buy	PER10.8x FY21
08/07/20	UOB Kay Hian	CSE Global	0.535	0.59	Buy	PER12x FY21
08/11/20	CIMB	CSE Global	0.525	0.6	Add
08/11/20	Amfrasers	CSE Global	0.525	0.52	Neutral	PER12x FY21 & PB2x FY21, Cut from $0.61
09/07/20	Lim & Tan	CSE Global	0.495	0	Buy
10/23/20	DBS Vickers	CSE Global	0.46	0.57	Buy	PER10.2x FY21
11/13/20	DBS Vickers	CSE Global	0.45	0.55	Buy	PER10.1x FY21

Cromwell Reit (EUR) - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
04/09/20	DBS Vickers	Cromwell Reit (EUR)	0.36	0.59	Buy

Comfortdelgro - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
02/04/20	DMG & Partners	Comfortdelgro	2.13	2.38	Neutral	DCF
02/06/20	DBS Vickers	Comfortdelgro	2.14	2.45	Buy	DCF, PER18.1x FY20
02/06/20	CIMB	Comfortdelgro	2.14	2.09	Hold
02/17/20	DMG & Partners	Comfortdelgro	2.18	2.25	Neutral	DCF, PER18x FY20
02/17/20	UOB Kay Hian	Comfortdelgro	2.18	2.15	Hold	Buy @ $1.95
02/17/20	DBS Vickers	Comfortdelgro	2.18	2.26	Hold	DCF & PER17.7x FY20
02/17/20	CIMB	Comfortdelgro	2.18	2.08	Hold	Buy @ $1.88
02/19/20	phillip	Comfortdelgro	2.09	2.2	Accumulate	DCF
02/24/20	Amfrasers	Comfortdelgro	2.02	2.28	Outperform	PER17.5x FY20
03/10/20	Amfrasers	Comfortdelgro	1.81	2.28	Outperform	PER17.5x FY20
03/31/20	DBS Vickers	Comfortdelgro	1.48	1.55	Hold	PER15x FY20
03/31/20	CIMB	Comfortdelgro	1.48	1.55	Hold
04/02/20	DMG & Partners	Comfortdelgro	1.47	1.54	Neutral	DCF
04/27/20	OCBC	Comfortdelgro	1.43	1.75	Buy
05/18/20	Kim Eng	Comfortdelgro	1.46	1.99	Buy	DCF
05/20/20	UOB Kay Hian	Comfortdelgro	1.56	1.82	Buy	PER16.7x FY21
05/26/20	phillip	Comfortdelgro	1.54	1.5	Neutral	DCF
05/26/20	DMG & Partners	Comfortdelgro	1.54	1.45	Neutral	DCF
05/26/20	DBS Vickers	Comfortdelgro	1.54	1.5	Hold	PER15x FY20/21
05/26/20	Lim & Tan	Comfortdelgro	1.54	0	Hold
05/26/20	Kim Eng	Comfortdelgro	1.54	1.98	Buy	DCF
05/26/20	CIMB	Comfortdelgro	1.54	1.5	Hold
06/01/20	DBS Vickers	Comfortdelgro	1.44	1.68	Buy	PER16.8x FY20/21
06/02/20	DMG & Partners	Comfortdelgro	1.43	1.65	Buy	DCF, PER15.5x FY21
06/29/20	Kim Eng	Comfortdelgro	1.52	1.98	Buy	DCF
06/29/20	Lim & Tan	Comfortdelgro	1.52	0	Hold
07/01/20	CIMB	Comfortdelgro	1.45	1.46	Hold	PER13.1x FY21
07/02/20	DMG & Partners	Comfortdelgro	1.48	1.65	Buy	DCF, PER16x FY21
07/03/20	DBS Vickers	Comfortdelgro	1.47	1.68	Buy
08/06/20	DMG & Partners	Comfortdelgro	1.39	1.65	Buy	DCF
08/07/20	DBS Vickers	Comfortdelgro	1.39	1.68	Buy
08/17/20	phillip	Comfortdelgro	1.39	1.65	Accumulate	DCF
08/17/20	UOB Kay Hian	Comfortdelgro	1.39	1.78	Buy	PER17.2x FY21
08/17/20	DBS Vickers	Comfortdelgro	1.39	1.63	Buy	PER15x FY21
08/17/20	DMG & Partners	Comfortdelgro	1.39	1.55	Buy	DCF, PER17.6x FY21
08/17/20	CIMB	Comfortdelgro	1.39	1.4	Hold
08/17/20	Kim Eng	Comfortdelgro	1.39	1.76	Buy	DCF
08/19/20	Lim & Tan	Comfortdelgro	1.41	0	Accumulate
08/27/20	Amfrasers	Comfortdelgro	1.46	1.63	Outperform
09/01/20	Kim Eng	Comfortdelgro	1.48	1.76	Buy	DCF
09/04/20	DBS Vickers	Comfortdelgro	1.51	1.96	Buy	PB1.6x FY21
09/21/20	CIMB	Comfortdelgro	1.48	1.7	Add	PER15.6x FY21
09/22/20	Macquarie	Comfortdelgro	1.46	1.51	Neutral	PER15x FY21
09/22/20	UOB Kay Hian	Comfortdelgro	1.46	1.78	Buy
10/05/20	phillip	Comfortdelgro	1.42	1.65	Accumulate
10/07/20	DMG & Partners	Comfortdelgro	1.44	1.7	Buy	DCF
11/05/20	DMG & Partners	Comfortdelgro	1.39	1.7	Buy	PER17.7x FY21
11/12/20	DBS Vickers	Comfortdelgro	1.49	1.96	Buy	PB1.6x FY21
11/13/20	CIMB	Comfortdelgro	1.5	1.7	Add
11/13/20	Kim Eng	Comfortdelgro	1.5	1.76	Buy	DCF
11/13/20	UOB Kay Hian	Comfortdelgro	1.5	1.78	Buy
11/16/20	phillip	Comfortdelgro	1.54	1.83	Buy	DCF
11/24/20	OCBC	Comfortdelgro	1.65	2	Buy
12/07/20	DMG & Partners	Comfortdelgro	1.64	1.9	Buy	PER19x FY21

Clearbridge - Stock calls

 

Date	Analyst	Company	Last	Target	Call	Valuation
02/06/20	Tayrona	Clearbridge	0.139	0.41	Overweight
03/10/20	phillip	Clearbridge	0.116	0.26	Buy	DCF
08/31/20	phillip	Clearbridge	0.171	0.26	Buy	DCF

City Developments - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/02/20	DBS Vickers	City Developments	10.95	13	Buy	RNAV (18% discount), PB1.08x FY2020
02/26/20	OCBC	City Developments	10.66	12.02	Buy
02/27/20	CIMB	City Developments	10.37	12.09	Add
02/27/20	OCBC	City Developments	10.37	12.01	Buy	RNAV (35% discount)
02/27/20	DBS Vickers	City Developments	10.37	13	Buy	RNAV (18% discount), PB1.08x FY2020
02/28/20	UOB Kay Hian	City Developments	10.17	12.5	Buy
03/03/20	phillip	City Developments	9.74	11.89	Buy	RNAV (30% discount), PB0.98x FY20
05/13/20	UOB Kay Hian	City Developments	7.96	9.5	Buy
05/14/20	CIMB	City Developments	7.65	10.13	Add
05/28/20	Lim & Tan	City Developments	7.68	11.2	Buy
05/29/20	DMG & Partners	City Developments	7.67	9.5	Buy	RNAV (45% discount)
06/26/20	Morgan Stanley	City Developments	8.32	10.5	Overweight
07/13/20	OCBC	City Developments	8.73	12.01	Buy
07/14/20	DMG & Partners	City Developments	8.37	9.5	Buy
07/15/20	OCBC	City Developments	8.27	10.74	Buy
07/30/20	DBS Vickers	City Developments	8.28	13	Buy
08/06/20	DBS Vickers	City Developments	8.3	10.5	Buy	RNAV (25% discount), PB0.9x
08/13/20	Lim & Tan	City Developments	8.34	0	Buy on weakness
08/14/20	OCBC	City Developments	8.46	10.64	Buy
08/14/20	CIMB	City Developments	8.46	10.1	Add
08/14/20	DMG & Partners	City Developments	8.46	9.5	Buy	RNAV (45% discount)
08/14/20	UOB Kay Hian	City Developments	8.46	9.2	Buy
08/25/20	phillip	City Developments	8	10.68	Buy	RNAV (30% discount)
09/15/20	Lim & Tan	City Developments	7.98	0	Buy
09/16/20	CIMB	City Developments	7.96	10.1	Add
10/16/20	CIMB	City Developments	7.67	10.1	Add
10/23/20	OCBC	City Developments	7	9.65	Buy
11/30/20	Macquarie	City Developments	7.87	8.2	Neutral
12/01/20	UOB Kay Hian	City Developments	7.8	9.2	Buy
12/01/20	Lim & Tan	City Developments	7.8	0	Accumulate
12/04/20	CIMB	City Developments	7.72	10.1	Add

China Sunsine - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
04/06/20	CIMB	China Sunsine	0.28	0.38	Add	After stock split (1 into 2)
04/06/20	Amfrasers	China Sunsine	0.28	0.6	Outperform
08/14/20	CIMB	China Sunsine	0.32	0.38	Add
08/19/20	Amfrasers	China Sunsine	0.345	0.47	Outperform	DCF
09/16/20	UOB Kay Hian	China Sunsine	0.355	0.31	Sell	EV/Ebitda
10/09/20	CIMB	China Sunsine	0.34	0.42	Add
10/19/20	UOB Kay Hian	China Sunsine	0.395	0.48	Buy	PER8x FY21
11/18/20	CIMB	China Sunsine	0.47	0.55	Add
11/18/20	UOB Kay Hian	China Sunsine	0.47	0.58	Buy

Fu Yu - Stock calls

 

Baltic dry index - 1366

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