Date | Analyst | Company | Last | Target | Call | Valuation |
05/06/20 | Macquarie | UOB | 19.9 | 21.25 | Outperform | |
05/06/20 | Lim & Tan | UOB | 19.9 | 0 | Buy | |
05/06/20 | DMG & Partners | UOB | 19.9 | 19.4 | Neutral | GGM, PB0.83x FY20 |
05/08/20 | DBS Vickers | UOB | 19.88 | 17.5 | Hold | GGM, PB0.7x FY21 |
05/08/20 | Citi Research | UOB | 19.88 | 18 | Sell | |
05/08/20 | Jefferies | UOB | 19.88 | 19 | Hold | |
05/11/20 | phillip | UOB | 19.9 | 20.7 | Accumulate | GGM, PB0.9x FY20 |
05/11/20 | Kim Eng | UOB | 19.9 | 22.42 | Buy | |
05/11/20 | CIMB | UOB | 19.9 | 19.04 | Hold | |
05/14/20 | OCBC | UOB | 19.69 | 21.5 | Hold | PB1x |
06/01/20 | DBS Vickers | UOB | 19.5 | 17.5 | Hold | GGM, PB0.7x FY21 |
06/08/20 | phillip | UOB | 22 | 20.7 | Neutral | |
06/08/20 | Citi Research | UOB | 22 | 25 | Buy | |
06/08/20 | Lim & Tan | UOB | 22 | 0 | Hold | |
06/11/20 | Macquarie | UOB | 23.1 | 23 | Neutral | PB |
06/18/20 | DMG & Partners | UOB | 21.03 | 19.4 | Neutral | |
06/26/20 | Morgan Stanley | UOB | 20.27 | 22.9 | Overweight | |
07/01/20 | CIMB | UOB | 20.23 | 19.04 | Hold | GGM |
07/03/20 | phillip | UOB | 20.61 | 20.7 | Neutral | |
07/21/20 | Jefferies | UOB | 20.55 | 22 | Hold | |
07/21/20 | Kim Eng | UOB | 20.55 | 22.42 | Buy | |
07/22/20 | DBS Vickers | UOB | 20.7 | 20.9 | Hold | GGM, PB0.8x FY21 |
07/30/20 | Macquarie | UOB | 20.02 | 21 | Neutral | PB |
07/30/20 | OCBC | UOB | 20.02 | 21.5 | Hold | |
07/30/20 | Jefferies | UOB | 20.02 | 20 | Hold | |
08/04/20 | Macquarie | UOB | 19.07 | 21 | Neutral | PB |
08/06/20 | Lim & Tan | UOB | 19.42 | 0 | Accumulate | |
08/07/20 | Kim Eng | UOB | 19.76 | 20.79 | Hold | DDM |
08/07/20 | DMG & Partners | UOB | 19.76 | 18.8 | Neutral | GGM, PB0.8x FY20 |
08/07/20 | DBS Vickers | UOB | 19.76 | 22.2 | Buy | GGM, PB0.9x FY21 |
08/07/20 | CIMB | UOB | 19.76 | 19.04 | Hold | |
08/11/20 | CIMB | UOB | 19.58 | 20.58 | Hold | |
08/11/20 | Jefferies | UOB | 19.58 | 18 | Hold | |
08/12/20 | Macquarie | UOB | 19.65 | 20.85 | Neutral | |
08/12/20 | phillip | UOB | 19.65 | 20.4 | Accumulate | GGM, PB0.87x |
09/02/20 | Macquarie | UOB | 19.62 | 20.85 | Neutral | |
09/07/20 | phillip | UOB | 19.45 | 20.4 | Accumulate | |
09/11/20 | DBS Vickers | UOB | 19.39 | 22.2 | Buy | GGM, PB0.9x FY21 |
09/21/20 | Kim Eng | UOB | 19.21 | 20.79 | Hold | |
10/01/20 | CIMB | UOB | 19.03 | 20.58 | Hold | |
10/07/20 | OCBC | UOB | 19.53 | 21.5 | Buy | |
10/12/20 | phillip | UOB | 19.45 | 20.4 | Accumulate | |
10/21/20 | Kim Eng | UOB | 19.63 | 20.79 | Hold | |
10/22/20 | DBS Vickers | UOB | 19.92 | 22.2 | Buy | |
11/03/20 | DBS Vickers | UOB | 19.03 | 22.2 | Buy | GGM, PB0.85x FY21 |
11/04/20 | phillip | UOB | 19.45 | 20.4 | Accumulate | |
11/04/20 | Lim & Tan | UOB | 19.45 | 0 | Accumulate | |
11/05/20 | CIMB | UOB | 19.8 | 22.52 | Add | GGM |
11/05/20 | Kim Eng | UOB | 19.8 | 21.24 | Hold | DDM |
11/06/20 | OCBC | UOB | 20.44 | 21.5 | Buy | |
11/09/20 | phillip | UOB | 20.45 | 21.1 | Accumulate | GGM, PB0.83x FY21 |
11/09/20 | Jefferies | UOB | 20.45 | 22 | Hold | |
11/13/20 | OCBC | UOB | 21.6 | 24.3 | Buy | |
11/18/20 | Jefferies | UOB | 22.04 | 25 | Buy | |
11/24/20 | DBS Vickers | UOB | 23.13 | 24.8 | Buy | GGM, PB1x FY21 |
11/25/20 | Kim Eng | UOB | 23.6 | 21.24 | Sell | |
11/30/20 | CIMB | UOB | 23.06 | 27.72 | Add | GGM, PB1.1x FY21 |
12/01/20 | Macquarie | UOB | 22.51 | 23.5 | Outperform | |
12/07/20 | phillip | UOB | 23.05 | 21.1 | Neutral | |
12/07/20 | Kim Eng | UOB | 23.05 | 21.24 | Sell | |
12/16/20 | Macquarie | UOB | 22.89 | 26.25 | Outperform | |
01/04/21 | DBS Vickers | UOB | 22.59 | 24.8 | Buy | |
01/04/21 | CIMB | UOB | 22.59 | 27.72 | Add | |
01/06/21 | phillip | UOB | 22.57 | 21.1 | Neutral | |
01/12/21 | OCBC | UOB | 23.79 | 26.3 | Buy | GGM, PB1.2x |
01/25/21 | Macquarie | UOB | 23.7 | 26.25 | Outperform | |
01/27/21 | DBS Vickers | UOB | 23.33 | 26.8 | Buy | GGM, PB1.04x FY21 |
01/27/21 | Kim Eng | UOB | 23.33 | 25.57 | Hold | |
02/02/21 | Macquarie | UOB | 23.55 | 26.6 | Outperform | |
02/04/21 | phillip | UOB | 23.52 | 21.1 | Neutral | |
02/17/21 | DMG & Partners | UOB | 24.02 | 21 | Neutral | |
02/25/21 | DBS Vickers | UOB | 23.88 | 26.8 | Buy | GGM, PB1.04x FY21 |
02/25/21 | Lim & Tan | UOB | 23.88 | 0 | Accumulate | |
02/26/21 | Macquarie | UOB | 24.64 | 26.6 | Outperform | |
02/26/21 | DBS Vickers | UOB | 24.64 | 27.6 | Buy | |
02/26/21 | Kim Eng | UOB | 24.64 | 26.24 | Hold | |
02/26/21 | CIMB | UOB | 24.64 | 27.72 | Add | GGM |
03/01/21 | OCBC | UOB | 24.62 | 27.3 | Buy | |
03/01/21 | DMG & Partners | UOB | 24.62 | 26.4 | Neutral | GGM, PB1.05x |
03/03/21 | phillip | UOB | 24.99 | 28.7 | Accumulate | PB1.17x |
04/01/21 | CIMB | UOB | 25.83 | 27.72 | Add | |
04/01/21 | DBS Vickers | UOB | 25.83 | 27.6 | Buy | |
04/05/21 | phillip | UOB | 25.8 | 28.7 | Accumulate | |
04/20/21 | DBS Vickers | UOB | 26.23 | 29.2 | Buy | GGM, PB1.1x FY22 |
04/22/21 | Macquarie | UOB | 25.79 | 29 | Outperform | |
05/06/21 | OCBC | UOB | 26.3 | 29 | Buy | PB |
05/06/21 | Lim & Tan | UOB | 26.3 | 0 | Accumulate | |
05/07/21 | phillip | UOB | 26.03 | 28.7 | Accumulate | GGM, PB1.17x FY21 |
05/07/21 | Kim Eng | UOB | 26.03 | 29.34 | Buy | |
05/07/21 | DMG & Partners | UOB | 26.03 | 30.2 | Buy | |
05/07/21 | CIMB | UOB | 26.03 | 28.84 | Add | |
05/12/21 | Macquarie | UOB | 26.18 | 30 | Outperform | |
06/02/21 | DBS Vickers | UOB | 26.31 | 29.2 | Buy | GGM, PB1.1x FY22 |
06/07/21 | phillip | UOB | 26.1 | 28.7 | Accumulate | |
06/07/21 | Kim Eng | UOB | 26.1 | 29.34 | Buy | |
06/29/21 | CIMB | UOB | 25.75 | 28.84 | Add | |
07/05/21 | Macquarie | UOB | 25.85 | 30 | Outperform | |
07/09/21 | phillip | UOB | 25.58 | 28.7 | Accumulate | |
07/23/21 | DBS Vickers | UOB | 25.92 | 29.2 | Buy | PB |
07/29/21 | CIMB | UOB | 25.92 | 28.84 | Add | |
08/04/21 | DBS Vickers | UOB | 25.85 | 29.2 | Buy | GGM, PB1.1x FY22 |
08/04/21 | Lim & Tan | UOB | 25.85 | 30 | Buy | |
08/05/21 | phillip | UOB | 26.31 | 29 | Accumulate | GGM, PB1.17x FY21 |
08/05/21 | Kim Eng | UOB | 26.31 | 29.34 | Buy | |
08/06/21 | Macquarie | UOB | 26.49 | 30 | Outperform | |
08/06/21 | DMG & Partners | UOB | 26.49 | 30.2 | Buy | |
08/06/21 | CIMB | UOB | 26.49 | 29 | Add | |
08/06/21 | OCBC | UOB | 26.49 | 30.5 | Buy | GGM, PB1.32x |
Friday, August 20, 2021
UOB Bank - Stock calls
Unusual - Stock calls
Date | Analyst | Company | Last | Target | Call | Valuation |
05/28/20 | UOB Kay Hian | Unusual | 0.135 | 0.123 | Hold | Buy @ $0.111 |
06/11/20 | DMG & Partners | Unusual | 0.133 | 0.16 | Buy | DCF |
Stock calls for 20 August 2021
Date | Analyst | Company | Last | Target | Call | Valuation |
08/20/21 | DBS Vickers | ARA Hospitality | 0.495 | 0.75 | Buy | DCF |
08/20/21 | Lim & Tan | Avi-Tech | 0.41 | 0 | Hold | |
08/20/21 | CIMB | Hong Leong Asia | 0.835 | 1.05 | Add | Sum of parts |
08/20/21 | OCBC | Yanlord | 1.19 | 1.2 | Hold |
US ISM PMI fell again in July 2021.
The prices had decreased to 85.7 (-6.4) but still remained high because of persistent high freight costs, high crude prices, and high material prices which still maintained the supplier’s deliveries at a high level of 72.5 (-2.6) as a higher number indicated slower deliveries. The producers had a reduction on their inventories (48.9, +2.2) because of freight issues and higher costs which drove them to increase local raw material usages (Est’d +5.1).
The producers increase their employment to prepare for Q4 festival orders. However, the supplier’s deliveries impeded their production capabilities (58.4, -2.4) and this caused further declines in the customers’ inventories. My primary concern would be the declines in new order (64.9, -1.1), new export order (55.7, -0.5) and new local order (Est’d -0.6) because these 3 indicators showed that overseas and local consumers were cutting back on their spendings. Since the local consumption constituted 70% of the US GDP, a significant pull-back would affect the GDP growth tremendously.
The backlog of order increased to 65 (+0.5) because the producers couldn’t increase their production to meet customers’ demands due to supply chain disruption problems.
All the above factors caused the PMI to decrease to 59.5 (-1.1) which was the lowest since February 2021. In conclusion, the June PMI indicated that the US economic growth was in a downward trajectory and would experience a diminishing marginal GDP growth in the future.
United Hamspire - Stock calls
Date | Analyst | Company | Last | Target | Call | Valuation |
12/17/20 | UOB Kay Hian | United Hamspire | 0.58 | 0.92 | Buy | DDM |
01/11/21 | UOB Kay Hian | United Hamspire | 0.645 | 0.92 | Buy | |
03/02/21 | UOB Kay Hian | United Hamspire | 0.67 | 0.95 | Buy | |
05/17/21 | UOB Kay Hian | United Hamspire | 0.69 | 0.95 | Buy |
United Global - Stock calls
Date | Analyst | Company | Last | Target | Call | Valuation |
08/18/21 | SAC Capital | United Global | 0.4 | 0.445 | Hold |
Uni-Asia - Stock calls
Date | Analyst | Company | Last | Target | Call | Valuation |
08/26/20 | Amfrasers | Uni-Asia | 0.45 | 0.54 | Neutral | |
05/24/21 | Amfrasers | Uni-Asia | 0.665 | 0.91 | Outperform | Sum of parts |
06/25/21 | Amfrasers | Uni-Asia | 0.85 | 0.91 | Outperform | Sum of parts |
07/07/21 | Amfrasers | Uni-Asia | 0.93 | 1.42 | Outperform | Sum of parts |
08/17/21 | Amfrasers | Uni-Asia | 1.09 | 1.56 | Buy | Sum of parts, PB0.73x FY21 |
Stock calls for 19 August 2021
Date | Analyst | Company | Last | Target | Call | Valuation |
08/19/21 | DMG & Partners | Bumitama | 0.47 | 0.47 | Neutral | |
08/19/21 | UOB Kay Hian | Hong Leong Asia | 0.855 | 1.38 | Buy | |
08/19/21 | Lim & Tan | Overseas Edu | 0.26 | 0 | Hold | |
08/19/21 | Lim & Tan | Q&M | 0.81 | 1 | Buy | |
08/19/21 | Amfrasers | Sasseur | 0.935 | 0.97 | Neutral | DDM |
08/19/21 | OCBC | Thai Beverage | 0.68 | 0.91 | Buy |
