Singtel - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
10/02/20	DMG & Partners	Singtel	2.15	3.1	Buy	Sum of parts
10/02/20	DBS Vickers	Singtel	2.15	2.69	Buy	Sum of parts (10% discount)
10/27/20	Citi Research	Singtel	2.12	3.5	Buy
11/03/20	CIMB	Singtel	2	3.1	Add	Sum of parts
11/13/20	Lim & Tan	Singtel	2.23	0	Buy
11/13/20	UOB Kay Hian	Singtel	2.23	2.8	Buy	DCF
11/13/20	DBS Vickers	Singtel	2.23	2.69	Buy	Sum of parts (10% discount)
11/16/20	Phillip	Singtel	2.3	2.44	Neutral	Sum of parts
11/16/20	OCBC	Singtel	2.3	2.85	Buy
11/16/20	CIMB	Singtel	2.3	3.1	Add	Sum of parts
11/17/20	DMG & Partners	Singtel	2.31	3.1	Buy
12/02/20	Kim Eng	Singtel	2.36	2.88	Buy
12/07/20	CIMB	Singtel	2.34	3.1	Add	Sum of parts
12/07/20	UOB Kay Hian	Singtel	2.34	2.84	Buy	DCF
12/07/20	Lim & Tan	Singtel	2.34	0	Buy
12/08/20	DBS Vickers	Singtel	2.41	2.75	Buy	Sum of parts (10% discount)
01/11/21	UOB Kay Hian	Singtel	2.46	2.8	Buy	DCF
01/19/21	Kim Eng	Singtel	2.45	2.88	Buy	Sum of parts
01/26/21	UOB Kay Hian	Singtel	2.45	2.84	Buy	DCF
02/10/21	CIMB	Singtel	2.41	3.1	Add	Sum of parts
02/11/21	UOB Kay Hian	Singtel	2.4	2.84	Buy
02/11/21	Lim & Tan	Singtel	2.4	0	Buy
02/15/21	Phillip	Singtel	2.38	2.44	Neutral	Sum of parts
02/15/21	Kim Eng	Singtel	2.38	2.88	Buy	Sum of parts
02/15/21	DMG & Partners	Singtel	2.38	3.1	Buy
04/05/21	DBS Vickers	Singtel	2.44	2.75	Buy
04/06/21	DMG & Partners	Singtel	2.48	3.1	Buy
05/14/21	Lim & Tan	Singtel	2.41	0	Accumulate on weakness
05/18/21	CIMB	Singtel	2.37	3.1	Add	Sum of parts
05/18/21	Kim Eng	Singtel	2.37	2.88	Buy	DCF
05/24/21	UOB Kay Hian	Singtel	2.43	2.84	Buy	DCF
05/25/21	DBS Vickers	Singtel	2.44	2.93	Buy
05/28/21	DMG & Partners	Singtel	2.45	3.3	Buy
05/28/21	Kim Eng	Singtel	2.45	2.81	Buy
05/28/21	CIMB	Singtel	2.45	2.9	Add
06/09/21	DBS Vickers	Singtel	2.37	3.01	Buy
06/09/21	Phillip	Singtel	2.37	2.32	Neutral
07/05/21	UOB Kay Hian	Singtel	2.27	2.84	Buy	DCF
07/13/21	DMG & Partners	Singtel	2.28	3	Buy
08/10/21	Kim Eng	Singtel	2.28	2.83	Buy	Sum of parts
08/12/21	DBS Vickers	Singtel	2.31	3.01	Buy
08/13/21	Macquarie	Singtel	2.37	2.84	outperform	DCF
08/13/21	UOB Kay Hian	Singtel	2.37	2.75	Buy	DCF
08/13/21	CIMB	Singtel	2.37	2.9	Add
08/13/21	DMG & Partners	Singtel	2.37	3	Buy
08/17/21	Phillip	Singtel	2.4	2.52	Accumulate	Sum of parts
08/27/21	DBS Vickers	Singtel	2.38	3.13	Buy	Sum of parts
09/01/21	Macquarie	Singtel	2.32	2.83	outperform	Sum of parts
09/07/21	DMG & Partners	Singtel	2.38	3	Buy
09/13/21	CIMB	Singtel	2.4	2.9	Add
09/23/21	Lim & Tan	Singtel	2.47	2.94	Accumulate
09/23/21	DBS Vickers	Singtel	2.47	3.13	Buy
10/04/21	CIMB	Singtel	2.43	2.9	Add	Sum of parts
10/04/21	DMG & Partners	Singtel	2.43	3.37	Buy
10/04/21	UOB Kay Hian	Singtel	2.43	2.75	Buy	DCF, EV/Ebitda13x FY22
10/25/21	Lim & Tan	Singtel	2.57	3	Accumulate

Singapore Post - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
10/20/20	CIMB	Singapore Post	0.69	0.77	Add
10/20/20	DBS Vickers	Singapore Post	0.69	0.64	Fully Valued	DCF, PER14x FY22
11/06/20	Lim & Tan	Singapore Post	0.675	0	Hold
11/09/20	DBS Vickers	Singapore Post	0.67	0.6	Fully Valued	DCF, PER14x FY22
11/09/20	CIMB	Singapore Post	0.67	0.7	Hold
11/11/20	OCBC	Singapore Post	0.685	0.71	Hold
02/05/21	UOB Kay Hian	Singapore Post	0.69	0.75	Hold	Buy @ $0.66
02/05/21	DBS Vickers	Singapore Post	0.69	0.74	Hold	DCF
04/15/21	OCBC	Singapore Post	0.755	0.74	Hold
05/07/21	UOB Kay Hian	Singapore Post	0.745	0.73	Hold
05/07/21	CIMB	Singapore Post	0.745	0.77	Hold
05/07/21	DBS Vickers	Singapore Post	0.745	0.69	Hold	PER24x FY22
05/10/21	Lim & Tan	Singapore Post	0.735	0	Hold
08/11/21	CIMB	Singapore Post	0.65	0.77	Add	PER18.8x CY22
09/03/21	DBS Vickers	Singapore Post	0.655	0.69	Hold
09/08/21	OCBC	Singapore Post	0.66	0.78	Buy