Hongkong Land - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/17/23	DBS Vickers	Hongkong Land	4.9	5.93	Buy	RNAV (50% disc)
03/03/23	Lim & Tan	Hongkong Land	4.63	5.19	Buy on weakness
03/06/23	DBS Vickers	Hongkong Land	4.53	5.33	Buy	RNAV (55% discount)
03/08/23	CIMB	Hongkong Land	4.5	4.4	Hold
04/04/23	Lim & Tan	Hongkong Land	4.4	5.11	Accumulate
05/19/23	Lim & Tan	Hongkong Land	4.38	5.11	Accumulate
06/30/23	DBS Vickers	Hongkong Land	3.97	5.33	Buy	RNAV (55% discount)
07/26/23	CIMB	Hongkong Land	3.6	4	Hold	RNAV (60% disc)
08/01/23	DBS Vickers	Hongkong Land	3.67	4.56	Buy	RNAV (60% disc)
10/19/23	DBS Vickers	Hongkong Land	3.45	4.56	Buy
01/08/24	Morgan Stanley	Hongkong Land	3.44	3.8	Equal-weight	Cut from $5.90

Stock calls for 1 March 2024

Date	Analyst	Company	Last	Target	Call	Valuation
03/01/24	CIMB	Centurion	0.425	0.63	Add	RNAV
03/01/24	Lim & Tan	Centurion	0.425	0	Accumulate
03/01/24	DMG & Partners	City Developments	5.67	8	Buy	RNAV (45% disc)
03/01/24	DBS Vickers	Comfortdelgro	1.35	1.67	Buy
03/01/24	Lim & Tan	Comfortdelgro	1.35	1.57	Accumulate
03/01/24	CIMB	CSE Global	0.425	0.62	Add
03/01/24	Kim Eng	CSE Global	0.425	0.71	Buy
03/01/24	UOB Kay Hian	CSE Global	0.425	0.57	Buy
03/01/24	DBS Vickers	Daiwa House	0.64	0.75	Buy	DCF
03/01/24	UOB Kay Hian	First Resources	1.42	1.65	Buy	PER8x FY24
03/01/24	DMG & Partners	First Resources	1.42	1.4	Neutral	PER10x FY24
03/01/24	Kim Eng	First Resources	1.42	1.45	Hold
03/01/24	DMG & Partners	Frencken	1.6	1.8	Buy	PER16x FY25
03/01/24	DBS Vickers	IHH Healthcare	1.77	2.18	Buy	Ringgit $7.60 target price, Sum of parts
03/01/24	DBS Vickers	Mapletree Logistics	1.48	1.88	Buy
03/01/24	phillip	OCBC	12.98	14.96	Buy	GGM, PB1.29x FY22
03/01/24	Kim Eng	Propnex	0.875	0.94	Hold
03/01/24	UOB Kay Hian	Riverstone	0.675	0.88	Buy	PER17.6x FY24
03/01/24	OCBC	SATS	2.62	3.09	Buy	EV/Ebitda
03/01/24	phillip	Sheng Siong	1.55	1.66	Accumulate	PER18x
03/01/24	UOB Kay Hian	ST Engineering	3.98	4.5	Buy	DCF
03/01/24	Kim Eng	UMS	1.44	1.49	Hold
03/01/24	CIMB	Yangzijiang Financial	0.345	0.45	Add	Sum of parts
03/01/24	UOB Kay Hian	Yangzijiang Shipping	1.75	2.19	Buy	PER9.4x
03/01/24	DBS Vickers	Yanlord	0.47	0.67	Buy	RNAV (74% disc)

US core PCE index.

Let's take a look at US core PCE which is the US Fed's favourite inflation indicator.

US core PCE (y-o-y): 2.8%

US core PCE (m-o-m): 0.4%

It looks like US core PCE is not going to decline much further anymore because its low monthly core PCE is unsustainable.