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Wednesday, December 30, 2020

DBS Bank - Stock calls

DateAnalystCompanyLastTargetCallValuation
01/03/20UOB Kay HianDBS26.1130Buy
01/08/20CIMBDBS26.0528.29Add
01/08/20Kim EngDBS26.0529.92Buy
01/14/20DMG & PartnersDBS26.125.8NeutralGGM, PB1.28x FY20
02/07/20UOB Kay HianDBS25.728.65Buy
02/13/20Lim & TanDBS25.420Buy
02/13/20JP MorganDBS25.4223Underweight
02/14/20CIMBDBS25.4227.09AddGGM
02/14/20UOB Kay HianDBS25.4228BuyGGM, PB1.39x FY20
02/14/20DMG & PartnersDBS25.4224.8NeutralGGM, PB1.25x FY20
02/14/20Kim EngDBS25.4228.6Buy
02/14/20JefferiesDBS25.4228.5Buy
02/18/20phillipDBS25.4827.3Accumulate
02/18/20CitibankDBS25.4826.8Hold
03/04/20CitibankDBS23.6624.4Hold
03/05/20CIMBDBS23.9124.33Hold
03/05/20OCBCDBS23.9125.5HoldGGM, PB1.3x
03/09/20CitibankDBS2317.5Sell
03/09/20JP MorganDBS2320Underweight
03/10/20phillipDBS21.1527.3Accumulate
03/10/20JefferiesDBS21.1527Buy
03/13/20DMG & PartnersDBS20.221.5NeutralGGM, PB1.09x FY20
03/19/20MacquarieDBS17.920.25Neutral
03/19/20JefferiesDBS17.920Buy
03/19/20JP MorganDBS17.916Underweight
04/01/20JefferiesDBS18.5720Buy
04/01/20CitibankDBS18.5717.5Sell
04/08/20Kim EngDBS19.1121.99Buy
04/13/20phillipDBS19.1427.3Accumulate
04/17/20UOB Kay HianDBS19.3822.1Buy
04/24/20MacquarieDBS18.7418.25Neutral
04/30/20Lim & TanDBS19.20Buy
05/01/20DMG & PartnersDBS19.218.7NeutralGGM, PB0.96x FY20
05/04/20phillipDBS19.9620.59AccumulateGGM, PB1.09x
05/04/20UOB Kay HianDBS19.9622.3Buy
05/04/20JefferiesDBS19.9622.5Buy
05/11/20Kim EngDBS19.722.1Buy
05/11/20CitibankDBS19.719.65Hold
06/08/20phillipDBS22.2820.6Neutral
06/08/20CitibankDBS22.2825.5Buy
06/10/20Lim & TanDBS22.950Hold
06/11/20MacquarieDBS23.0126outperformPB
06/18/20DMG & PartnersDBS21.5718.7Neutral
06/18/20JP MorganDBS21.5719.5Underweight
06/24/20Kim EngDBS21.1322.1Buy
07/01/20CIMBDBS20.8518.8Hold
07/03/20phillipDBS21.2820.6Neutral
07/06/20UOB Kay HianDBS21.5726.22Buy
07/14/20MacquarieDBS21.5426outperformPB
07/20/20UOB Kay HianDBS21.3824.8Buy
07/21/20JefferiesDBS21.2924.5Buy
07/21/20Kim EngDBS21.2922.1Buy
07/30/20MacquarieDBS20.425.5outperformPB
07/30/20OCBCDBS20.420Hold
07/30/20UOB Kay HianDBS20.423.12Buy
07/30/20JP MorganDBS20.419Underweight
07/30/20JefferiesDBS20.420Hold
08/04/20MacquarieDBS19.4524.25outperformPB
08/06/20Lim & TanDBS19.830Accumulate
08/07/20Kim EngDBS20.422.9BuyDDM
08/07/20DMG & PartnersDBS20.418.5NeutralGGM, PB0.94x FY20
08/07/20UOB Kay HianDBS20.422.9BuyGGM, PB01.07x FY21
08/07/20CIMBDBS20.418.8Hold
08/11/20phillipDBS20.621AccumulateGGM, PB1.18x
08/11/20CIMBDBS20.620.46Hold
08/12/20MacquarieDBS20.8524.1outperformPB
08/12/20JP MorganDBS20.8520Neutral
09/02/20MacquarieDBS20.8724.1outperform
09/07/20phillipDBS20.6821Accumulate
09/14/20Kim EngDBS20.5122.9Buy
09/25/20Lim & TanDBS19.80Accumulate
09/30/20UOB Kay HianDBS19.9823.5Buy
09/30/20JP MorganDBS19.9822Overweight
10/01/20CIMBDBS19.9120.46Hold
10/07/20UOB Kay HianDBS20.7123.5Buy
10/07/20OCBCDBS20.7122.5Hold
10/12/20phillipDBS21.0521Neutral
10/21/20Kim EngDBS21.322.9Buy
11/04/20phillipDBS21.4321Neutral
11/05/20Lim & TanDBS21.550Accumulate
11/06/20MacquarieDBS22.4324.1outperform
11/06/20Kim EngDBS22.4324.63BuyDDM
11/06/20UOB Kay HianDBS22.4326.75BuyGGM, PB1.27x FY21
11/06/20CIMBDBS22.4320.46Hold
11/06/20DMG & PartnersDBS22.4325.2BuyGGM
11/06/20OCBCDBS22.4324.5Buy
11/09/20phillipDBS22.4922.6NeutralGGM, PB1.26x FY21
11/09/20JefferiesDBS22.4926Buy
11/09/20CIMBDBS22.4925.51AddGGM
11/16/20OCBCDBS23.9827Buy
11/18/20JefferiesDBS24.6522Hold
11/18/20JP MorganDBS24.6524.5Overweight
11/19/20MacquarieDBS24.6324.1Neutral
11/19/20Lim & TanDBS24.630Hold
11/20/20DMG & PartnersDBS24.4225.2BuyGGM
11/25/20Kim EngDBS25.624.63Sell
11/30/20CIMBDBS25.6828.35AddGGM, PB1.3x FY21
12/01/20UOB Kay HianDBS25.226.75Buy
12/07/20phillipDBS25.6622.6Neutral
12/07/20Kim EngDBS25.6624.63Sell
12/08/20MacquarieDBS25.2624.1Neutral
12/10/20DMG & PartnersDBS25.4530BuyGGM
12/11/20Lim & TanDBS25.050Hold
12/16/20DMG & PartnersDBS25.4630Buy

Dasin Retail - Stock calls

DateAnalystCompanyLastTargetCallValuation
03/10/20phillipDasin Retail0.8050.88AccumulateDDM
05/27/20phillipDasin Retail0.830.91AccumulateDDM
08/11/20DBS VickersDasin Retail0.7850.86BuyDCF
08/24/20phillipDasin Retail0.8150.91AccumulateDDM
09/14/20phillipDasin Retail0.8150.91Accumulate
10/19/20phillipDasin Retail0.80.91Accumulate
11/23/20phillipDasin Retail0.7750.91Accumulate
12/07/20phillipDasin Retail0.760.9BuyDDM

Dairy Farm - Stock calls


DateAnalystCompanyLastTargetCallValuation
03/06/20DMG & PartnersDairy Farm4.755.05HoldDCF
03/06/20DBS VickersDairy Farm4.755.2BuySum of parts
03/06/20CIMBDairy Farm4.754.38ReducePER17x FY20
03/25/20DBS VickersDairy Farm3.964.7BuySum of parts
03/27/20HSBCDairy Farm4.315.05Hold
04/06/20DBS VickersDairy Farm4.314.7Buy
04/09/20DMG & PartnersDairy Farm4.894.95NeutralDCF
04/15/20DBS VickersDairy Farm4.835.59Buy
04/29/20DBS VickersDairy Farm4.755.1BuySum of parts
05/28/20MacquarieDairy Farm4.265.8Outperform
06/08/20DMG & PartnersDairy Farm4.754.95Neutral
06/10/20CIMBDairy Farm55.45HoldPER20x CY21
07/03/20DBS VickersDairy Farm4.665.1Buy
07/03/20CIMBDairy Farm4.154.63HoldPER20x CY21, Buy @ $3.80
07/30/20DMG & PartnersDairy Farm4.154.47NeutralDCF
07/30/20DBS VickersDairy Farm4.154.86BuySum of parts
08/19/20MacquarieDairy Farm4.215.7OutperformDCF
08/28/20DMG & PartnersDairy Farm4.274.47Neutral
09/10/20CIMBDairy Farm3.854.5AddPER20x FY21
10/22/20DMG & PartnersDairy Farm3.784.47Buy
10/26/20DBS VickersDairy Farm3.764.44Buy
12/02/20CIMBDairy Farm4.14.5Add

Tuesday, December 29, 2020

CSE Global - Stock calls


DateAnalystCompanyLastTargetCallValuation
01/08/20UOB Kay HianCSE Global0.560.7Buy
01/08/20DMG & PartnersCSE Global0.560.69Buy
02/05/20Lim & TanCSE Global0.510.68Buy
02/11/20DMG & PartnersCSE Global0.530.69BuyDCF
02/28/20DMG & PartnersCSE Global0.5450.73BuyDCF
02/28/20UOB Kay HianCSE Global0.5450.72Buy
02/28/20CIMBCSE Global0.5450.77AddPER13.5x FY21
03/02/20DBS VickersCSE Global0.520.7BuyPER12x FY20
03/12/20DBS VickersCSE Global0.4650.65BuyPER12x FY20
03/26/20CIMBCSE Global0.350.45Add
03/30/20DMG & PartnersCSE Global0.360.73Buy
04/07/20DMG & PartnersCSE Global0.350.73Buy
04/08/20DMG & PartnersCSE Global0.380.54BuyPER12x FY20
05/06/20DBS VickersCSE Global0.3950.54BuyPER10.6x
06/03/20UOB Kay HianCSE Global0.4750.65BuyPER12.1x FY21
06/04/20DMG & PartnersCSE Global0.490.54BuyPER12x FY20
06/04/20Lim & TanCSE Global0.490Buy
06/04/20CIMBCSE Global0.490.55Add
07/17/20DMG & PartnersCSE Global0.460.54BuyPER12x FY20
08/06/20DBS VickersCSE Global0.530.61BuyPER10x FY21
08/07/20DMG & PartnersCSE Global0.5350.6BuyPER10.8x FY21
08/07/20UOB Kay HianCSE Global0.5350.59BuyPER12x FY21
08/11/20CIMBCSE Global0.5250.6Add
08/11/20AmfrasersCSE Global0.5250.52NeutralPER12x FY21 & PB2x FY21, Cut from $0.61
09/07/20Lim & TanCSE Global0.4950Buy
10/23/20DBS VickersCSE Global0.460.57BuyPER10.2x FY21
11/13/20DBS VickersCSE Global0.450.55BuyPER10.1x FY21

Cromwell Reit (EUR) - Stock calls


DateAnalystCompanyLastTargetCallValuation
04/09/20DBS VickersCromwell Reit (EUR)0.360.59Buy

Comfortdelgro - Stock calls

DateAnalystCompanyLastTargetCallValuation
02/04/20DMG & PartnersComfortdelgro2.132.38NeutralDCF
02/06/20DBS VickersComfortdelgro2.142.45BuyDCF, PER18.1x FY20
02/06/20CIMBComfortdelgro2.142.09Hold
02/17/20DMG & PartnersComfortdelgro2.182.25NeutralDCF, PER18x FY20
02/17/20UOB Kay HianComfortdelgro2.182.15HoldBuy @ $1.95
02/17/20DBS VickersComfortdelgro2.182.26HoldDCF & PER17.7x FY20
02/17/20CIMBComfortdelgro2.182.08HoldBuy @ $1.88
02/19/20phillipComfortdelgro2.092.2AccumulateDCF
02/24/20AmfrasersComfortdelgro2.022.28OutperformPER17.5x FY20
03/10/20AmfrasersComfortdelgro1.812.28OutperformPER17.5x FY20
03/31/20DBS VickersComfortdelgro1.481.55HoldPER15x FY20
03/31/20CIMBComfortdelgro1.481.55Hold
04/02/20DMG & PartnersComfortdelgro1.471.54NeutralDCF
04/27/20OCBCComfortdelgro1.431.75Buy
05/18/20Kim EngComfortdelgro1.461.99BuyDCF
05/20/20UOB Kay HianComfortdelgro1.561.82BuyPER16.7x FY21
05/26/20phillipComfortdelgro1.541.5NeutralDCF
05/26/20DMG & PartnersComfortdelgro1.541.45NeutralDCF
05/26/20DBS VickersComfortdelgro1.541.5HoldPER15x FY20/21
05/26/20Lim & TanComfortdelgro1.540Hold
05/26/20Kim EngComfortdelgro1.541.98BuyDCF
05/26/20CIMBComfortdelgro1.541.5Hold
06/01/20DBS VickersComfortdelgro1.441.68BuyPER16.8x FY20/21
06/02/20DMG & PartnersComfortdelgro1.431.65BuyDCF, PER15.5x FY21
06/29/20Kim EngComfortdelgro1.521.98BuyDCF
06/29/20Lim & TanComfortdelgro1.520Hold
07/01/20CIMBComfortdelgro1.451.46HoldPER13.1x FY21
07/02/20DMG & PartnersComfortdelgro1.481.65BuyDCF, PER16x FY21
07/03/20DBS VickersComfortdelgro1.471.68Buy
08/06/20DMG & PartnersComfortdelgro1.391.65BuyDCF
08/07/20DBS VickersComfortdelgro1.391.68Buy
08/17/20phillipComfortdelgro1.391.65AccumulateDCF
08/17/20UOB Kay HianComfortdelgro1.391.78BuyPER17.2x FY21
08/17/20DBS VickersComfortdelgro1.391.63BuyPER15x FY21
08/17/20DMG & PartnersComfortdelgro1.391.55BuyDCF, PER17.6x FY21
08/17/20CIMBComfortdelgro1.391.4Hold
08/17/20Kim EngComfortdelgro1.391.76BuyDCF
08/19/20Lim & TanComfortdelgro1.410Accumulate
08/27/20AmfrasersComfortdelgro1.461.63Outperform
09/01/20Kim EngComfortdelgro1.481.76BuyDCF
09/04/20DBS VickersComfortdelgro1.511.96BuyPB1.6x FY21
09/21/20CIMBComfortdelgro1.481.7AddPER15.6x FY21
09/22/20MacquarieComfortdelgro1.461.51NeutralPER15x FY21
09/22/20UOB Kay HianComfortdelgro1.461.78Buy
10/05/20phillipComfortdelgro1.421.65Accumulate
10/07/20DMG & PartnersComfortdelgro1.441.7BuyDCF
11/05/20DMG & PartnersComfortdelgro1.391.7BuyPER17.7x FY21
11/12/20DBS VickersComfortdelgro1.491.96BuyPB1.6x FY21
11/13/20CIMBComfortdelgro1.51.7Add
11/13/20Kim EngComfortdelgro1.51.76BuyDCF
11/13/20UOB Kay HianComfortdelgro1.51.78Buy
11/16/20phillipComfortdelgro1.541.83BuyDCF
11/24/20OCBCComfortdelgro1.652Buy
12/07/20DMG & PartnersComfortdelgro1.641.9BuyPER19x FY21

Monday, December 28, 2020

Clearbridge - Stock calls

 

DateAnalystCompanyLastTargetCallValuation
02/06/20TayronaClearbridge0.1390.41Overweight
03/10/20phillipClearbridge0.1160.26BuyDCF
08/31/20phillipClearbridge0.1710.26BuyDCF

City Developments - Stock calls


DateAnalystCompanyLastTargetCallValuation
01/02/20DBS VickersCity Developments10.9513BuyRNAV (18% discount), PB1.08x FY2020
02/26/20OCBCCity Developments10.6612.02Buy
02/27/20CIMBCity Developments10.3712.09Add
02/27/20OCBCCity Developments10.3712.01BuyRNAV (35% discount)
02/27/20DBS VickersCity Developments10.3713BuyRNAV (18% discount), PB1.08x FY2020
02/28/20UOB Kay HianCity Developments10.1712.5Buy
03/03/20phillipCity Developments9.7411.89BuyRNAV (30% discount), PB0.98x FY20
05/13/20UOB Kay HianCity Developments7.969.5Buy
05/14/20CIMBCity Developments7.6510.13Add
05/28/20Lim & TanCity Developments7.6811.2Buy
05/29/20DMG & PartnersCity Developments7.679.5BuyRNAV (45% discount)
06/26/20Morgan StanleyCity Developments8.3210.5Overweight
07/13/20OCBCCity Developments8.7312.01Buy
07/14/20DMG & PartnersCity Developments8.379.5Buy
07/15/20OCBCCity Developments8.2710.74Buy
07/30/20DBS VickersCity Developments8.2813Buy
08/06/20DBS VickersCity Developments8.310.5BuyRNAV (25% discount), PB0.9x
08/13/20Lim & TanCity Developments8.340Buy on weakness
08/14/20OCBCCity Developments8.4610.64Buy
08/14/20CIMBCity Developments8.4610.1Add
08/14/20DMG & PartnersCity Developments8.469.5BuyRNAV (45% discount)
08/14/20UOB Kay HianCity Developments8.469.2Buy
08/25/20phillipCity Developments810.68BuyRNAV (30% discount)
09/15/20Lim & TanCity Developments7.980Buy
09/16/20CIMBCity Developments7.9610.1Add
10/16/20CIMBCity Developments7.6710.1Add
10/23/20OCBCCity Developments79.65Buy
11/30/20MacquarieCity Developments7.878.2Neutral
12/01/20UOB Kay HianCity Developments7.89.2Buy
12/01/20Lim & TanCity Developments7.80Accumulate
12/04/20CIMBCity Developments7.7210.1Add

China Sunsine - Stock calls


DateAnalystCompanyLastTargetCallValuation
04/06/20CIMBChina Sunsine0.280.38AddAfter stock split (1 into 2)
04/06/20AmfrasersChina Sunsine0.280.6Outperform
08/14/20CIMBChina Sunsine0.320.38Add
08/19/20AmfrasersChina Sunsine0.3450.47OutperformDCF
09/16/20UOB Kay HianChina Sunsine0.3550.31SellEV/Ebitda
10/09/20CIMBChina Sunsine0.340.42Add
10/19/20UOB Kay HianChina Sunsine0.3950.48BuyPER8x FY21
11/18/20CIMBChina Sunsine0.470.55Add
11/18/20UOB Kay HianChina Sunsine0.470.58Buy

Fu Yu - Stock calls

 


Friday, December 25, 2020

Malaysia has given SG a "great" Christmas gift by terminating the SG-KL HSR.

https://www.theedgemarkets.com/article/malaysia-go-it-alone-hsr-project-pay-rm300m-compensation-singapore-%E2%80%94-source

Malaysia has terminated SG-KL HSR by paying a discounted penalty of RM$300m.  It was supposed to be RM$500m penalty as stated in the termination clause.

http://sg-stock.blogspot.com/2018/06/the-kl-sg-hsr-is-terminated-officially.html

Either SG is incompetent to collect the RM$500m penalty or Malaysia is too brilliant to get a discount from SG.  In other words, SG has given RM$200m to Malaysia as a Christmas gift.

China Everbright - Stock calls


DateAnalystCompanyLastTargetCallValuation
05/29/20DBS VickersChina Everbright0.1990.49BuyPER7x
08/14/20DBS VickersChina Everbright0.2350.33Buy

China Aviation Oil - Stock calls


DateAnalystCompanyLastTargetCallValuation
01/21/20DMG & PartnersChina Aviation Oil1.281.55Buy
02/27/20CIMBChina Aviation Oil1.161.25HoldPER8.5x FY21
02/28/20DBS VickersChina Aviation Oil1.161.65BuyPER10x FY20
03/12/20DMG & PartnersChina Aviation Oil0.9651.3BuySum of parts
04/22/20DMG & PartnersChina Aviation Oil1.021.3BuySum of parts
04/23/20DMG & PartnersChina Aviation Oil1.021.25BuySum of parts, PB0.9x
05/12/20DMG & PartnersChina Aviation Oil1.021.25BuySum of parts, PER2.6x FY21 (ex-cash)
06/12/20DMG & PartnersChina Aviation Oil1.141.25BuyPB0.9x, PER3.5x FY21 (ex-cash)
07/06/20DMG & PartnersChina Aviation Oil1.021.25BuySum of parts
08/13/20DMG & PartnersChina Aviation Oil0.930.95NeutralSum of parts
08/25/20DBS VickersChina Aviation Oil0.8651.2BuyPER11x FY20/21
09/07/20DBS VickersChina Aviation Oil0.941.2Buy
09/30/20DMG & PartnersChina Aviation Oil0.8951.05Buy
10/13/20DBS VickersChina Aviation Oil11.2Buy
10/14/20DMG & PartnersChina Aviation Oil11.15Buy
11/03/20DBS VickersChina Aviation Oil0.921.2Buy
12/02/20DMG & PartnersChina Aviation Oil1.081.25Buy

Centurion - Stock calls

DateAnalystCompanyLastTargetCallValuation
01/08/20CIMBCenturion0.440.61AddDCF
03/02/20DMG & PartnersCenturion0.4450.49NeutralDCF
03/02/20DBS VickersCenturion0.4450.53BuyDCF
03/18/20CIMBCenturion0.390.58AddDCF
03/30/20DBS VickersCenturion0.3950.41HoldDCF
04/13/20CIMBCenturion0.3850.58Add
04/22/20DBS VickersCenturion0.380.41HoldDCF
04/29/20DMG & PartnersCenturion0.3850.41NeutralDCF
05/18/20DBS VickersCenturion0.3750.42HoldDCF
08/13/20DBS VickersCenturion0.3550.39HoldDCF
08/20/20CIMBCenturion0.370.4Add
09/03/20CIMBCenturion0.350.4AddDCF
10/19/20UOB Kay HianCenturion0.340.44BuyDCF

Stock calls for 24 December 2020