Stock calls for 14 December 2022

Date	Analyst	Company	Last	Target	Call	Valuation
12/14/22	DBS Vickers	Dairy Farm	2.87	3.9	Buy
12/14/22	Lim & Tan	Digicore Reit	0.615	0.87	Buy
12/14/22	Lim & Tan	Keppel Corp	7.44	9.18	Accumulate
12/14/22	Lim & Tan	PanUnited	0.405	0.5	Buy
12/14/22	DBS Vickers	Sheng Siong	1.63	1.92	Buy
12/14/22	UOB Kay Hian	Singtel	2.65	3.02	Buy

Latest global fund manager survey!

The pessimism among the fund managers has stopped deteriorating which bodes well for the economy.

The biggest risk to the fund managers is still inflation.

The Deutsche Bank survey:

The stagflationary risk is very high in 2023.

The next US recession is like to happen in 2023.

Bukit Sembawang - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/24/22	DBS Vickers	Bukit Sembawang	4.96	5.92	Buy
05/30/22	Lim & Tan	Bukit Sembawang	5.18	5.92	Accumulate
06/28/22	DBS Vickers	Bukit Sembawang	4.91	5.92	Buy	RNAV (45% discount)
07/06/22	Lim & Tan	Bukit Sembawang	4.9	5.92	Buy

Broadway - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
03/22/22	Lim & Tan	Broadway	0.2	0	Accumulate

BRC Asia - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/03/22	UOB Kay Hian	BRC Asia	1.54	1.76	Buy
01/11/22	Lim & Tan	BRC Asia	1.54	2	Accumulate
01/27/22	CIMB	BRC Asia	1.56	2.1	Add
02/10/22	CIMB	BRC Asia	1.64	2.1	Add
02/11/22	Lim & Tan	BRC Asia	1.7	2	Accumulate
02/14/22	Phillip	BRC Asia	1.68	1.84	Buy	PER11x FY22
02/16/22	UOB Kay Hian	BRC Asia	1.69	2.02	Buy	PER8.8x FY22
03/14/22	Lim & Tan	BRC Asia	1.58	0	Buy
05/05/22	CIMB	BRC Asia	1.65	2.1	Add
05/12/22	CIMB	BRC Asia	1.65	2.5	Add
05/20/22	Phillip	BRC Asia	1.69	2.26	Buy	PER8x FY22
05/27/22	UOB Kay Hian	BRC Asia	1.7	2.15	Buy	PER7x FY22
05/31/22	SAC Capital	BRC Asia	1.77	1.92	Hold
06/08/22	DBS Vickers	BRC Asia	1.75	2.4	Buy	PER8.2x FY23
08/04/22	DBS Vickers	BRC Asia	1.71	2.4	Buy
08/05/22	Phillip	BRC Asia	1.7	2.26	Buy	PER8x FY22
08/18/22	UOB Kay Hian	BRC Asia	1.7	2	Buy	PER7x FY22
09/22/22	CIMB	BRC Asia	1.65	2.5	Add	PB1.74x CY22
11/30/22	DBS Vickers	BRC Asia	1.77	2.4	Buy
12/02/22	UOB Kay Hian	BRC Asia	1.82	2.42	Buy	PER7x FY23
12/02/22	DBS Vickers	BRC Asia	1.82	2.22	Buy	PER8.2x FY23
12/02/22	CIMB	BRC Asia	1.82	2.5	Add
12/05/22	Phillip	BRC Asia	1.83	2.3	Buy	PER7x FY22

Stock calls for 13 December 2022

Date	Analyst	Company	Last	Target	Call	Valuation
12/13/22	DBS Vickers	Ascendas India Trust	1.12	1.5	Buy
12/13/22	DBS Vickers	ESR-Reit	0.365	0.44	Buy
12/13/22	Citi Research	Ifast Corp	5.92	3.8	Sell

Boustead Projects - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
06/10/22	CIMB	Boustead Projects	0.9	1.25	Add	RNAV (25% disc)
11/24/22	CIMB	Boustead Projects	0.795	1.35	Add	RNAV (25% disc)