Singapore Stock Exchange - Equity Investments

Thursday, September 19, 2024

Capitaland Integrated Commercial Trust - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
05/02/23	Uob Kay Hian	Capitaland Integrated Commercial Trust	2.03	2.29	Buy	DDM
05/02/23	OCBC	Capitaland Integrated Commercial Trust	2.03	2.21	Buy
05/02/23	DMG & Partners	Capitaland Integrated Commercial Trust	2.03	2	Neutral	DDM
05/05/23	Citi Research	Capitaland Integrated Commercial Trust	2.07	2.2	Buy
08/01/23	DBS Vickers	Capitaland Integrated Commercial Trust	2.04	2.4	Buy
08/02/23	Uob Kay Hian	Capitaland Integrated Commercial Trust	2.04	2.2	Buy	DDM
08/02/23	DBS Vickers	Capitaland Integrated Commercial Trust	2.04	2.3	Buy
08/02/23	DMG & Partners	Capitaland Integrated Commercial Trust	2.04	2	Neutral	DDM
08/02/23	Lim & Tan	Capitaland Integrated Commercial Trust	2.04	0	Hold
08/03/23	CIMB	Capitaland Integrated Commercial Trust	2.01	2.35	Add	DDM
08/03/23	OCBC	Capitaland Integrated Commercial Trust	2.01	2.19	Buy
09/15/23	Uob Kay Hian	Capitaland Integrated Commercial Trust	1.9	2.2	Buy
10/05/23	Uob Kay Hian	Capitaland Integrated Commercial Trust	1.78	2.09	Buy
10/27/23	DMG & Partners	Capitaland Integrated Commercial Trust	1.71	2	Buy
10/27/23	OCBC	Capitaland Integrated Commercial Trust	1.71	2	Buy
10/27/23	DBS Vickers	Capitaland Integrated Commercial Trust	1.71	2.3	Buy
10/27/23	Citi Research	Capitaland Integrated Commercial Trust	1.71	2.2	Buy	DDM
10/30/23	Uob Kay Hian	Capitaland Integrated Commercial Trust	1.74	2.02	Buy	DDM
10/30/23	CIMB	Capitaland Integrated Commercial Trust	1.74	2.17	Add	DDM
12/01/23	Uob Kay Hian	Capitaland Integrated Commercial Trust	1.82	2.02	Buy
01/02/24	Uob Kay Hian	Capitaland Integrated Commercial Trust	2.06	2.02	Buy
01/03/24	Uob Kay Hian	Capitaland Integrated Commercial Trust	2.04	2.24	Buy
01/24/24	DBS Vickers	Capitaland Integrated Commercial Trust	1.99	2.3	Buy
02/06/24	Lim & Tan	Capitaland Integrated Commercial Trust	1.96	2.15	Hold
02/07/24	Uob Kay Hian	Capitaland Integrated Commercial Trust	1.98	2.34	Buy	DDM
02/07/24	Kim Eng	Capitaland Integrated Commercial Trust	1.98	2.1	Buy	DDM
02/07/24	CIMB	Capitaland Integrated Commercial Trust	1.98	2.18	Add	DDM
02/07/24	DMG & Partners	Capitaland Integrated Commercial Trust	1.98	2.2	Buy	DDM
02/07/24	Citi Research	Capitaland Integrated Commercial Trust	1.98	2.2	Buy	DDM
02/07/24	DBS Vickers	Capitaland Integrated Commercial Trust	1.98	2.3	Buy
03/13/24	Uob Kay Hian	Capitaland Integrated Commercial Trust	1.96	2.34	Buy	DDM
03/13/24	DBS Vickers	Capitaland Integrated Commercial Trust	1.96	2.3	Buy
03/13/24	Lim & Tan	Capitaland Integrated Commercial Trust	1.96	2.2	Hold
04/22/24	Uob Kay Hian	Capitaland Integrated Commercial Trust	1.86	2.34	Buy	DDM
04/22/24	CIMB	Capitaland Integrated Commercial Trust	1.86	2.18	Add	DDM
05/21/24	Uob Kay Hian	Capitaland Integrated Commercial Trust	1.97	2.34	Buy	DDM
06/07/24	Kim Eng	Capitaland Integrated Commercial Trust	1.99	2.05	Buy	DDM
06/07/24	Uob Kay Hian	Capitaland Integrated Commercial Trust	1.99	2.22	Buy
06/26/24	DMG & Partners	Capitaland Integrated Commercial Trust	1.97	2.2	Buy
07/16/24	Uob Kay Hian	Capitaland Integrated Commercial Trust	2.09	2.29	Buy	DDM
07/29/24	Kim Eng	Capitaland Integrated Commercial Trust	2.05	2.25	Buy	DDM
08/13/24	DBS Vickers	Capitaland Integrated Commercial Trust	2.1	2.3	Buy
08/14/24	DMG & Partners	Capitaland Integrated Commercial Trust	2.1	2.3	Buy	DDM
08/16/24	CIMB	Capitaland Integrated Commercial Trust	2.1	2.21	Add	DDM
09/04/24	CIMB	Capitaland Integrated Commercial Trust	2.13	2.21	Add	DDM
09/04/24	DMG & Partners	Capitaland Integrated Commercial Trust	2.13	2.3	Buy	DDM
09/04/24	OCBC	Capitaland Integrated Commercial Trust	2.13	2.32	Buy
09/09/24	Citi Research	Capitaland Integrated Commercial Trust	2.14	2.21	Neutral	DDM & RNAV

Stock calls for 19 September 2024

Date	Analyst	Company	Last	Target	Call	Valuation
09/19/24	DMG & Partners	APAC Realty	0.375	0.42	Buy	DCF
09/19/24	Lim & Tan	Daiwa House	0.64	0.71	Accumulate
09/19/24	Kim Eng	Sembcorp Industries	5.3	6	Buy
09/19/24	OCBC	SIA	6.6	6.84	Hold
09/19/24	DBS Vickers	Starhill	0.535	0.68	Buy

The market is projecting a 50bps Fed rate cut now! - Part 3.

Why did we say this 50bps cut epitomised a deeper problem? Furthermore, the US Fed had indicated that there would be more to come in 2024.

https://sg-stock.blogspot.com/2024/09/the-market-is-projecting-50bps-fed-rate_19.html

Let's take a look at the circumstances whereby the US Fed undertook 50bps cuts in the past.

1. 2008 Recession - US Fed implemented several 50 bps reductions.

2. 9/11 2001 terrorism - US Fed made a 50bps reduction and some emergency rate cuts.

3. 1997/98 Asian financial crisis - US made a 50bps reduction.

When we look at the above circumstances, we can tell that the US Fed will cut rates by 50bps under severe circumstances. By cutting the Fed rates by 50bps shows that the US is in a severe circumstance now. Thus, the US won't need to fudge its economic data anymore and we believe the future data will look bleaker.

The market is projecting a 50bps Fed rate cut now! - Part 2.

The market has gotten it right! The US Fed cut its rates by 50bps but this cut underlies a deeper problem (economic slowdown).

https://sg-stock.blogspot.com/2024/09/the-market-is-projecting-50bps-fed-rate.html

However, this significant rate cut is a testament that the US economy is in a dire strait because this action proves that the US has been fudging its economic data. We've also highlighted this fudging previously (See below).

https://sg-stock.blogspot.com/2024/09/is-us-fudging-its-gdp-growth-lets-look.html

Furthermore, the US Fed has indicated another 2 interest rate cuts (see the dot plot chart) this year which indicates an economic slowdown.