Aoxin Q&M - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
11/19/21	UOB Kay Hian	Aoxin Q&M	0.27	0.37	Buy	PER16x FY22
01/21/22	UOB Kay Hian	Aoxin Q&M	0.245	0.37	Buy	PER16x FY22

Stock calls for 26 May 2022

Date	Analyst	Company	Last	Target	Call	Valuation
05/26/22	UOB Kay Hian	CDL Hospitality	1.27	1.57	Buy	DDM
05/26/22	Lim & Tan	Civmec	0.645	1	Buy
05/26/22	DBS Vickers	Keppel Pacific	0.685	0.86	Buy	DCF
05/26/22	DBS Vickers	Manulife US Reit	0.59	0.7	Buy	DCF
05/26/22	OCBC	Netlink	0.99	1.07	Buy
05/26/22	DBS Vickers	Prime US Reit	0.715	0.88	Buy	DCF
05/26/22	UOB Kay Hian	UMS	1.14	1.45	Buy	PER15.4x FY22

Analyses of US main street economic indicators. - Part 8

The US economic prognosis is getting worse.  Why?  Let's take a look at the recent economic indicators.

The Richmond Fed manufacturing index (-9) is showing a reduction in US manufacturing activities after the declines in New York and Philadelphia manufacturing indexes.

The US retail sales are having diminishing growth because of the decline in sales volumes and high inflation.  We had already explained this in our previous post below.

http://sg-stock.blogspot.com/2022/04/us-retail-sales-plunged-again.html

The rise in the inventory to sales spread is depicting the decline in sales volume because the consumers reduce their purchases (quantities) due to the high inflation.

Next, we would like to highlight that excessive liquidity is still highly prevalent in the US financial system because the overnight repo market has breached the US$2T mark for the first time.  What does this mean?

This means that the investors can't find any good investment opportunities in a dour economy but to park their monies with the FED to earn the measly 0.8% risk-free interest rate.

Furthermore, many prominent experts are starting to give very negative economic and financial prognoses.

Last but not least, all these factors cause the put/call ratio to surge because the investors turn bearish and increase their hedging.

Amara - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
08/11/21	Lim & Tan	Amara	0.37	0	Accumulate

AIMS AMP Cap Ind Reit - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
06/09/21	DBS Vickers	AIMS AMP Cap Ind Reit	1.43	1.6	Buy	DCF
07/09/21	DMG & Partners	AIMS AMP Cap Ind Reit	1.53	1.7	Buy
08/02/21	DBS Vickers	AIMS AMP Cap Ind Reit	1.58	1.6	Hold	DCF
10/01/21	DBS Vickers	AIMS AMP Cap Ind Reit	1.44	1.6	Buy	DCF, PB1.19x
10/04/21	Kim Eng	AIMS AMP Cap Ind Reit	1.42	1.6	Buy	DDM
10/06/21	DMG & Partners	AIMS AMP Cap Ind Reit	1.41	1.72	Buy
10/14/21	Kim Eng	AIMS AMP Cap Ind Reit	1.49	1.65	Buy	DDM
10/14/21	Lim & Tan	AIMS AMP Cap Ind Reit	1.49	0	Accumulate
01/27/22	Lim & Tan	AIMS AMP Cap Ind Reit	1.43	0	Accumulate on weakness
01/28/22	Kim Eng	AIMS AMP Cap Ind Reit	1.4	1.65	Buy	DDM
04/28/22	DBS Vickers	AIMS AMP Cap Ind Reit	1.42	1.55	Buy	DCF
04/28/22	DMG & Partners	AIMS AMP Cap Ind Reit	1.42	1.66	Buy	DDM
04/29/22	Kim Eng	AIMS AMP Cap Ind Reit	1.43	1.7	Buy	DDM

AEM - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
06/21/21	Kim Eng	AEM	3.67	5.56	Buy
07/06/21	Kim Eng	AEM	3.92	5.56	Buy
08/10/21	CIMB	AEM	4.17	4.61	Add	PER13.4x CY22
08/10/21	DBS Vickers	AEM	4.17	4.98	Buy	PER13.7x FY22
08/10/21	Kim Eng	AEM	4.17	5.77	Buy
09/01/21	CIMB	AEM	4.14	4.78	Add
09/01/21	DBS Vickers	AEM	4.14	4.98	Buy	PER13.7x FY22
10/11/21	Kim Eng	AEM	3.94	5.77	Buy
10/20/21	UOB Kay Hian	AEM	4.13	4.32	Hold
11/05/21	CIMB	AEM	4.13	5.59	Add	PER15.3x
11/11/21	CIMB	AEM	4.19	5.84	Add	PER14.92x
11/11/21	DBS Vickers	AEM	4.19	4.98	Buy
11/25/21	DBS Vickers	AEM	4.95	6.04	Buy	PER15x FY22
12/02/21	Kim Eng	AEM	5.15	6.23	Buy
01/11/22	CIMB	AEM	4.99	7.9	Add
01/12/22	DBS Vickers	AEM	5.22	6.04	Buy
02/03/22	Kim Eng	AEM	4.51	6.23	Buy
02/25/22	DBS Vickers	AEM	4.03	6.04	Buy
02/28/22	Kim Eng	AEM	4.21	6.34	Buy
03/14/22	DBS Vickers	AEM	4.23	6.04	Buy
03/23/22	CIMB	AEM	4.51	6.85	Add
04/06/22	CIMB	AEM	4.84	6.85	Add
04/19/22	Citi Research	AEM	4.81	6.37	Buy
04/28/22	Kim Eng	AEM	4.77	6.34	Buy
05/04/22	UOB Kay Hian	AEM	4.81	5.6	Buy	PER15.6x FY22
05/06/22	DBS Vickers	AEM	4.84	6.04	Buy
05/06/22	Lim & Tan	AEM	4.84	6.24	Buy
05/09/22	CIMB	AEM	4.84	6.85	Add
05/09/22	Kim Eng	AEM	4.84	6.06	Buy
05/09/22	Citi Research	AEM	4.84	6.48	Buy