Singapore Stock Exchange - Equity Investments

Thursday, July 28, 2022

Prime US Reit - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
06/16/21	DBS Vickers	Prime US Reit	0.86	1	Buy	DDM
06/18/21	Lim & Tan	Prime US Reit	0.865	0	Accumulate
06/25/21	DMG & Partners	Prime US Reit	0.88	1.03	Buy
06/25/21	Kim Eng	Prime US Reit	0.88	1.1	Buy	DDM
08/04/21	DBS Vickers	Prime US Reit	0.84	1	Buy	DCF
08/05/21	phillip	Prime US Reit	0.825	0.94	Accumulate	DDM
08/11/21	DMG & Partners	Prime US Reit	0.84	1.03	Buy
08/11/21	Kim Eng	Prime US Reit	0.84	1.1	Buy
09/14/21	DBS Vickers	Prime US Reit	0.86	1	Buy
09/30/21	phillip	Prime US Reit	0.86	0.94	Accumulate
10/19/21	phillip	Prime US Reit	0.86	0.94	Accumulate
11/05/21	DBS Vickers	Prime US Reit	0.865	1	Buy
11/08/21	Kim Eng	Prime US Reit	0.875	1.1	Buy	DDM
11/08/21	phillip	Prime US Reit	0.875	0.94	Accumulate	DDM
11/09/21	DMG & Partners	Prime US Reit	0.88	1.04	Buy
01/21/22	DMG & Partners	Prime US Reit	0.83	1.04	Buy
02/17/22	DBS Vickers	Prime US Reit	0.83	1	Buy
02/18/22	Kim Eng	Prime US Reit	0.82	1.1	Buy	DDM
02/18/22	Lim & Tan	Prime US Reit	0.82	0	Hold
03/30/22	DMG & Partners	Prime US Reit	0.76	1.02	Buy	DDM
05/12/22	DBS Vickers	Prime US Reit	0.725	1	Buy
05/13/22	DMG & Partners	Prime US Reit	0.695	1.02	Buy	DDM
05/23/22	phillip	Prime US Reit	0.72	1	Buy	DDM
05/26/22	DBS Vickers	Prime US Reit	0.715	0.88	Buy	DCF

Stock calls for 28 July 2022

Date	Analyst	Company	Last	Target	Call	Valuation
07/28/22	DBS Vickers	Capitaland Integrated Commercial Trust	2.14	2.7	Buy
07/28/22	Lim & Tan	Capitaland Integrated Commercial Trust	2.14	2.45	Hold
07/28/22	DBS Vickers	Frasers Centrepoint Trust	2.32	2.8	Buy
07/28/22	CIMB	Frasers Centrepoint Trust	2.32	2.75	Add	DDM
07/28/22	DBS Vickers	Keppel Infrastructure	0.58	0.6	Buy
07/28/22	DBS Vickers	Keppel Pacific	0.69	0.78	Buy
07/28/22	DMG & Partners	Keppel Pacific	0.69	0.87	Buy	DDM
07/28/22	Lim & Tan	KSH	0.35	0.46	Buy	Sum of parts
07/28/22	UOB Kay Hian	Suntec Reit	1.59	1.72	Hold	DDM
07/28/22	CIMB	Suntec Reit	1.59	1.79	Add	DDM
07/28/22	Kim Eng	Suntec Reit	1.59	1.85	Buy
07/28/22	Citi Research	Suntec Reit	1.59	1.85	Neutral
07/28/22	OCBC	Thai Beverage	1.59	1.5	Hold

The US is in a recession now!

https://finance.yahoo.com/news/q-2-us-gdp-gross-domestic-product-economic-activity-123214911.html
The US is in a recession now as defined by the conventional definition of 2 quarters of negative growth (Q1:-1.6% & Q2:-0.9%).

We had stated previously that the US would encounter a hard landing.

http://sg-stock.blogspot.com/2022/05/will-us-be-heading-for-soft-or-hard.html

The US Fed raised its rate by 75bp in July 2022

Just as we've projected, the US Fed raised its rate by 0.75% in its July meeting.

http://sg-stock.blogspot.com/2022/07/is-us-fed-going-to-hike-by-75bp-in-july.html

The IMF had just downgraded the world GDP and economic outlook.

The IMF had issued a stagflation warning in its latest economic assessment.

Coincidentally, Dr. Doom (Roubini) had also warned about severe recession and financial crisis.

Perfect recipe for a global recession? - Part 2

After the EU announced that its PMI had dropped below 50 which was in a contractionary phase, Goldman Sachs predicted that the EU would be in a recession in the 2nd half of 2022.