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Friday, June 28, 2024

Stock calls for 28 June 2024

Date

Analyst

Company

Last

Target

Call

Valuation

06/28/24

DMG & Partners

HRnetGroup

0.685

0.84

Buy

PER14x FY24/25

06/28/24

Lim & Tan

Mapletree Commercial

1.22

1.55

Accumulate


06/28/24

UOB Kay Hian

Valuetronics

0.635

0.78

Buy


Cryptos such as Bitcoin (BTC) are coming to an end! Why? - Part 4

Many people still don't understand why most governments won't keep cryptos as their reserves.  Let's recap below.

https://sg-stock.blogspot.com/2024/06/cryptos-such-as-bitcoin-btc-are-coming.html

Germany also wants to reduce its dependency on USD (dedollarization) and won't keep cryptos in its reserves.  Furthermore, cryptos can't be used in any worldwide CBDC payment system.  Thus, most governments won't keep something in their reserves that they can't use in cross border transactions.
The recent US and Germany's selloffs showed that our analysis was correct.  Cheers!

US economy is hit with a double whammy (low GDP growth and high inflation)! - Part 3

US Q1 GDP: 1.4%


Let's break down the GDP to see what had happened.

GDP growth = G + I + C + NE (net export)
Q1 GDP (1st estimate) = 0.21 + 0.56 + 1.68 + (-0.86) = 1.59 (1.6)

Q1 GDP (2nd estimate) = 0.23 + 0.57 + 1.34 + (-0.89) = 1.25 (1.3)

Q1 GDP (3rd estimate) = 0.31 + 0.77 + 0.98 + (-0.65) = 1.41 (1.4)

We could see from the GDP sub-components that Consumption and Net Export continued to depress the US economic growth.  The most significant factor is that consumption is affecting the US economy greatly with its continual falls and close to 70% of the US economy is supported by consumption.

Furthermore, the US core inflation (core PCE) is still at an elevated high of over 3% which is a far cry from the US targeted 2%.   If this inflation is sustained for 2024, the US Fed won't reduce its fed rate in 2024 despite having a weak GDP growth.  This phenomenon (weak GDP and high inflation) is known as stagflation and is very difficult to resolve.


Thursday, June 27, 2024

Yangzijiang Financial - Stock calls

Date

Analyst

Company

Last

Target

Call

Valuation

07/21/23

Lim & Tan

Yangzijiang Financial

0.335

0.64

Buy


08/17/23

Lim & Tan

Yangzijiang Financial

0.36

0.64

Buy


08/22/23

CIMB

Yangzijiang Financial

0.355

0.55

Add

Sum of parts

09/18/23

Lim & Tan

Yangzijiang Financial

0.37

0.55

Buy


10/23/23

Lim & Tan

Yangzijiang Financial

0.34

0.55

Buy


11/28/23

CIMB

Yangzijiang Financial

0.32

0.55

Add

Sum of parts

03/01/24

CIMB

Yangzijiang Financial

0.345

0.45

Add

Sum of parts

03/12/24

Lim & Tan

Yangzijiang Financial

0.32

0.45

Buy


06/06/24

Lim & Tan

Yangzijiang Financial

0.325

0.45

Accumulate


Winking - Stock calls

Date

Analyst

Company

Last

Target

Call

Valuation

04/04/24

UOB Kay Hian

Winking

0.265

0.35

Buy

PER17x FY24

04/29/24

Amfrasers

Winking

0.25

0.34

Outperform

DCF

Wing Tai - Stock calls

Date

Analyst

Company

Last

Target

Call

Valuation

08/28/23

Lim & Tan

Wing Tai

1.32

2.05

Accumulate


09/04/23

Lim & Tan

Wing Tai

1.35

1.8

Accumulate

PB0.44x

Stock calls for 27 June 2024

Date

Analyst

Company

Last

Target

Call

Valuation

06/27/24

CIMB

CDL Hospitality

0.955

1.25

Add

DDM

06/27/24

UOB Kay Hian

DBS

35.69

41.4

Buy


06/27/24

DMG & Partners

DBS

35.69

38.9

Buy

GGM, PB1.44x FY25

06/27/24

UOB Kay Hian

Digicore Reit

0.56

0.85

Buy

DDM

06/27/24

Kim Eng

First Reit

0.245

0.28

Buy

DDM

06/27/24

Lim & Tan

Netlink

0.825

0.96

Accumulate


06/27/24

UOB Kay Hian

OCBC

14.4

18.35

Buy


06/27/24

DMG & Partners

OCBC

14.4

14.8

Hold

GGM, PB1.06x FY25

06/27/24

JPM

ST Engineering

4.19

4.6

Buy


06/27/24

DMG & Partners

UOB

31.03

30.1

Neutral

GGM, PB0.99x FY25