Broker's Calls

mm2 Asia kept at 'add' by CGS-CIMB on rising demand for Asian content
SINGAPORE (Nov 20): CGS-CIMB Securities is maintaining mm2 Asia at “add” as it is seen as a proxy for higher content consumption in the region. mm2 recently announced its maiden co-production with Netflix with the movie “Triad Princess”. In a recent report, analyst Ngoh Yi Sin says while productions under the B2B model tend to command lower margins vs B2C ones which are meant for ...
CDL Hospitality Trusts kept at 'add' on acquisition of Florence hotel
SINGAPORE (Nov 19): CGS-CIMB Securities is maintaining CDL Hospitality Trusts (CDLHT) at “add” given the acquisition of Hotel Cerretani Florence will be DPU-accretive and provide the REIT exposure to the historic city of Florence, which ranks among Italy’s most visited cities. In a Monday report, analyst Eing Kar Mei says the city also has a vibrant exhibition and fair calendar, which ...
OUE kept at 'buy' amid plans to clean up house
SINGAPORE (Nov 19): Deutsche Bank is keeping its “buy” recommendation on OUE with an unchanged target price of $3.00, amid plans by the real estate group to cash up for the next phase of growth. “OUE stated that it is pursuing a fund management platform listing in the first half of 2019,” says lead analyst Joy Wang in a report on Nov 12. “Based on current EBITDA, management ...
Health Management International's outlook still healthy despite 1Q earnings miss, say analysts
SINGAPORE (Nov 19): Phillip Capital and CGS-CIMB Research are maintaining their “buy” and “add” calls on Healthcare Management International (HMI) with the respective target prices of 77 cents and 73 cents. This comes even as the group’s latest set of 1Q19 earnings fell short of both research houses’ estimates due to financing costs and gestation losses incurred from StarMed, its ...
Wilmar cut to 'hold' by OCBC on softening soybean margins; China IPO in 4Q19 seen
SINGAPORE (Nov 18): OCBC Investment Research is downgrading Wilmar International to “hold” after warning uncertainty over soybean crushing margins may grow as the trade dispute between the US and China becomes more prolonged. “We update our USD/SGD assumptions and also lower our P/E slightly from 13x to 12.5x such that our fair value estimate slips from $3.51 to $3.42. With limited ...
CapitaLand kept at 'buy' on active recycling of geographically diversified portfolio and earnings visibility
SINGAPORE (Nov 16): RHB Research and OCBC Investment Research are maintaining CapitaLand at “buy” after 3Q18 numbers came in line with expectations. CapitaLand’s 3Q18 gross profit jumped 15.3% to $583.7 million but revenue fell largely due to lower contributions from projects in Singapore and China. PATMI and operating PATMI rose 13.6% and 13.3% y-o-y to $362.2 million and $233.7 ...
Time to place bets on Genting Singapore as stock is now looking cheap, says RHB
SINGAPORE (Nov 16): RHB Research is maintaining its “buy” rating on Genting Singapore with a lower target price of $1.23 compared to $1.42 previously after updating DCF assumptions and rolling over the valuation base year to FY19. At the share price of 93 cents, RHB thinks the stock is undervalued as it is trading at a discount to its five-year EV/EBITDA average of 10 times. The revised ...
mm2 Asia still a decent 'buy' even as growth hits a snag, says DBS
SINGAPORE (Nov 16): DBS Vickers Securities is maintaining its “buy” call on mm2 Asia with a lower target price of 50 cents compared to 62 cents previously, after the group’s 1H19 results came in below expectations. To recap, mm2 Asia reported revenue of $113.9 million for 1H19 after 2Q net earnings were hit by higher interest costs, including a one-off charge in relation to its purchase ...
Outlook remains bright for UOL Group on prospects of recurring income growth, say analysts
SINGAPORE (Nov 15): OCBC Investment Research and CGS-CIMB Securities are maintaining their “buy” and “add” calls on UOL Group with a fair value and price target of $8.41 and $8.45, respectively, post the release of the group’s 3Q18 financial results. While UOL Group had reported a significant decline in 3Q earnings in the absence of a one-off gain from the consolidation of United ...
Analysts keep ST Engineering at 'buy' on strong order book; potential earnings upgrade
SINGAPORE (Nov 15): OCBC Investment Research and RHB Research are maintaining ST Engineering at “buy” with target prices of $3.95 and $3.97 respectively. ST Engineering reported a 1% y-o-y rise in revenue to $1.6 billion and a 5.3% increase in net profit to $134.6 million in 3Q18, bringing 9M18 net profit to $369.8 million. Both revenue and net profit for aerospace grew 13% y-o-y to ...