Broker's Calls

Speed bumps ahead for Singtel but analysts still recommend a 'buy'
SINGAPORE (May 17): Phillip Capital is maintaining Singtel at “accumulate” with higher $3.31 target as the telco carries out digitalisation of its business to optimise costs further. As part of this strategy, Singtel has invested in self-service channels to help reduce customer acquisition costs. An example is the launch of Gomo, a pure digital product with no physical stores and call ...
ST Engineering poised to ride on strong orderbook, analysts say
SINGAPORE (May 17): Analysts believe ST Engineering (STE) is poised to power ahead with its growth story this year, on the back of a record high orderbook that is likely to drive valuations. And the optimism is unanimous: Analysts from all 15 brokerages covering the counter agree that STE is a “buy”. “With a record $14.1 billion orderbook at the end of 1Q19, STE’s earnings growth ...
Brokers slash estimates for Bumitama after 1Q disappointment, but say production remains strong
SINGAPORE (May 17): DBS Vickers Securities and UOB Kay Hian are maintaining their “buy” recommendations on Bumitama Agri Limited (BAL) with the respective price targets of 69 cents and 81 cents, even as the palm oil producer missed both research houses’ expectations with its latest set of quarterly results. RHB Research, on the other hand, remains “neutral” on the stock while ...
Strong margins & China listing to support Wilmar's share price after a decent 1Q, say analysts
SINGAPORE (May 17): RHB Research and UOB Kay Hian are maintaining their “buy” calls on Wilmar International with target prices of $3.94 and $3.90, respectively, while OCBC Investment Research keeps its “hold” call on the stock with a higher $3.66 fair value estimate. This comes after the plantation group reported a 26.4% rise in 1Q19 earnings to some $350.5 million, boosted by improved ...
How positive should investors be on CityDev's big China investment deal?
SINGAPORE (May 17): CGS-CIMB Research and Jefferies are maintaining their “buy” calls on City Developments Limited (CDL) with the respective price targets of $10.66 and $8.68, while RHB Research is keeping its “neutral” rating on the stock with a target price of $9.20. This comes post the release of CDL’s 1Q19 earnings, which more than doubled to $199.6 million despite lower revenue ...
Brokers shift gear to 'hold' for ComfortDelGro after good run
SINGAPORE (May 16): Analysts are mostly neutral on ComfortDelGro Corporation (CDG) after the group announced at 6.2% y-o-y increase in its 1Q19 earnings to $70.4 million, due to higher revenue, driven by strong contributions from recent acquisitions made in 2017 and 2018. Revenue grew by 7.8% y-o-y to $947.3 million, with the topline growth coming mainly from the Public Transport Services, ...
Brokers unanimously positive on NetLink NBN's outlook after a satisfying FY19
SINGAPORE (May 15): OCBC Investment Research, DBS Vickers Securities and Maybank Kim Eng are maintaining their “buy” calls on NetLink NBN Trust (NLT) with the respective price targets of 95 cents, 90 cents and 83 cents. Likewise, Phillip Capital continues to rate the trust at “accumulate” at a 93-cent price target. This comes post the release of NLT’s latest set of 4Q financials, ...
UOL poised for greater growth with Marina Centre stake, says DBS
SINGAPORE (May 14): DBS Vickers Securities is maintaining its “buy” call on UOL Group with a target price of $8.53, which implies 0.8 times P/NAV and is pegged to a 35% discount to RNAV after taking into account the group’s higher valuation as well as stake in Marina Centre Holdings (MCH).   In a Monday report, analyst Rachel Tan says she believes UOL – which is trading at 0.6 ...
SIA Engineering kept on 'hold' as margins stay under pressure, low visibility on engine shop visits
SINGAPORE (May 14): CGS-CIMB Research is maintaining SIA Engineering at “add” with a $3.11 target price given 4Q19 earnings of $49.2 million was 5% ahead of expectations thanks to stronger airframe revenue. FY19 was 2% above CGS-CIMB’s forecast too. See also: SIA Engineering posts 12.3% drop in 4Q earnings to $49.3 mil; declares 8 cents final dividend CGS-CIMB says SIAEC’s revenue ...
EC World REIT's positive 1Q earnings and accretive acquisition of Fuzhou E-Commerce keep it at 'buy'
SINGAPORE (May 14): EC World REIT (ECW REIT) on May 10 announced a 2.2% increase in its 1Q19 DPU to 1.501 cents, compared to 1.469 cents in 1Q18. Distribution to unitholders was $11.9 million, 3.1% higher compared to the same quarter last year. Gross revenue came in 0.3% lower y-o-y at $23.9 million, bringing net property income (NPI) to $21.2 million, 1.4% lower y-o-y. These were mainly ...