Broker's Calls

Valuetronics kept at 'buy' by Maybank given PCBA allocation risks are priced in
SINGAPORE (Mar 21): Maybank says Valuetronics’ stock has already priced in the drop in PCBA (PCB assembly) sales if customers decide to switch suppliers due to the China-US trade war. Valuetronics’ PCBA business is the next most vulnerable after smart-lighting as entry barriers are low. Its Dutch MNC customer also has strong means to tweak its supply chain. Its ICE (Industrial and ...
Singtel well positioned to weather competition, looking cheap at current prices: UOB Kay Hian
SINGAPORE (Mar 21): UOB Kay Hian is maintaining its “buy” call on Singtel with a target price of $3.58, while highlighting that the stock, at the price of $3.02, is currently below its mean EV/EBITDA with a 5.8% dividend yield. In a Thursday report, analyst Chong Lee Len says she continues to like Singtel for its customer-centric offerings and diversification across the region, as well as ...
SGX target price cut by Phillip as derivatives revenue growth slows
SINGAPORE (Mar 20): Phillip Securities is cutting the target price of Singapore Exchange on lower FY19 forecast earnings as derivatives growth slows the most in almost two years. For the months of January and February, SGX saw derivatives daily average volume (DDAV) growth contract to 2.4% y-o-y and 1.4% y-o-y respectively compared to a 24.1% y-o-y jump in 2Q19 ended Dec 2018. The ...
Several growth opportunities lined up for Netlink NBN in near-term
SINGAPORE (Mar 20): OCBC Investment Research is maintaining its “buy” call on Netlink NBN Trust (NLT NBN) with an unchanged fair value estimate of 90 cents. In a Wednesday report, analyst Joseph Ng says, “There were a number of topics from the recent Committee of Supply (COS) debate in Parliament that, in our opinion, serve to reiterate the longer term growth opportunities for NLT ...
RHB turns positive on Dairy Farm's valuations after selldown
SINGAPORE (Mar 20): RHB Research is upgrading its call on Dairy Farm from “neutral” to “buy” despite lowering its target price to US$8.25 from US$8.64 previously with the view that long-term investors may look to accumulate the stock at its current low. The research house’s move comes on the belief that Dairy Farm’s share price has hit its trough after plunging 19% in the year to ...
Boeing 737 MAX grounding likely to have minimal impact on SIA – for now: CGS-CIMB
SINGAPORE (Mar 19): SilkAir, the regional wing of Singapore Airlines (SIA), has grounded six of its Boeing 737 MAX 8 jets following the crash of an Ethiopian Airlines flight last week – the second fatal accident involving the best-selling Boeing aircraft in less than five months. But even as the B-737 MAX fleet accounts for some 16% of SilkAir’s total seat capacity, analysts say the net ...
Intensifying competition, economic slowdown may drag on Sheng Siong's growth: Maybank KE
SINGAPORE (Mar 19): Maybank Kim Eng is starting coverage on Sheng Siong Group (SSG) at “sell” with a  target price of 95 cents, which implies 19.5 times FY19F P/E – 1 S.D. below the stocks’ five-year mean. The research house’s estimates for FY19-20E new-store sales and same-store sales (SSS) contributions are currently below that of the street. It is also forecasting for only ...
RHB stays 'neutral' on tech sector as it awaits trade deal conclusion
SINGAPORE (Mar 19): RHB Research is sticking to its bottom-up approach in the tech sector, focusing on key selection of stocks which have sound fundamentals and balance sheet as well as good growth despite the ongoing trade war issues. This means RHB tries to identify the laggards -- those which have not yet been rerated or rerated less than its peers -- with the hope that these stocks might ...
OCBC wary of residential sector's near-term outlook in spite of encouraging data
SINGAPORE (Mar 18): OCBC Investment Research is maintaining “neutral” on Singapore’s residential sector despite the recent recovery in Singapore developers’ stock prices and the announcement of a new Cross Island MRT line, which helped to boost Feb m-o-m private home sales volumes by 4.4%. The research house’s preferred sector picks remain UOL Group and CapitaLand, which are both ...
Acquisitions to strengthen Cromwell European REIT's growth: DBS
SINGAPORE (Mar 18): DBS Group Research is reiterating its “buy” call on Cromwell European REIT (CERT) with a lower target price of 59 Euro cents, from 66 Euro cents previously. In a Friday report, analyst Mervin Song says, “We continue to be bullish on CERT’s prospects, given an attractive 8.5% FY19F forward yield with further upside to our DPU estimates should CERT execute its ...