Broker's Calls

Analysts see myriad opportunities in CapitaLand's US portfolio acquisition
SINGAPORE (Sept 19): CGS-CIMB Securities and DBS Vickers Securities are maintaining their “add” and “buy” calls on CapitaLand with the respective target prices of $3.55 and $3.27. This follows news of the group’s foray into the US multifamily property segment with its recent billion-dollar acquisition, which both research houses are positive on. In a Wednesday report, CGS-CIMB ...
Sembcorp Industries kept at 'add' as electricity spot prices power to 3-year high in India
SINGAPORE (Sept 19): CGS-CIMB Research is keeping its “add” call on Sembcorp Industries with an unchanged target price of $3.49 on the back of higher power demand in India. Average electricity spot prices in India have surged to a 3-year high on higher demand as a result of retreating monsoon as well as lower hydro and wind power generation, according to analyst Lim Siew Khee in a Tuesday ...
Rex International targets first oil production in 2H19, may be on cusp of turnaround
SINGAPORE (Sept 19): Rex International Holding is seeking to turn profitable in 2020 when two of its oil wells in Oman and Norway come on stream. On Sept 17, Rex also received a non-binding indication of interest for its concessions in Norway held under its subsidiary, Lime Petroleum. Rex aims to start production for its Block 50 Oman oilfield in 2H19, starting with production at 5,000 bpd. ...
Sasseur REIT started at 'buy' on exposure to China's fast growing outlet mall industry
SINGAPORE (Sept 18): DBS is initiating coverage on Sasseur REIT with a “buy” recommendation and a target price of 91 cents. Sasseur REIT is the first Singapore REIT (S-REIT) with exposure to the fast growing Chinese outlet mall industry, which is expected to grow at a CAGR of 24% between 2016-2021. Initially, the REIT’s portfolio consists of four outlet malls in China, namely in ...
SATS upgraded to 'buy' as long-term global air passenger and cargo growth stays intact
SINGAPORE (Sept 18): Shares of SATS have fallen by about 7% from its recent peak in end Jul compared to the STI’s 6% drop in the same period, OCBC Investment Research, amid concerns about trade tensions between the US and China. This means SATS’s gains of as high as 13% in the earlier part of this year have been erased and the stock is now down about 5% YTD. In a Tuesday note, OCBC lead ...
Cooling measures to continue dampening buying sentiment after a quieter August: CGS-CIMB
SINGAPORE (Sept 18): CGS-CIMB Securities is remaining “neutral” on Singapore’s property sector after Aug 2018 private monthly home sales came in at 639 units, down 60% y-o-y and 64% m-o-m. In a Monday report, analyst Lock Mun Yee says she believes the latest data reflects a “much quieter” residential market and selective buying post cooling measures, which she expects to have an ...
Widening NIM trend intact positive for DBS: RHB
SINGAPORE (Sept 17): Given the growing US economy, the market expects the US federal funds rate (FFR) to be raised by 25bps during the Sept 25-26 Federal Open Market Committee (FOMC) meeting. Correspondingly, the three-month SIBOR -- now at 1.64% -- is expected to rise, given the historical correlation between the FFR and three-month SIBOR. In 2Q18, the three-month SIBOR averaged 1.51%. ...
YHI International builds a global brand name
SINGAPORE (Sept 17): YHI International, the global distributor of automotive and industrial products, listed on the Mainboard of Singapore Exchange (SGX) on July 2003. It is also a trust brand name in alloy wheels manufacturing as an Original Design Manufacturer (ODM). The group’s presence spans 100 countries through 33 subsidiaries and one associated company. Currently, the group serves ...
Synergies ready to be tapped in ESR-REIT and Viva Industrial Trust merger
SINGAPORE (Sept 17): ESR-REIT will emerge as the fourth largest Singapore-listed industrial REIT with $3 billion in assets after consolidation with Viva Industrial Trust (VIT). The implied acquisition yield of 5.8-5.9% for VIT’s portfolio is at the lower end of peers’ range of 5.1-6.8%, reflecting the acquirer’s optimism over longer-term prospects and synergies that the REIT can ...
Supermarket, e-commerce plays draw investor interest: CGS-CIMB
SINGAPORE (Sept 14): CGS-CIMB Research is keeping its “overweight” rating on the consumer sector, amid optimism that a better-than-expected GDP growth rate in 2018 could spur retail consumption. The brokerage hosted a Consumer Day on Sept 11, and says investors were largely positive on domestic supermarket plays and also expressed interest in learning about the key value propositions of ...