broker reports

Poor segment performance & competition still a drag on StarHub's earnings, say analysts
SINGAPORE (Feb 18): RHB Research and UOB Kay Hian are maintaining their “neutral” and “sell” calls on StarHub with target prices of $2.02 and $1.45, respectively. Meanwhile, Phillip Capital has downgraded its rating on StarHub to “neutral” from “accumulate” with a lower target price of $1.58 compared to $1.88 previously. This comes after the telco concluded FY18 with 26.2% ...
Market watchers give Mapletree Commercial’s latest acquisition the nod
SINGAPORE (July 7): Mapletree Commercial Trust announced on Tuesday that it would acquire the office and business park space of Mapletree Business City Phase 1 for $1.86 billion, a move that analysts have welcomed. Maybank Kim Eng’s Joshua Tan and Derrick Heng said in a report on Thursday that the acquisition would give the trust a 24% exposure to business parks which, incidentally, is also ...
Telco sector likely to stay 3-player market; M1 to gain most
SINGAPORE (July 7): DBS Vickers Securities is reiterating its “buy” call on M1, switching the local telco’s previous target price of $2.60 to a bull-case estimate of $3.30 with confidence that the probability of a new mobile entrant is declining. Presuming a three-player market to remain, DBS has raised M1’s FY18F and FY19F earnings estimates by 3% and 8% respectively. In a Tuesday ...
FairPrice Shop's threat to Sheng Siong 'little' and 'unclear'
SINGAPORE (July 5): Maybank is keeping its “buy ” call for Sheng Siong Group, with a target price of $1.12 while Daiwa is sticking with its “outperform” rating with a target price of 97 cents. This comes as NTUC FairPrice recently launched its FairPrice Shop, a mini-market style shop mostly filled with low-priced house brand products. Currently, NTUC has two such shops at Eunos and ...
RHB likes Singapore retail and hospitality REITs; neutral on office
SINGAPORE (June 22): RHB is maintaining its “neutral” stance on the office sub-sector of Singapore REITs as it expects spot rents to fall further. According to Knight Frank, premium Grade A+ office rents (Marina Bay/Raffles area) fell 3.6% q-o-q during 2Q16 to $9.88 psf from $10.25 psf in the previous quarter. The latest drop also marks the fifth consecutive q-o-q drop since the recent ...
CDL, UOL and CapitaLand top picks as CIMB keeps ‘overweight’ call on property sector
SINGAPORE (June 16): CIMB is maintaining its “overweight” call on the property sector on the back of an upsurge of sales in May, with "buy" calls and target prices of $10.32 for City Developments (CDL), $8.26 for UOL Group and $4.07 for CapitaLand. A total of 1,388 units were transacted (1,056 excluding Executive Condos) in the month of May. Excluding ECs, this represented a 41% spike in ...
Golden Agri kept on ‘hold’ by OCBC with unchanged 34-cent target
SINGAPORE (May 17): OCBC Investment Research is maintaining its “hold” call on Golden Agri-Resources with an unchanged target price of 34 cents, despite the palm oil plantation company making a “slow start to FY16”. OCBC lead anaylst Carey Wong says in a Monday report that Golden Agri’s 1Q core earnings of US$40 million ($54.7 million) only met 17% of OCBC’s FY16 estimate. ...