broker's report

Too early to call the bottom for Roxy-Pacific, says OCBC
SINGAPORE (Apr 18): OCBC Investment Research believes it is still too early to call the bottom for Roxy-Pacific Holdings, even though its share price has fallen 26% over the last 12 months. The brokerage is keeping its “hold” rating on Roxy-Pacific with a fair value estimate of 41 cents. “We believe the market will be focused on its upcoming launches,” says analyst Joseph Ng in a ...
Keppel Infrastructure Trust kept at 'buy' by DBS on successful fund raising exercise, Ixom acquisition
SINGAPORE (Apr 17): DBS Group Research is keeping its “buy” call on Keppel Infrastructure Trust (KIT) with a target price of 58 cents, following its results announcement on Monday. KIT declared an unchanged DPU of 0.93 cent for 1Q19 ended March, as well as a loss of $16.2 million compared to earnings of $7.5 million in 1Q18. Revenue saw a 98.7% surge to $318.5 million, from $160.3 ...
OCBC raises ComfortDelGro's fair value estimate amid expectations of smoother ride ahead
SINGAPORE (Apr 17): OCBC Investment Research is keeping its “hold” call on ComfortDelGro (CDG), but raising its fair value estimate to $2.63 from $2.38 on the back of improved market sentiment for the public transport operator. Analyst Low Pei Han notes that the share price of CDG’s 74.5%-owned subsidiary SBS Transit has climbed around 56% year-to-date. She adds that this has been ...
Analysts remain positive as acquisitions, asset enhancements drive Keppel DC REIT
SINGAPORE (Apr 17): Analysts are keeping their bullish stance on Keppel DC REIT (KDCREIT), after the group on Monday announced 1Q19 results that were in line with expectations. KDCREIT reported distribution per unit (DPU) of 1.92 cents for the 1Q19 ended March, some 6.7% higher than DPU of 1.80 cents a year ago. This formed 24.5% and 24% of full-year forecasts for OCBC Investment Research ...
ART, FEHT downgraded to 'hold' by OCBC; hospitality sector grapples with weak RevPAR
SINGAPORE (Apr 16): OCBC Investment Research has downgraded its recommendations for both Ascott Residence Trust (ART) and Far East Hospitality Trust (FEHT) to “hold” from “buy”, after a strong rally so far this year for the two hospitality REITs. “ART and FEHT have inched up toward our fair value,” says lead analyst Deborah Ong in a Monday report. “As our fair values for each ...
UOL upgraded to 'buy' on timely acquisition of Marina Centre
SINGAPORE (Apr 16): DBS Group Research is upgrading UOL Group to “buy” from “hold” and raising its target price by 20% to $8.58, after UOL’s 50%-owned subsidiary United Industrial Corporation (UIC) raised its stake in Marina Centre. UIC on Apr 12 announced it is acquiring the remaining 24.27% stake in Marina Centre Holdings (MCH) and 25% stake in Aquamarina Hotel (AHPL) for a total ...
FEHT downgraded to 'hold' on slowdown in upscale and mid-tier hotel RevPAR
SINGAPORE (Apr 16): “According to channel checks as well as Singapore Tourism Board (STB) data, we are likely looking at a soft 1Q19 for SG hotels,” says OCBC Investment Research analyst Deborah Ong in a Monday report. The STB data reflected poor RevPAR performance from upscale and mid-tier hotels for Jan-Feb 2019. Upscale hotels posted -3.8% and -6.5% y-o-y RevPAR growth for Jan and Feb ...
Shrinking shopping carts keep Sheng Siong at 'sell' for Maybank
SINGAPORE (Apr 16): Maybank Kim Eng continues to rate Sheng Siong “sell” with an unchanged target price of 95 cents. Singapore’s retail sales in Feb saw a 10.0% drop y-o-y, while the supermarket & hypermarket sub-index was dropped 13.3%. After adjusting for Chinese New Year effects, it is the first time the sub-index saw a y-o-y contraction and the second time since 2016 it had ...
RHB stays 'overweight' on Singapore banks as MAS keeps policy unchanged
SINGAPORE (Apr 15): RHB Group Research is maintaining its “overweight” call on Singapore banks, after the Monetary Authority of Singapore (MAS) on Friday kept its monetary policy settings unchanged amid a worsening global growth outlook and low inflation. MAS uses the exchange rate as its main policy tool. After tightening policy twice last year, the central bank last week left the slope ...
Maybank stays positive on aviation services sector's medium term growth
SINAPORE (Apr 15): For the period from January to February, Singapore visitor arrivals grew 2% y-o-y, continuing the growth slowdown trend, as the arrivals increased by 2.4% in 4Q18. China and Asean arrivals were flat for Jan-Feb 2019, with China tourist arrivals seeing an improvement from the 3.7% decline in 4Q18, while Asean bloc was flat y-o-y driven by 2.3%/5.8%/2.1% declines from ...