CIMB

Innovation is key to staying relevant in brick & mortar, says CGS-CIMB

SINGAPORE (Oct 23): CGS-CIMB Research is maintaining “overweight” on the consumer staples sector after a recent visit to Habitat, honestbee’s tech-enabled grocery and dining destination in Pasir Panjang.

In a Tuesday report, analyst Cezzane See describes the online-to-offline (O2O) retail experience as “akin to shopping at an upmarket grocery store” – and says the move by honestbee proves that physical retail is still relevant despite the onset of the “new retail” phenomenon.

Great expectations for UOL Group with healthy residential take-up & visibility

SINGAPORE (June 13): CGS-CIMB Research is reiterating its “add” call on developer UOL Group with an unchanged target price of $9.65, which is based on a 20% discount to RNAV.

This comes after paying a visit to UOL’s Amber 45 show flat, where CGS-CIMB noted improvement in take-up rates for the project to about 65% presently from 55-60% during the initial May 2018 launch of 139 units.

Overseas investors like Singapore banks and tech firm Venture: CGS-CIMB

SINGAPORE (June 11): CGS-CIMB Securities is reiterating a number of its top stock picks across various sectors following its recent marketing trip to Tokyo and Hong Kong.

There, the research house found that investors in indexed funds were generally “overweight” on Singapore banks and technology, mainly Venture Corp. The tech manufacturer is rated “add” by CGS-CIMB with a target price of $25.64, and valued at 15.4 times the 11-year average P/E.

It's onward and upward for Jubilee Industries from here, says CGS-CIMB

SINGAPORE (June 1): CGS-CIMB Research is maintaining its “add” call on Jubilee Industries Holdings with an unchanged target price of 51 cents, in view of a strong earnings growth outlook post the group’s successful turnaround to net a profit in FY18 amid its recovery in the mechanical business.  

Keppel Corp on track to regain shareholders' trust, says CGS-CIMB

SINGAPORE (May 22): CGS-CIMB Securities is reiterating its “add” call on Keppel Corporation with an unchanged target price of $10 while highlighting the stock as its preferred pick in the capital goods sector as well as a “solid long-term investment candidate” that is on track to regaining its shareholders’ trust, in the research house’s view.   

Far East Hospitality Trust off to a steady start despite soft corporate demand, say analysts

SINGAPORE (Apr 27): OCBC and CIMB are maintaining their “buy” and “add” calls on Far East Hospitality Trust (FEHT) with a fair value and target price of 73.5 cents and 79 cents, respectively, after its manager on Thursday announced a 1Q18 distribution per stapled security (DPSS) of 0.94 cent.

See: Far East H-Trust posts 1Q DPSS of 0.94 cent, up 1.1% y-o-y

Robust FY18 developments keep analysts upbeat on Mapletree Greater China Commercial Trust

SINGAPORE (Apr 27): OCBC and CIMB are reiterating their “buy” and “add” recommendations on Mapletree Greater China Commercial Trust (MGCCT) with a fair value and target price of $1.42 and $1.30, respectively.

This comes after MGCCT’s manager on Wednesday declared an available DPU for FY18 for 7.481 cents, up 1.9% from a year ago after factoring a 4Q18 DPU of 1.904 cents, which is down 2.8% from the previous year due to a reversal in VAT payable.

Can Suntec REIT count on improving retail revenue to drive its earnings up?

SINGAPORE (Apr 26): RHB and Maybank Kim Eng are maintaining their "hold” calls on Suntec REIT with target prices of $1.75 and $1.94 respectively, a day after the release of its latest 1Q18 results.

In contrast, DBS is maintaining its “buy” on the REIT with a target of $2.30 while OCBC is upgrading its call to “hold” from “sell" with a fair value of $1.84 and CIMB is upgrading the REIT to “add” from “hold” with $2.12 target.

Does Frasers Centrepoint Trust still have legs to run?

SINGAPORE (Apr 26): Maybank Kim Eng, CIMB and OCBC are maintaining their “buy” recommendations on Frasers Centrepoint Trust (FCT) with the respective target prices of $2.55, $2.41 and $2.49.

On the other hand, Phillip Capital is reiterating its “neutral” rating on the trust with a $2.14 target price.

This follows the announcement of FCT’s latest 2Q results, which came in line with both research houses’ expectations with a 2% higher DPU of 3.10 cents from 3.04 cent a year ago.

ESR-REIT to undergo a soft 2H18, but valuations remain attractive: CIMB

SINGAPORE (Apr 24): CIMB is reiterating its “add” call on ESR-REIT while lowering its target price on the trust to 60 cents from 64 cents previously after cutting FY18F-20F DPU estimates by 8-9.7%.

This comes after the REIT manager last week declared an EPU of 0.847 cent for 1Q18, 15.6% down from a year ago and below CIMB’s expectations at 20% of the research house’s full-year expectations.

See: ESR-REIT's 1Q EPU falls 15.6% to 0.847 cent on preferential offering

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