coverage initiation

Why this analyst believes NetLink NBN Trust is better than REITs, business trusts, and telco stocks

SINGAPORE (July 20): Daiwa Capital Markets is initiating coverage on fibre network owner NetLink NBN Trust with a “buy” recommendation and a target price of 97 cents.

On its first day of trading, units of NetLink opened flat on Wednesday at its initial public offering (IPO) price of 81 cents. As at 3.35pm on Thursday, units of Singapore largest listing in six years are still trading flat.

See: NetLink NBN Trust opens flat at IPO price of 81 cents

Religare starts coverage on EC World REIT with ‘buy’ call

SINGAPORE (March 2): Religare Institutional Research has initiated coverage on EC World REIT with a “buy” recommendation and a target price of 92 cents.

“With vast growth opportunities in China’s e-commerce space and strong government and sponsor support, ECW is well positioned for growth,” Religare analyst Pang Ti Wee says in a Thursday report.

Say ‘Annyeong-Haseyo’ to the Hallyu star of stocks

SINGAPORE (Oct 13): RHB is initiating coverage on South Korean move producer Spackman Entertainment Group with a “buy” recommendation and price target of 22 cents, noting the group is “probably in the best health since its IPO” in mid-2014 while presently trading at a significant discount to peers.

In a Thursday report, analyst Jarick Seet says Spackman is “primed for a strong turnaround”, especially given a strong interest of Chinese firms in South Korean content providers in the last five years.

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