DBS Group Research

3 top plantation picks to harvest as palm oil stages rebound: DBS

SINGAPORE (Dec 10): The storm looks to have blown over for palm oil players.

According to DBS Group Research, average crude palm oil (CPO) prices are expected to rebound by 19% to US$596 per MT in 2020.

The recovery will be driven by plateauing global palm oil supply, DBS says, alongside reasonable headroom for soybean price due to positive developments in the US-China trade war and African swine fever (ASF).

In addition, the brokerage also expects demand to remain steady in 2020.

Lendlease Global REIT started at 'buy' by DBS on strong income visibility, acquisition pipeline

Lendlease Global REIT started at ‘buy’ by DBS on income visibility, acquisition pipeline

SINGAPORE (Dec 6): With only two assets under its belt, LendLease Global Commercial REIT (LLGCR) might not appear to be an attractive prospect for investors. But some analysts are keeping a close eye on the recently listed retail REIT.

Describing LLGCR as a “gem in the making”, DBS Group Research is initiating coverage on the REIT with a “buy” recommendation and a target price of $1.05.

No magical Christmas for MNACT as Festival Walk mall stays closed; DBS slashes target price

SINGAPORE (Dec 6): DBS Group Research is cutting its target price for Mapletree North Asia Commercial Trust (MNACT) by 18.8% to $1.30 on the back of lower rental reversion assumptions for key asset Festival Walk.

This comes after the REIT manager on Dec 4 announced that the mall, which accounted for 61.7% of MNACT’s net property income (NPI) in the latest 1HFY2020 ended September, is expected to remain shuttered until 1QCY2020.

5 stocks to look out for as the semiconductor industry stages a comeback: DBS

SINGAPORE (Nov 29): As 5G and new technologies such as artificial intelligence and big data continue to drive the demand for semiconductors, DBS Group Research remains sanguine on the industry that has been plagued by a slump over the past two years.

According to the World Semiconductor Trade Statistics (WSTS), a non-profit organisation that produces monthly industry shipment statistics, the global semiconductor market is expected to return to growth in 2020. 

Come 2020, all regions are forecast to grow with the overall market by some 4.8%

AEM started at 'buy' by DBS as demand for new technology picks up

SINGAPORE (Nov 29): Precision engineering services firm AEM Holdings is flying high. Year-to-date, its share price has more than doubled to close at $1.71 on Nov 28, climbing from 82.5 cents at the start of the year.

Yet, market watchers believe the counter is poised to soar even higher.

DBS Group Research is initiating coverage on AEM with a “buy” recommendation and a target price of $2.38, representing a potential upside of 39%.

AIMS APAC REIT poised to thrive on new lease renewal, sector recovery: DBS

SINGAPORE (Nov 27): DBS Group Research is maintaining its “buy” call on AIMS APAC REIT (AA REIT) with an unchanged target price of $1.50, citing a positive outlook for the REIT on the back of its latest lease renewal. 

In a Wednesday report, DBS analyst Derek Tan highlights that AA REIT had recently inked a renewal agreement with its largest tenant, Optus, for a further 12 years. Optus alone contributes 12.3% of the REIT’s total portfolio gross rental income (GRI). 

EC World REIT started at 'outperform' amid China e-commerce boom: KGI

SINGAPORE (Nov 25): KGI Securities is initiating coverage on EC World REIT (ECW) with an “outperform” recommendation and a target price of 84 cents – representing a total upside of more than 23%, including a divided yield forecast of 9.1% for FY20.

“EC World REIT is the only specialised and e-commerce logistics S-REIT that provides investment access into China’s booming e-commerce industry,” says analyst Amirah Yusoff in an initiation report on Nov 25.

ThaiBev brings some cheer to analysts as full-year results signal recovery

SINGAPORE (Nov 25): A recovery seems to be in full swing for Thai Beverage.

Year-to-date, the mainboard-listed Thailand-based beverage producer has romped to total returns of 50.0%, outperforming the total returns YTD of 28.8% for the FSTE Straits Times Consumer Goods Index.

Yet, there seems to be still more room for its share price to climb. Over the past month, six analysts covering the counter have revised their target prices upwards, while only one has moderated the target price downwards.

DBS upgrades Singtel to 'buy' on proposed tariff hikes in India

SINGAPORE (Nov 22): DBS Group Research is upgrading Singapore Telecommunications (Singtel) to “buy” and raising its target price by 15.4% to $3.60, on the back of earlier-than-expected tariff hikes in India.

In a report on Nov 22, DBS analyst Sachin Mittal notes that the group’s India associate, Bharti Airtel, which dragged Singtel to its first-ever quarterly earnings loss in 2QFY2020 ended September, has announced plans to raise tariffs from December 2019 onwards.

Sasseur REIT gets 'buy' calls all around as China retail outlet malls sizzle

SINGAPORE (Nov 20): Analysts are unanimously bullish on Sasseur Real Estate Investment Trust (Sasseur REIT), as the China-focused retail outlet mall manager continues to shine.

Of the four brokerages covering Sasseur REIT, Maybank Kim Eng Research, UOB Kay Hian Research and DBS Group Research have “buy” recommendations on the counter, while CGS-CIMB Research has an “add” call.

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