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OUE Lippo Healthcare started at 'buy' on improving earnings visibility

SINGAPORE (Mar 11): Soochow CSSSD Capital Markets (SCCM) is starting coverage on OUE Lippo Healthcare (OUE LH) at “buy” with a target price of 8.8 cents, while forecasting a 25.2% earnings per share (EPS) CAGR from FY19-22E as the group enters a “durable earnings expansion phase”, in the research house’s words.  

Based on the research house’s valuations, the stock currently trades at an attractive 1.1 times price-to-book versus the industry average of 3.8 times.

ComfortDelGro started at 'hold' by Maybank with $2.45 target price; says acquisitions are key to re-rating

SINGAPORE (Mar 4): Maybank Kim Eng is starting coverage on ComfortDelGro (CDG) at “hold” with a target price of $2.45.

This comes on expectations the group’s transport focus and global expansion, which will provide a decent shelter amid private taxi-hailing competition, has been priced into valuations of 17 times 2019E-20E P/E.

Bigger is better for this industrial REIT, says OCBC

SINGAPORE (Dec 14): OCBC Investment Research is starting coverage on ESR-REIT at “buy” with a fair value estimate of 59 cents, following the recent completion of the REIT’s merger with Viva Industrial Trust (VIT) on Oct 15.

Including 15 Greenwich Drive, this has increased ESR-REIT’s portfolio size to $3.1 billion of assets from $1.7 billion previously.

This undervalued chemical player is a proxy to global economic growth, says SAC Advisors

SINGAPORE (June 26): SAC Advisors is starting coverage on Megachem at “buy” with a target price of 50 cents, which translates into 14.9 times FY19P/E to imply a 26% discount to the sector average.

In an initiation report on Tuesday, analyst Eing Kar Mei highlights the speciality chemicals provider as a proxy to the stronger global economy with an attractive dividend yield of 4.8-5.7%.

This undervalued real estate play is strongly positioned for growth: OCBC

SINGAPORE (June 6): OCBC Investment Research is initiating coverage on Yandlord Land Group with a “buy” rating, fair value estimate of $2.24, and FY18F dividend yield of 4.4% which translates into potential total returns of about 36%.

In a Wednesday report, analyst Andy Wong highlights the counter as an “attractively undervalued” one with strong brand equity and exposure to key economic regions.

Oxley started at 'buy' on expectations of continued market outperformance

SINGAPORE (June 4): Maybank Kim Eng has initiated coverage on property developer Oxley Holdings at “buy” with a target price of 56 cents, which is based on a 20% discount to its RNAV of 71 cents.

In a report last Friday, analyst Derrick Heng says he expects the group’s sector-leading returns to continue on the back of new local launches and strong overseas presales recognition, which would crystalise about 10 cents per share of development surplus as well as pare down debt to reduce gearing, respectively.

This small-cap O&M play is finally ready to ride an industry upcycle

SINGAPORE (Mar 22): CIMB Research is initiating coverage on Dyna-Mac Holdings (DMHL) at “add” with an 18-cent price target, which is based on 1.8 times CY18 book value, DMHL’s CY12-17 mean.

DMHL, a provider of engineering & construction services to the offshore oil & natural gas sectors, is 24.4% owned by Keppel Corporation.

A 'significantly undervalued' stock to ride on the tech and oil & gas sectors

SINGAPORE (Mar 6): RHB is initiating coverage on GSS Energy at “buy” with a target price of 25 cents, saying the stock is significantly undervalued and an ideal proxy to the tech and oil & gas sectors.

In a Tuesday report, lead analyst Jarick Seet says GSS provides a unique opportunity for investors to ride the manufacturing boom and oil price recovery given how the group recently affirmed its first oil & gas (O&G) discovery in Dec 2017.

Maybank 'negative' on retail REITs with Frasers Centrepoint Trust as top pick

SINGAPORE (Jan 2): Maybank Kim Eng is initiating coverage on Singapore’s retail REIT sector with a “negative” rating on the belief that rising rates, peak new supply in 2018 and fair valuations should restrain near-term price upside.

This comes even as the sector is currently enjoying a cyclical recovery from a rebound in tourism and a more constructive economic landscape.

UOB Kay Hian initiates coverage on NetLink at ‘buy’ with 93 cent price target

SINGAPORE (Aug 31): UOB Kay Hian has initiated coverage on NetLink NBN Trust with a “buy” and target price of 93 cents, which implies an annualised distribution yield of 5.2% and 6% of the research house’s projects for FY18 and FY19, respectively.

In a Tuesday report, analyst Jonathan Koh says he likes the stock for its “resilient, predictable, transparent and regulated” revenue streams, as the group’s business is immune to competition with its extensive nationwide coverage and an established customer base.  

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