initiate coverage

'Major bargain' Oxley started at 'buy' as RHB brushes aside concerns over high gearing

SINGAPORE (June 13): RHB Research is initiating coverage on property developer Oxley Holdings with a “buy” recommendation and a target price of 41 cents.

The target price is pegged to a 45% discount to its revalued net asset value (RNAV) of 74 cents, and represents an upside of 32% from its current trading price.

“Concerns over its gearing level are overdone, as it should be lowered by key asset sales – especially from Chevron House and its hotels along Stevens Road,” says lead analyst Jarick Seet in a report on Thursday.

Sasseur REIT started at 'add' by CGS-CIMB on exposure to China's fast-growing retail outlet segment

SINGAPORE (Apr 3): CGS-CIMB Research is initiating coverage on Sasseur REIT (SASSR) with an “add” recommendation and a target price of 92 cents, representing a potential upside of 15%.

This values SASSR at 7.3% FY19F DPU yield, which the brokerage says is still above the average of its comparable peers in Singapore.

Wilmar in cashflow stress test 'danger zone', says Exotix's Tiruchelvam

SINGAPORE (Nov 28): Wilmar, the largest palm oil processor in the world, has appeared in the “danger zone” of Exotix Capital’s cashflow stress test.

This comes agter the research house stress tested the cashflows of 42 consumer companies on their vulnerability to an interest rate hike and depreciation.

Currently, palm oil and soybean are facing excess supply. This follows the imposition of tariffs on US soybean imports by China as part of the trade war while palm oil is facing a glut.

First Sponsor started at 'buy' on potential post-Brexit relocation

SINGAPORE (July 24): DBS Group Research is initiating coverage on First Sponsor Group with “buy” call and a target price of $1.62 on the back of potential post-Brexit relocation to the Netherlands.

Based on a fully diluted revalued net asset value (RNAV), the target price offers potential upside of 31% from First Sponsor’s last traded price of $1.25 as at July 20.

“If its undiluted RNAV is used, First Sponsor’s fair value would be S$1.99, thus giving potential upside of 60%. BUY!” says lead analyst Rachel Tan in a Monday report.

CNMC Goldmine restarted at 'buy' as worst is over

SINGAPORE (July 3): KGI Securities Research is re-initiating coverage on CNMC Goldmine Holdings with a “buy” call and a target price of 38 cents, representing an upside of close to 40% from its last traded price.

The target price is based on 10 times of its earnings per share (EPS) forecast for 2018, which is a 30% discount to global gold miners.

shopper360 started at 'trading buy' despite CEO's resignation amid allegations of misconduct

SINGAPORE (June 13): Phillip Securities Research is initiating coverage on Malaysia-based marketing services provider shopper360 with a “trading buy” recommendation and a target price of 33 cents.

The target price is more than 83% higher than shopper360’s last traded price of 18 cents on May 8.

The brokerage’s coverage initiation comes despite shopper360 losing its CEO just two months ago.

Sasseur REIT's outlet malls are a win-win for everyone

SINGAPORE (June 7): Maybank Kim Eng is initiating a “buy” recommendation on Sasseur REIT with a target price of 90 cents.

The operator of outlet malls in China recently listed on the Singapore Exchange (SGX) and currently has four outlet malls in fast-growing Tier-2 cities in China – Chongqing, Bishan, Hefei and Kunming.

In a Thursday report, analyst Chua Su Tye says, “Outlet malls are capturing a larger wallet share of China’s brand-conscious, yet price-sensitive ‘aspirational consumers’.”

SLB started at 'buy' as residential property market bottoms

SINGAPORE (June 1): SAC Advisors has initiated coverage on SLB Development, the property developer which was spun off from construction company Lian Beng Group, with a “buy” call and a target price of 28 cents.

The target price represents an upside of more than 33% from SLB’s current trading price of 21 cents as at 10.54am.

“We think that SLB deserves a premium to the sector average valuation given its large landbank, first mover advantage from acquiring assets early as well as its exposure to China,” says analyst Eing Kar Mei in a report on Friday.

Y Ventures started at 'add' as proxy to Big Data, e-commerce

SINGAPORE (May 28): CGS-CIMB Securities is initiating coverage on Y Ventures Group (YVEN) with an “add” recommendation and a target price of 62 cents, representing an upside of close to 25% from its current trading price.

“YVEN is a proxy to rising e-commerce and big data trend with a turnaround story,” says analyst Colin Tan in a report on Friday.

The Singapore-based data analytics-driven e-commerce retailer and distributor currently has a presence in more than 20 online marketplaces globally, including Amazon, eBay, Qoo10, and Lazada.

RHB starts UG Healthcare at 'buy' on rising global demand for gloves

SINGAPORE (Apr 24): RHB is initiating coverage on UG Healthcare with a “buy” recommendation and a target price of 32 cents, as the research house is positive on the long term global demand growth for gloves, with demand rising at a 5.7% CAGR over the past 12 years.

In a Monday report, analyst Leng Seng Choon says, “Our expectations of an appreciating USD vs MYR would also indicate an improved earnings outlook for glove manufacturers.”

Be informed of the stories that matter


Be informed of the stories that matter