Jefferies

Analysts shave UOB forecasts on operating challenges & limited upside, but remain positive at 'buy'
SINGAPORE (Feb 25): Jefferies and OCBC Investment Research are maintaining their “buy” calls on United Overseas Bank (UOB) with a target price and fair value of $30 and $28.30, respectively, even after the bank’s recently reported set of 4Q and FY18 financials came in slightly below both research houses’ expectations. While Jefferies has lowered FY19-20 EPS estimates by 3.6% and 4.5%, ...
DBS undergoes target price cuts after a record FY18, but remains a 'buy'
SINGAPORE (Feb 19): Jefferies Singapore, OCBC Investment Research and RHB Research are maintaining their “buy” calls on DBS Group while lowering their price targets to $28.50, $29.31 and $28.80, respectively. This comes after the release of its 4Q18 results, which saw earnings grow 8% y-o-y to $1.32 billion to bring the bank’s earnings for the full year to a record high of $5.63 ...
Ascendas India Trust kept at 'buy' amid continued DPU growth
SINGAPORE (Jan 25): Jefferies is keeping its “buy” call on Ascendas India Trust (a-iTrust) with a target price of $1.20 amid continued distribution per unit (DPU) growth. This comes after a-iTrust on Thursday declared DPU of 2.05 cents for the 3Q18/19 ended December, 25% higher than a year ago, despite an enlarged equity base. See: Ascendas India Trust posts 25% growth in 3Q DPU to 2.05 ...
Suntec REIT to see brighter days ahead, analysts say
SINGAPORE (Jan 24): Analysts believe Suntec REIT could see better days ahead with retail continuing to improve and office rents expected to be on a multi-year upturn. “Since early 2018, more sell-side analysts have joined us in being bullish on Suntec,” DBS Group Research lead analyst Mervin Song says in a report on Thursday. “As there is mounting evidence of a sustained turnaround at ...
No catalysts in sight for CityDev as new housing initiatives threaten to curb buying sentiment: Jefferies
SINGAPORE (Aug 21): Jefferies is reiterating its “hold” call on City Developments (CDL) with a price target of $11, which is based on a 22% discount to a RNAV of $14, with the view that there are no immediate catalysts for the stock. The research house remains cautious on developers considering the government’s recent announcement of new public housing initiatives, namely the Voluntary ...
Higher stamp duty unlikely to douse positive property sentiment
SINGAPORE (Feb 20): Global investment bank Jefferies says the increase in buyer’s stamp duty for residential properties in Singapore announced at Budget 2018 on Monday could put a slight dent in developer margins, but is unlikely to put the brakes on positive sentiment. “While the budget measures are marginally negative for developers, sentiment may not be adversely impacted. There may be ...
SGX shares opens near 7% lower on Nifty futures exit news
SINGAPORE (Feb 12): Shares in Singapore Exchange (SGX) opened at $7.40 -- nearly 7% lower than its Friday closing price of $7.89 -- following news that the Indian stock exchanges are intending to restrict the usage of Indian indices and market data by foreign exchanges, indices and data providers.    The move will prevent SGX from continuing to offer derivatives ...
Tourist arrivals soar, but are hospitality REITs ready to fly?
SINGAPORE (July 19): Singapore’s hospitality REITs look set to fly on the back of falling room supply and rising tourist arrivals. But Jefferies equity analyst Krishna Guha says meetings with the management of hospitality REITs CDL Hospitality Trusts (CDREIT) and Far East Hospitality Trust (FEHT) suggest a “guarded optimism” as the positives are offset by falling duration of ...