Jefferies

How positive should investors be on CityDev's big China investment deal?

SINGAPORE (May 17): CGS-CIMB Research and Jefferies are maintaining their “buy” calls on City Developments Limited (CDL) with the respective price targets of $10.66 and $8.68, while RHB Research is keeping its “neutral” rating on the stock with a target price of $9.20.

UOB valuations & yield still deemed attractive after share price run-up

SINGAPORE (May 6): Jefferies, DBS Vickers Securities and RHB Research are maintaining their “buy” calls on United Overseas Bank (UOB) with the respective price targets of $31, $29.20  and $30.80 following last week’s release of the bank’s 1Q19 earnings, which grew 8% on-year on higher interest income.

IREIT stake acquisition provides more than just recurring income growth for CityDev, says Jefferies

SINGAPORE (May 3): Jefferies is maintaining “buy” on City Developments (CDL) with a target price of $12 based on 0.84 times book value. 

This follows news of the developer acquiring a 50% stake in IREIT Global’s manager, along with a 12.4% stake in the REIT from Tikehau Capital and another investor for a total consideration of $77.8 million.

On completion of the acquisition, CDL and Tikehau Capital will own IREIT’s manager equally.

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.

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 billion.

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 cents

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.

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 Early Redevelopment Scheme (VERS) and a second version of the Home Improvement Programme (HIP II).

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.

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 based on India’s benchmark Nifty 50.

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