OCBC Investment Research

Too early to call the bottom for Roxy-Pacific, says OCBC
SINGAPORE (Apr 18): OCBC Investment Research believes it is still too early to call the bottom for Roxy-Pacific Holdings, even though its share price has fallen 26% over the last 12 months. The brokerage is keeping its “hold” rating on Roxy-Pacific with a fair value estimate of 41 cents. “We believe the market will be focused on its upcoming launches,” says analyst Joseph Ng in a ...
OCBC raises ComfortDelGro's fair value estimate amid expectations of smoother ride ahead
SINGAPORE (Apr 17): OCBC Investment Research is keeping its “hold” call on ComfortDelGro (CDG), but raising its fair value estimate to $2.63 from $2.38 on the back of improved market sentiment for the public transport operator. Analyst Low Pei Han notes that the share price of CDG’s 74.5%-owned subsidiary SBS Transit has climbed around 56% year-to-date. She adds that this has been ...
Analysts remain positive as acquisitions, asset enhancements drive Keppel DC REIT
SINGAPORE (Apr 17): Analysts are keeping their bullish stance on Keppel DC REIT (KDCREIT), after the group on Monday announced 1Q19 results that were in line with expectations. KDCREIT reported distribution per unit (DPU) of 1.92 cents for the 1Q19 ended March, some 6.7% higher than DPU of 1.80 cents a year ago. This formed 24.5% and 24% of full-year forecasts for OCBC Investment Research ...
ART, FEHT downgraded to 'hold' by OCBC; hospitality sector grapples with weak RevPAR
SINGAPORE (Apr 16): OCBC Investment Research has downgraded its recommendations for both Ascott Residence Trust (ART) and Far East Hospitality Trust (FEHT) to “hold” from “buy”, after a strong rally so far this year for the two hospitality REITs. “ART and FEHT have inched up toward our fair value,” says lead analyst Deborah Ong in a Monday report. “As our fair values for each ...
Analysts maintain calls on SPH as 2Q results miss expectations
SINGAPORE (Apr 10): Analysts say Singapore Press Holdings’ (SPH) 2Q19 results came in below expectations amid continued weakness in its media business, coupled with the absence of divestment gains from its treasury and investment portfolio. See: SPH posts 26% fall in 2Q earnings to $29.7 mil on lower revenue, higher costs “[SPH’s] media business [is] still not a pretty sight,” says ...
Analysts mostly bullish on Genting Singapore's $4.5 bil investment for RWS 2.0 as price plunges to 3-month low on fears
SINGAPORE (Apr 4): Analysts are generally positive on Genting Singapore (GENS) following the announcement of plans to invest $4.5 billion to renew and refresh Resorts World Sentosa (RWS). In view of this investment, the government has agreed to extend the exclusivity period for the two casinos at RWS and Marina Bay Sands (MBS) to end-2030. MBS also committed to a $4.5 billion investment to ...
OCBC stays 'neutral' on residential sector as prime district homes lead price dip
SINGAPORE (Apr 2): Prices of non-landed residential property in Singapore’s prime district, or Core Central Region (CCR), fell 2.9% q-o-q in 1Q19 – dragging the private residential property price index (PPI) down for a second consecutive quarter. “This weakness does not come as a surprise to us, given that the CCR was most likely to be adversely impacted by the set of property cooling ...
OCBC still bullish on banking stocks after a lacklustre FY18
SINGAPORE (Mar 26): OCBC Investment Research remains bullish on Singapore’s banking space while keeping its sector “overweight” with “buy” calls on both DBS and UOB, which have been given fair value estimates of $29.31 and $28.30, respectively. Both stocks had dividend yields of 4.8%, with DBS and UOB trading at the respective book values of 1.3 times and 1.1 times, or at an average ...
OCBC wary of residential sector's near-term outlook in spite of encouraging data
SINGAPORE (Mar 18): OCBC Investment Research is maintaining “neutral” on Singapore’s residential sector despite the recent recovery in Singapore developers’ stock prices and the announcement of a new Cross Island MRT line, which helped to boost Feb m-o-m private home sales volumes by 4.4%. The research house’s preferred sector picks remain UOL Group and CapitaLand, which are both ...
Why Singtel, NetLink NBN Trust remain OCBC's top 'buy' picks in a cut-throat telco scene
SINGAPORE (Mar 15): OCBC Investment Research is maintaining “neutral” on Singapore’s telco sector in the wake of the 4QCY18 reporting season, which saw StarHub and M1 results come in within expectations, while that of Singtel’s was slightly under. Nonetheless, the research house continues to favour Singtel and NetLink NBN Trust with a “buy” rating for both and the respective fair ...