Phillip Securities Research

SembMarine kept at 'hold' on expectations of slow recovery
SINGAPORE (Oct 30): Analysts are keeping their “hold” recommendations on Sembcorp Marine amid an expected slow recovery. “Overall, despite the improved industry outlook, management mentioned ‘it will take some time’ before there is a sustained recovery in new orders, while competition remains intense and margins are compressed,” says OCBC Investment Research analyst Low Pei Han in ...
Analysts stay positive on SATS despite termination of Turkish Airlines in-flight kitchen
SINGAPORE (July 20): Analysts say an improved outlook for SATS on various levels outweigh any potential impact from the termination of its agreement with Turkish Airlines for the provision of in-flight catering services to airlines at the Istanbul New Airport. “Following cessation of discussions with Turkish Airlines over the development of a flight kitchen in Turkey, we now raise our DPS ...
ComfortDelGro kept at 'accumulate' as ride-hailing congestion clears
SINGAPORE (July 10): Phillip Securities Research is keeping its positive outlook on the land transport sector as the storm appears to have blown over for the taxi industry. “We believe the worst is over for the taxi industry, in view of the positive impact following the exit of Uber and resultant restructuring of the ride-hailing industry,” says analyst Richard Leow in a report on ...
Oil prices expected to face volatility in near term
SINGAPORE (July 10): Phillip Securities Research says oil prices are expected to fluctuate widely in the near term as the oil market embraces higher volatility. “On the one hand, the market will continue to price in geopolitical risks such as trade war tensions and output disputes. On the other hand, the proceeding of the Fed rate hike cycle and shrinkage of balance sheets in major central ...
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 ...
ComfortDelGro back in the driver's seat with more level playing field ahead
SINGAPORE (June 8): Analysts say the restructuring of the ride-hailing industry after Uber’s exit from Singapore, as well as regulatory action coming into effect, will significantly level the playing field and have a positive impact on the taxi industry. “User discounts and driver incentives for ride-hailing apps have been reduced since Uber exited the market,” says Phillip Securities ...
Analysts see longer-term growth for SIA Engineering amid near-term challenges
SINGAPORE (May 17): Analysts believe SIA Engineering Company (SIAEC) could overcome near-term challenges and has positioned itself for longer-term growth. “Over the near-term, we expect the core business to stay muted as the industry shifts towards an increase in demand for lower margin Line Maintenance on the new aircraft/engine models,” says OCBC Investment Research’s lead analyst ...
Y Ventures started at 'buy' on strength of e-commerce growth
SINGAPORE (Jan 29): Phillip Capital is initiating coverage on data analytics-driven e-commerce firm Y Ventures Group with a “buy” recommendation and a target price of 70 cents. The target price is based on an estimated price-to-earnings multiple of 30 times for FY18. “It is particularly challenging to find the right valuation model for Y Ventures due to its unique business model ...
Can ComfortDelGro's Uber deal save its taxi business?
SINGAPORE (Dec 11): Analysts are largely positive on the proposed tie-up between ComfortDelGro Corporation and Uber Technologies, even as they await more financial details to emerge pending the completion of the deal. ComfortDelGro, Singapore’s largest taxi operator, on Friday announced a proposed joint venture with private hire car service start-up Uber. The agreement will see CDG ...
Geo Energy kept at 'buy' on expanding war chest
SINGAPORE (Nov 28): Phillip Securities Research is keeping its positive stance on coal producer Geo Energy Resources on the back of an improving war chest amid robust production. The brokerage is keeping its “buy” call on Geo Energy with an unchanged target price of 44 cents. The group in early October issued a new senior note with aggregate principal amount of US$300 million ($404 ...