UOB Kay Hian

ARA US Hospitality Trust started at 'buy' by UOB Kay Hian on Hyatt hotels 'sweet spot'

SINGAPORE (June 18): UOB Kay Hian is initiating coverage on ARA US Hospitality Trust (ARAUS) with a “buy” recommendation and a target price of US$1.15, representing an upside of more than 33% from its current price.

Lead analyst Jonathan Koh sees ARAUS, with a portfolio of 38 hotels under the Hyatt Place and Hyatt House brands, as a pure play on upscale select-service hotels.

Upscale select-service hotels offer only selected facilities and services instead of the full suite of services provided by full-service hotels.

IHH Healthcare to see an exciting 2019 with increasingly palatable valuations: UOB

SINGAPORE (May 31): UOB Kay Hian is maintaining “buy” on IHH Healthcare with a target price of RM6.30 ($2.07), which implies 32.8 times 2020F P/E – well below its historical five-year 12 month forward P/E of 57 times based on the stock’s performance on the KLSE.

Frasers Centrepoint Trust poised to ride on popularity of suburban retail malls, analysts say

SINGAPORE (May 27): Suburban retail malls are quickly gaining favour in Singapore, stealing local visitors away from the famed Orchard Road shopping belt. And Frasers Centrepoint Trust (FCT), which currently owns a portfolio of six suburban malls, looks poised to capitalise on this trend.

Already in FCT’s suburban mall portfolio are Causeway Point, Northpoint City North Wing, Changi City Point, YewTee Point, Anchorpoint, and Bedok Point.

3 key reasons for UOB's confidence in PropNex despite 1Q earnings miss

SINGAPORE (May 22): UOB Kay Hian is maintaining “buy” on PropNex while lowering its target price to 60 cents from 66 cents previously.

The new target price is based on DCF and 2019F P/E of 10 times with reference to its closest listed competitor, APAC Realty, and comes after cutting net profit estimates by 11% to 15% for 2019-21F to reflect a shift in gross profit mix as well as higher staff cost assumptions.

Jumbo enjoys robust outlook with expansion strategy, but China exposure may pose a problem

SINGAPORE (May 22): CGS-CIMB Research and UOB Kay Hian are maintaining their “add” and “hold” calls on Jumbo Group with target prices of 52 cents and 41 cents, respectively, after the group’s 2Q19 results came in line with both research houses’ expectations.

ST Engineering poised to ride on strong orderbook, analysts say

SINGAPORE (May 17): Analysts believe ST Engineering (STE) is poised to power ahead with its growth story this year, on the back of a record high orderbook that is likely to drive valuations.

And the optimism is unanimous: Analysts from all 15 brokerages covering the counter agree that STE is a “buy”.

“With a record $14.1 billion orderbook at the end of 1Q19, STE’s earnings growth potential looks exciting once again after a few tepid years,” says Suvro Sarkar, an analyst at DBS Group Research.

Brokers slash estimates for Bumitama after 1Q disappointment, but say production remains strong

SINGAPORE (May 17): DBS Vickers Securities and UOB Kay Hian are maintaining their “buy” recommendations on Bumitama Agri Limited (BAL) with the respective price targets of 69 cents and 81 cents, even as the palm oil producer missed both research houses’ expectations with its latest set of quarterly results.

RHB Research, on the other hand, remains “neutral” on the stock while lowering its P/E based target price to 62 cents from 67 cents previously to reflect a 9% downside.  

Strong margins & China listing to support Wilmar's share price after a decent 1Q, say analysts

SINGAPORE (May 17): RHB Research and UOB Kay Hian are maintaining their “buy” calls on Wilmar International with target prices of $3.94 and $3.90, respectively, while OCBC Investment Research keeps its “hold” call on the stock with a higher $3.66 fair value estimate.

This comes after the plantation group reported a 26.4% rise in 1Q19 earnings to some $350.5 million, boosted by improved performance in the Tropical Oils and Sugar segments.    

Analysts keeping spirits up on ThaiBev despite 2Q earnings decline

SINGAPORE (May 13): Analysts are keeping largely upbeat on Thai Beverage (ThaiBev), despite a 12.2% drop in 2Q earnings to THB 5.79 billion ($250 million) on the back of lower net profit from its spirits and food businesses.

In addition, net profit from F&N/Frasers Property was down 44% to THB 465 million, from THB 828 million a year ago.

See: ThaiBev 2Q earnings fall 12% to $250 mil due to poorer spirits and food businesses

SingPost's ongoing initiatives will take time to bear fruit, say analysts

SINGAPORE (May 9): UOB Kay Hian and OCBC Investment Research are maintaining their “hold” calls on Singapore Post (SingPost) with a $1.06 price target and $1 fair value estimate, respectively, after the group announced a 4Q19 loss of $75.1 million due to US business-related impairment charges and exceptional items. 

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