upgrade

China Aviation Oil poised to take off this year with compelling valuations, strong passenger traffic recovery: RHB
SINGAPORE (Mar 27): RHB Research is upgrading its call on China Aviation Oil (CAO) to “buy” from “hold”, while raising its target price on the stock by 10 cents to $1.60 to suggest 26% upside plus 3.6% yield. This comes as the research house expects CAO to benefit from signs of a strong recovery in international passenger growth in China, in addition to the anticipated capacity ...
RHB turns positive on Dairy Farm's valuations after selldown
SINGAPORE (Mar 20): RHB Research is upgrading its call on Dairy Farm from “neutral” to “buy” despite lowering its target price to US$8.25 from US$8.64 previously with the view that long-term investors may look to accumulate the stock at its current low. The research house’s move comes on the belief that Dairy Farm’s share price has hit its trough after plunging 19% in the year to ...
Is Ascott Residence Trust's Raffles Place divestment a bane or a boon?
SINGAPORE (Jan 10): OCBC Investment Research is upgrading its call on Ascott Residence Trust (Ascott REIT) to “buy” from “hold” upon raising its fair value estimate for the REIT to $1.18. The move comes after adjusting for its divestment of Ascott Raffles Place Singapore at 2 Finlayson Green for $353.3 million – representing a 64.3% premium to the property’s valuation of $215 ...
Manufacturing presence in Malaysia could benefit Venture amid trade war: CGS-CIMB
SINGAPORE (Nov 7): CGS-CIMB Securities is upgrading its call on Venture Corporation to “add” from “hold” previously as it rolls over to FY20F. At the same time, the research house is lowering its target price from $17.83 to $17.44 after accounting for lower revenue growth expectations, which has led to a cut in FY18-20F core earnings per share (EPS) by 6.6-10.9%. The new target ...
Cache Logistics Trust upgraded in anticipation of industrial sector recovery
SINGAPORE (Aug 1): OCBC Investment Research is upgrading its call on Cache Logistics Trust (CLT) to “buy” from “hold” with a lower fair value of 81 cents compared to 83 cents previously, after adjusting for higher cost of equity to factor in a rising interest rate environment. The research house’s upgrade comes in anticipation of the industrial sector bottoming by end-2018 or early ...
This consumer play is getting sweeter by the day, says RHB
SINGAPORE (June 20): RHB Research is upgrading its call on Delfi to “buy” from “neutral” on attractive valuations as the counter closed Tuesday at $1.32, which is 27 times FY18F earnings. The upgrade comes despite a lower target price of $1.47 from $1.54 as a result of lower gross margin forecasts, with a 4% and 2% reduction to FY19-20F EPS after factoring in RHB’s forecasts for ...
SATS an attractive 'buy' at price levels below $5.15, says OCBC
SINGAPORE (June 14): OCBC Investment Research is upgrading its call on SATS Limited to “buy” from “hold” with an unchanged fair value of $5.50. The upgrade comes on the belief that the counter now looks attractive at its Wednesday closing price of $5.06 – and will continue to remain so as long as it remains below the share price of $5.15, especially given the group’s expanding ...
CSE Global upgraded by CGS CIMB on higher margins
SINGAPORE (May 14): CGS CIMB Securities is upgrading its recommendation on CSE Global to “add” from “hold” previously with an increased target price of 50 cents. This came on the back of the group reporting a 90% jump in its 1Q18 earnings to $5.7 million, compared to $3.0 million in 1Q17. Revenue for the quarter was 23.7% higher y-o-y at $92.2 million, attributed to broad based ...
Sembcorp gets an upgrade despite substantial 1Q earnings miss
SINGAPORE (May 9): Phillip Capital is upgrading its call on Sembcorp Industries to “buy” with a lower target price of $3.83 compared to $3.86 previously due to the higher expected return from the counter’s last closing price of $3.06. The upgrade comes even as Sembcorp’s 1Q18 net profit missed the research house’s expectations substantially, says analyst Chen Guangzhi in a Wednesday ...
Analysts positive on Keppel DC REIT's latest acquisition, but divided over risks
SINGAPORE (May 8): OCBC Investment Research and Phillip Capital are upgrading their calls on Keppel DC REIT (KDC REIT) to “buy” and "accumulate" with a fair value and target price of $1.54 and $1.51, respectively, following news of the REIT’s acquisition of Kingsland Data Centre for $141.2 million. Meanwhile, CGS-CIMB Securities maintains its “add” call on the trust with a higher ...