upgrade

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 report, which was due mainly to weak performance from its marine segment.  

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 target price of $1.49 compared to $1.47 previously.

'Buy' this tech play for robust growth prospects despite 3Q earnings miss: Phillip Capital

SINGAPORE (May 2): Phillip Capital is upgrading its call on Micro-Mechanics Holdings to “buy” from “accumulate”, albeit with a lower target price of $2.30 compared to $2.50 previously after trimming its earnings forecast by 10% for FY18E.

See: Phillip cuts Micro-Mechanics to 'accumulate' on 2Q results but investment merits still attractive

This consumer stock is set to thrive amid looming market uncertainties: RHB

SINGAPORE (Apr 11): RHB is upgrading its call on Sheng Siong Group to “buy” from “neutral” with a higher target price of $1.11 from 98 cents previously, which results from a 2-3% increase in FY18-20 estimates and target P/E from 19 to 21 times.

In a Wednesday report, analyst Juliana Cai says she thinks the market has underestimated the group’s near-term growth prospects given the recent improvement in consumer confidence and rising domestic consumption.

She also recommends investing in Sheng Siong for its defensive nature.

This trust could be a better proxy to the China retail market than newcomer Sasseur REIT

SINGAPORE (Mar 28): OCBC Investment Research is upgrading its call on CapitaLand Retail China Trust (CRCT) to “buy” from “hold” previously with an unchanged fair value of $1.66, which represents a total expected return of 14% including dividend yield as of the REIT’s Tuesday closing unit price of $1.55.

CNMC Goldmine upgraded to 'accumulate' ahead of potential turnaround this year

SINGAPORE (Feb 28): Phillip Capital is upgrading its call on CNMC Goldmine Holdings to “accumulate” with an unchanged target price of 30 cents ahead of a potential turnaround this year.

“In FY18, the primary catalyst that we look forward to is the significant turnaround of gold output, stemming from the replenishment of high-grade ore and higher gold recovery. Another positive factor is the resumption of the uptrend in gold price,” says analyst Chen Guangzhi in a Tuesday report.

Will stiff taxi competition continue to hinder ComfortDelGro despite Uber alliance?

SINGAPORE (Feb 14): OCBC is upgrading its call on ComfortDelGro (CDG) while increasing its fair value to $2.25 from $2.12 previously after rolling forward its valuations, on the belief that CDG’s alliance with Uber, if approved, will help to stabilise the group’s earnings outlook going forward.

See: ComfortDelGro and Uber finally join forces

Why Hutchison Port Holdings Trust is a better 'buy' than what headlines imply

SINGAPORE (Feb 6): OCBC Investment Research is upgrading its call on Hutchison Port Holdings Trust (HPHT) to “buy” from "hold" with a slightly higher fair value of 43 US cents (57 cents) compared to 42 US cents previously.

This comes after the trust’s manager on Monday declared a distribution per unit (DPU) of 20.60 Hong Kong cents for FY17, in line at 98.1% of OCBC’s full-year forecast.

Brokers upgrade SIA Engineering after 3Q upside surprise

SINGAPORE (Feb 5): OCBC Investment Research and DBS are upgrading their calls on SIA Engineering Company (SIAEC) to “buy” from “hold” previously with a higher fair value and target price of $3.70 and $3.86, respectively.

This comes after the group last week reported 3Q18 earnings of $54.8 million, up 4.2% from $52.6 million on higher share of profits of associated and JV companies – particularly the Singapore Aero Engine Services (SAESL) JV, which deals in Rolls Royce engine & component repair and overhaul.

Does Suntec REIT's rally have legs?

SINGAPORE (Jan 25): DBS Vickers Securities is reiterating its “buy” call on Suntec REIT with an unchanged target price of $2.30 after its manager on Wednesday posted a 4Q distribution per unit (DPU) of 2.604 cents, in line with expectations.

See: Suntec REIT 4Q DPU holds steady at 2.604 cents

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