Wednesday, March 4, 2015

Sheng Siong started at "buy", 88-cent target by Phillip Capital

Stock Name: Sheng Siong
Company Name: SHENG SIONG GROUP LTD
Research House: Phillip SecuritiesPrice Call: BUYTarget Price: 0.88



SINGAPORE (March 4): Phillip Capital has started coverage on Sheng Siong Group with a "buy" call and an 88-cent price target, which is based on 23.9 times earnings.

Since its 2011 listing, Sheng Siong is estimated to have gained an additional 3% share in Singapore's mass-market grocery sector, and its Ebit (earnings before interest and tax) margins are now higher than those of NTUC Fairprice and Dairy Farm International, the broking house said.

Tuesday, March 3, 2015

Kim Heng Offshore & Marine downgraded to 'accumulate' by Phillip Capital with 14 cents target price

Stock Name: KimHeng Offshore
Company Name: KIMHENG OFFSHORE&MARINE HLDLTD
Research House: Phillip SecuritiesPrice Call: TRADING BUYTarget Price: 0.14



SINGAPORE (Mar 3): Kim Heng Offshore & Marine reported a 49% increase in revenue quarter-on-quarter to $20.5 million for 4Q2014, but a net loss of $1 million due to a one-off provision of $3.3 million for doubtful debt.

Excluding the provision, net income would have been $2.3 million, almost double q-o-q.

FY2014 revenue and net income missed expectations by 3% and 112% respectively.

In a Mar 3 report, analyst Benjamin Ong downgrades Kim Heng to "accumulate" with a revised target price of 14 cents.

Golden Agri-Resources raised to "buy", target lifted to 53 cents by OSK DMG

Stock Name: Golden Agri-Res
Company Name: GOLDEN AGRI-RESOURCES LTD
Research House: OSK-DMGPrice Call: BUYTarget Price: 0.53



SINGAPORE (March 3): OSK DMG has upgraded Golden Agri-Resources to "buy" from "neutral", saying the palm oil producer is expected to turn in stronger earnings in the quarters ahead.

Its oilseeds business turned profitable in 4Q2014, marking the second straight quarter of improvement, while its biodiesel business could get a boost from Indonesia's plans to shore up the biodiesel sector, OSK DMG said.

"Golden Agri's earnings appear to have turned the corner, with its oilseed segment booking two straight quarters of improvement.

Monday, March 2, 2015

Mermaid Maritime cut to "hold", target cut to 24 cents by Maybank Kim Eng

Stock Name: Mermaid Maritime
Company Name: MERMAID MARITIME PUBLIC CO LTD
Research House: Maybank Kim EngPrice Call: HOLDTarget Price: 0.24



SINGAPORE (March 2): Maybank Kim Eng has downgraded Mermaid Maritime to "hold" from "buy" and cut its price target from 38 cents to 24 cents, based on 0.5 times 2015 book value instead of nine times projected earnings for this year.

The changes came after the company, which provides subsea and drilling services, said earnings for the December quarter dived 67% y-o-y to US$4.3 million ($5.8 million) from US$13.2 million a year earlier.

One of its rigs was not utilised during the quarter while another was on standby in December after having completed a project.

Golden Agri-Resources upgraded to "buy" by UOB Kay Hian

Stock Name: Golden Agri-Res
Company Name: GOLDEN AGRI-RESOURCES LTD
Research House: UOB KayHianPrice Call: BUYTarget Price: 0.48



SINGAPORE (March 2): UOB Kay Hian has upgraded Golden Agri-Resources to "buy" from "hold", citing increased potential upside to its unchanged price target of 48 cents following the stock's recent pullback.

While the palm oil producer's downstream business remains challenging, its upstream business should drive earnings this year, with fresh fruit bunch production forecast to rise 4% to 6%, according to UOB Kay Hian analyst Chan Yuan She.

Q&M Dental target raised 42% to 71 cents by Maybank Kim Eng

Stock Name: Q&MDental
Company Name: Q & M DENTAL GROUP (S) LIMITED
Research House: Maybank Kim EngPrice Call: BUYTarget Price: 0.71



SINGAPORE (March 2): Maybank Kim Eng has raised its price target price for Q&M Dental Group from 50 cents to 71 cents, based on 45 times projected 2015 earnings, after increasing its earnings per share estimates by 12% for this year and 19% for 2016.

It kept its "buy" call, saying it expects strong full-year contributions from China-based Aoxin Stomatology Group and dental supplies company Aidite High Technical Ceramic, which Q&M Dental acquired last year.

Venture Corp price target raised to $9.11 from $8.88 by Maybank Kim Eng

Stock Name: Venture
Company Name: VENTURE CORPORATION LIMITED
Research House: Maybank Kim EngPrice Call: BUYTarget Price: 9.11



SINGAPORE (March 2): Maybank Kim Eng Research has raised its price target for Venture Corp to $9.11 from $8.88 and kept its "buy" call.

The revised price is based on 16 times projected 2015 earnings, up from 15 times previously.

The contract electronics manufacturer's life sciences and networking and communications segments are expected to drive earnings this year, with their contributions forecast to rise to 51% from 49% last year and 44% in 2013, according to Maybank Kim Eng analyst Gregory Yap.