Thursday, April 16, 2015

Neptune Orient Lines raised to "outperform", target lifted to $1.20 by Credit Suisse

Stock Name: NOL
Research House: Credit SuissePrice Call: BUYTarget Price: 1.20

SINGAPORE (April 16): Credit Suisse has upgraded Neptune Orient Lines to "outperform" from "neutral" and lifted its price target from $1.10 to $1.20, now based on 0.8 times book value.

With 42% of its capacity deployed on the Transpacific route, NOL has the container shipping sector's second-greatest exposure to the lane "where we see rates rising for the first time since 2010", Credit Suisse analysts Timothy Ross and Christopher Siow wrote in a note today.

Tuesday, April 14, 2015

Memtech started at "buy", 17-cent target by KGI Fraser

Stock Name: Memtech Intl
Research House: KGI FraserPrice Call: BUYTarget Price: 0.17

SINGAPORE (April 14): KGI Fraser Securities has started coverage on Memtech International with a "buy" rating and 17-cent price target, pegged at 11 times projected 2015 earnings.

The Singapore-based maker of components and parts for the automotive and electronics industries is seeing a resurgence in business following years of struggle, according to KGI analyst Renfred Tay.

Keppel REIT upgraded to "buy", target raised to $1.32 by DBS Vickers

Stock Name: Keppel Reit
Company Name: KEPPEL REIT
Research House: DBS VickersPrice Call: BUYTarget Price: 1.32

SINGAPORE (April 14): DBS Vickers has upgraded Keppel REIT to "buy" from "hold" and raised its price target to $1.32 from $1.29.

"K-REIT's share price performance has lagged other large cap S-REIT peers in recent months, and we believe it is time to play catch-up as fears of a fallout in distribution per unit are behind us and have been priced in," DBS Vickers analysts Derek Tan and Rachael Tan wrote in a note today.

M1 downgraded to "hold" by DBS Vickers; $4.05 target intact

Stock Name: M1
Company Name: M1 LIMITED
Research House: DBS VickersPrice Call: HOLDTarget Price: 4.05

SINGAPORE (April 14): DBS Vickers has downgraded M1 to "hold" from "buy", citing limited upside to its $4.05 price target.

The company's 1Q2015 earnings of $45.7 million (up 6.8% y-o-y) were in line with expectations, but its share price is likely to trade in a tight band until there is clarity on whether Singapore will have a fourth mobile operator, according to DBS Vickers analyst Sachin Mittal.

M1 downgraded to "neutral" by CIMB; $3.80 target intact

Stock Name: M1
Company Name: M1 LIMITED
Research House: CIMBPrice Call: HOLDTarget Price: 3.80

SINGAPORE (April 14): CIMB has downgraded M1 to "hold" from "add", saying the stock's current valuations are fair with the company's enterprise value at 16.2 times its operating free cash flows.

CIMB's price target of $3.80 is intact.

Following a q-o-q decline in its 1Q2015 revenue, M1 should benefit from an average price hike of $2 to $3 for its monthly post-paid plans, as well as from additional data usage revenue as subscribers move to tiered pricing plans, CIMB analyst Foong Choong Chen wrote in a note.

DBS downgraded to "neutral", target cut to $20.50 by JPMorgan

Stock Name: DBS
Research House: JP Morgan ChasePrice Call: HOLDTarget Price: 20.50

SINGAPORE (April 14): JPMorgan has downgraded DBS Group Holdings to "neutral" from "overweight" and reduced its price target to $20.50 from $21.50.

JPMorgan analysts Harsh Modi and Josh Klaczek lowered their earnings estimates for the bank by 13% for 2016 and 15% for 2016 to reflect an expected drop in net interest income.

"The key driver for the stock's 28% rally in the last 12 months (versus the Straits Times Index's 9% gain) was expectations of rising rates, which are now getting challenged," they wrote in a note.

Friday, April 10, 2015

Ezion price target reduced by 16.6% to $1.51 by CIMB

Stock Name: Ezion
Research House: CIMBPrice Call: BUYTarget Price: 1.51

SINGAPORE (April 10): CIMB has cut its price target for Ezion Holdings to $1.51 from $1.81 after lowering its FY2015 to FY2017 earnings per share estimates by 22% to 36% to factor in a projected 20% decline in charter rates for the company's liftboats and service rigs.

Ezion, which has 37 liftboats and services rigs, may even end up with one or two contract cancellations, according to CIMB analyst Yeo Zhi Bin.