Thursday, October 23, 2014

Keppel Corp target cut to $11.30 by CIMB

Stock Name: Keppel Corp
Research House: CIMBPrice Call: BUYTarget Price: 11.30

SINGAPORE (Oct 23): CIMB has cut its price target for Keppel Corp to $11.30 from $13.20, valuing the conglomerate's offshore & marine business at 11 times projected earnings instead of 13.5 times previously to reflect fewer orders.

While maintaining her forecast of $6 billion worth of new orders for 2014, CIMB analyst Lim Siew Khee has reduced her expectations for 2015 and 2016 to $5 billion annually from $6 billion previously.

SGX maintained at 'hold' by OCBC with same target price of $7.26

Stock Name: OCBC Bank
Research House: OCBCPrice Call: HOLDTarget Price: 7.26

SINGAPORE (Oct 23): OCBC has kept its "hold" call on Singapore Exchange and maintained its target price of $7.26 as outlook for the securities market continue to look challenging.

In an Oct 23 report, OCBC Investment Research says SGX's 1QFY15 came in within its expectations.

Singapore's bourse operator posted 1QFY15 net earnings of $77.6 million, in line with consensus estimate of $78.6 million.

This is down 16% from a year ago.

Revenue fell 8% to $168.9 million.

Management has declared an unchanged dividend of 4 cents payable on 6 Nov 2014.

Frasers Commercial Trust held at 'buy' by OCBC with higher target price of $1.50

Stock Name: Frasers Com Tr
Research House: OCBCPrice Call: BUYTarget Price: 1.50

SINGAPORE (Oct 123): OCBC Investment Research has maintained its "buy" call on Frasers Commercial Trust (FCOT) and upgraded its fair value of the stock from $1.48 to $1.50.

In an Oct 23 report, OCBC says FCOT's 4QFY14 results came in within its expectations.

Gross revenue grew 10.5% to $31.8 million from a year ago, while DPU of 2.21 cents represented an increase of 6.2%.

SingTel upgraded to 'buy' with $4.08 target price by OCBC

Stock Name: SingTel
Company Name: SINGTEL
Research House: OCBCPrice Call: BUYTarget Price: 4.08

SINGAPORE (Oct 23): OCBC Investment Research has upgraded SingTel to "buy" with a target price of $4.08 on valuations ground and continued progress with its Digital Life strategy.

OCBC says SingTel's share price has fallen some 7% to hit a recent $3.64 low since it downgraded its call to "hold" on 14 Aug.

The fall was mainly due to the overall weaker market, with SingTel being the largest market cap stock listed here, OCBC says in a report on Oct 23.

Tuesday, October 21, 2014

Boustead Singapore lifted to 'buy' by UOB-Kay Hian with target price of $2.06

Stock Name: Boustead
Research House: UOB KayHianPrice Call: BUYTarget Price: 2.06

SINGAPORE (Oct 21): UOB-Kay Hian has upgraded Boustead Singapore to a "buy" with a higher target price of $2.06.

This is because the company's fundamentals remain intact despite its share price decline, says UOB-Kay Hian.

Boustead has won four additional contracts worth $157 million in the design-and-build segment that boosted its orderbook backlog to over $452 million.

The first contract is for an Airbus Asia Training Centre to be located at the Seletar Aerospace Pack while the three others are building contracts.

'Gassier' KrisEnergy held at 'outperform' by Credit Suisse with target price of 93 cents

Stock Name: KrisEnergy
Research House: Credit SuissePrice Call: BUYTarget Price: 0.93

SINGAPORE (Oct 21): Credit Suisse has maintained KrisEnergy at "outperform" with the same target price of 93 cents.

That's because KrisEnergy has a higher gas mix in its reserves or is more "gassy", according to Credit Suisse in an Oct 20 report.

This makes the stock more resilient to a drop in oil prices.

In the present falling oil price environment, Kris' one-month price performance remained unchanged compared to more "oily" peers which have fallen about 30%, says the research house.

Credit Suisse has already revised crude price forecast.

Mapletree Logistics Trust held at 'outperform' by Credit Suisse with higher target price of 93 cents

Stock Name: Mapletree Log Tr
Research House: Credit SuissePrice Call: BUYTarget Price: 1.46

SINGAPORE (Oct 21): Credit Suisse has maintained Mapletree Logistics Trust (MLT) at "outperform" and raised its target price to $1.46 from $1.45.

In an Oct 20 report, Credit Suisse says MLT remains one of its top picks for S-REITs due to its favourable sector fundamentals and the defensiveness of the logistics sector with a long WALE of 4.6 years.

MLT also has the added advantage of possible future acquisitions as its sponsor has 2.08 million sqm of GFA development which may form the latter's future pipeline.