Friday, March 27, 2015

Swiber price target cut 32% to 17 cents by Maybank Kim Eng

Stock Name: Swiber
Company Name: SWIBER HOLDINGS LIMITED
Research House: Maybank Kim EngPrice Call: HOLDTarget Price: 0.25



SINGAPORE (March 25): Maybank Kim Eng has cut its price target for Swiber Holdings from 25 cents to 17 cents, based on 0.2 times book value versus 0.3 times previously, and kept its "hold" rating.

The stock trades at only 0.2 times book value, but the company's balance sheet is cause for concern given its gearing of 1.5 times and negative free cash flows, according to Maybank Kim Eng analyst Yeak Chee Keong.

Thursday, March 26, 2015

Venture Corp cut to "hold" by OCBC; target unchanged at $8.41

Stock Name: Venture
Company Name: VENTURE CORPORATION LIMITED
Research House: OCBCPrice Call: HOLDTarget Price: 8.41



SINGAPORE (March 26): OCBC Investment Research has downgraded Venture Corp to "hold" from "buy" as the stock has breached its price target of $8.41.

Even so, business prospects for the contract electronics manufacturer remain favourable, underpinned by continued growth in the global semiconductor industry, according to OCBC analyst Carey Wong.

Mapletree Industrial Trust started at "buy", $1.74 target by Maybank Kim Eng

Stock Name: Mapletree Ind Tr
Company Name: MAPLETREE INDUSTRIAL TRUST
Research House: Maybank Kim EngPrice Call: BUYTarget Price: 1.74



SINGAPORE (March 26): Maybank Kim Eng has started coverage on Mapletree Industrial Trust (MIT) at "buy" and a price target of $1.74.

Two of MIT's build-to-suit projects - BTS Equinix and BTS-Hewlett Packard - will help offset risks stemming from Singapore's "below-trend" economic growth, according to Maybank Kim Eng analyst Joshua Tan.

MIT gets some 85% of its revenue from factories and 15% from business parks.

Mapletree Commercial Trust started at "hold", $1.43 target by Maybank Kim Eng

Stock Name: Mapletree Com Tr
Company Name: MAPLETREE COMMERCIAL TRUST
Research House: Maybank Kim EngPrice Call: HOLDTarget Price: 1.43



SINGAPORE (March 26): Maybank Kim Eng has started coverage on Mapletree Commercial Trust (MCT) at "hold" and a price target of $1.43.

"It's hard to find a mall in Singapore that is leveraged to both tourism and heartland spending, but MCT has that in Vivocity. The gateway to Sentosa, it commands tourist traffic," Maybank Kim Eng analyst Joshua Tan wrote in a note.

"With little direct competition in the vicinity, it has almost exclusive catchment from the Bukit Merah and Telok Blangah enclaves," he said.

Frasers Centrepoint Trust started at "hold", $2.03 target by Maybank Kim Eng

Stock Name: Frasers Cpt Tr
Company Name: FRASERS CENTREPOINT TRUST
Research House: Maybank Kim EngPrice Call: HOLDTarget Price: 2.03



SINGAPORE (March 26): Maybank Kim Eng has started coverage on Frasers Centrepoint Trust (FCT) at "hold" and a price target of $2.03.

FCT's six malls are located in the suburbs or outside Singapore's central region, leaving it with little competition, according to Maybank Kim Eng analyst Joshua Tan.

"With the exception of exception of its smallest mall, Bedok Point, (which accounts for) 5.1% of net property income, none faces serious head-on competition," he said.

Wednesday, March 25, 2015

Neptune Orient Lines upgraded to "buy" by Goldman Sachs; $1.30 target

Stock Name: NOL
Company Name: NEPTUNE ORIENT LINES LIMITED
Research House: Golman SachsPrice Call: BUYTarget Price: 1.30



SINGAPORE (March 25): Goldman Sachs has upgraded Neptune Orient Lines to "buy" from "neutral" and raised its price target to $1.30 from $1.00.

Given its significant exposure to the Transpacific route, NOL will benefit from an expected pickup in business, Goldman Sachs analyst Ronald Keung wrote in a sector report today.

SingHaiyi Group started at "buy", 19-cent target by RHB Securities

Stock Name: SingHaiyi Group
Company Name: SINGHAIYI GROUP LTD.
Research House: RHBPrice Call: BUYTarget Price: 0.19



SINGAPORE (March 25): RHB Securities Singapore has started coverage on SingHaiyi Group with a "buy" call and price target of 19 cents.

With retail, commercial and residential properties in the US in its portfolio, the developer is expected to benefit from rising US property prices and a stronger greenback, according to RHB analysts Ong Kian Lin and Ivan Looi.

The company bought three US properties at steep discounts to their market values in the last two years. Two of them are in San Francisco Bay.