Thursday, April 19, 2012

UOBKH - SIN: Summary Stock Recommendations

Stock Name: Capitaland
Company Name: CAPITALAND LIMITED
Research House: UOB KayHianPrice Call: BUYTarget Price: 3.40

Stock Name: CITYDEV
Company Name: CITY DEVELOPMENTS LIMITED
Research House: UOB KayHianPrice Call: SELLTarget Price: 9.20

Stock Name: GuocoLand
Company Name: GUOCOLAND LIMITED
Research House: UOB KayHianPrice Call: HOLDTarget Price: 2.10

Stock Name: Ho Bee
Company Name: HO BEE INVESTMENT LIMITED
Research House: UOB KayHianPrice Call: BUYTarget Price: 1.75

Stock Name: KepLand
Company Name: KEPPEL LAND LIMITED
Research House: UOB KayHianPrice Call: BUYTarget Price: 3.60

Stock Name: OUE Ltd
Company Name: OVERSEAS UNION ENTERPRISE LTD
Research House: UOB KayHianPrice Call: BUYTarget Price: 2.90

Stock Name: SCGlobal
Company Name: SC GLOBAL DEVELOPMENTS LTD
Research House: UOB KayHianPrice Call: HOLDTarget Price: 1.30

Stock Name: Wheelock
Company Name: WHEELOCK PROPERTIES (S) LTD
Research House: UOB KayHianPrice Call: HOLDTarget Price: 2.00

Stock Name: Wing Tai
Company Name: WING TAI HLDGS LTD
Research House: UOB KayHianPrice Call: BUYTarget Price: 1.50

Stock Name: Ascendasreit
Company Name: ASCENDAS REAL ESTATE INV TRUST
Research House: UOB KayHianPrice Call: SELLTarget Price: 1.90

Stock Name: AscottREIT
Company Name: ASCOTT RESIDENCE TRUST
Research House: UOB KayHianPrice Call: BUYTarget Price: 1.25

Stock Name: CACHE
Company Name: CACHE LOGISTICS TRUST
Research House: UOB KayHianPrice Call: BUYTarget Price: 1.10

Stock Name: CapitaComm
Company Name: CAPITACOMMERCIAL TRUST
Research House: UOB KayHianPrice Call: HOLDTarget Price: 1.15




Stock Recommendations

Price
Target
Upside/
Market
Curr
Fwd
Curr
Fwd
Book
Price/
Fwd
Net
Company
Ticker
Rec
18-Apr-12
Price
(Downside)
Cap.
PE
PE
Yield
Yield
NAV ps
Book
RNAV ps
ROE
Gearing *
(S$)
(S$)
to TP (%)
(US$m)
(x)
(x)
(%)
(%)
(S$)
(x)
(S$)
(%)
(%)
Developers
CapitaLand CAPL SP
BUY
2.93
3.40
16.0
9,950.6
17.6
13.0
2.4
2.7
3.51
0.83
4.27
4.7
30.8
City Devt CIT SP
SELL
10.45
9.20
(12.0)
7,592.6
12.1
14.1
1.7
1.4
7.51
1.39
11.52
9.7
20.7
GuocoLand GUOL SP
HOLD
1.9
2.10
10.5
1,796.5
10.8
6.1
4.7
4.7
2.08
0.91
2.98
8.4
168.1
Ho Bee HOBEE SP
BUY
1.37
1.75
27.7
771.9
4.9
7.0
2.9
2.2
2.34
0.59
2.28
8.4
27.1
Keppel Land KPLD SP
BUY
3.34
3.60
7.8
3,979.0
13.9
10.1
3.0
3.0
3.64
0.92
4.83
6.4
10.4
OUE OUE SP
BUY
2.33
2.90
24.5
1,694.1
6.3
15.5
5.6
3.0
3.21
0.73
3.86
4.5
57.9
SC Global SCGD SP
HOLD
1.055
1.30
23.2
349.5
3.3
4.0
1.9
1.9
1.59
0.66
2.19
15.3
170.3
Wheelock WP SP
HOLD
1.795
2.00
11.4
1,716.2
7.4
12.4
3.3
3.3
2.42
0.74
2.67
5.9
(31.8)
Wing Tai WINGT SP
BUY
1.255
1.50
19.5
783.0
4.9
5.8
4.0
3.2
2.43
0.52
2.16
10.0
24.1
REITs
Ascendasreit AREIT SP
SELL
2.04
1.90
(6.9)
3,398.8
15.5
15.1
6.6
6.8
1.88
1.09
1.88
7.2
36.2
AscottREIT ART SP
BUY
1.095
1.25
14.2
990.9
15.8
15.5
7.8
8.0
1.36
0.80
1.35
5.1
35.0
CACHE CACHE SP
BUY
1
1.10
10.0
558.4
14.3
14.1
7.8
8.0
0.93
1.08
0.93
7.9
27.7
CapitaComm CCT SP
HOLD
1.235
1.15
(6.9)
2,798.4
18.3
16.9
6.1
6.4
1.60
0.77
1.40
4.5
21.3
CapitaMall CT SP
BUY
1.84
2.10
14.1
4,894.7
20.6
18.9
5.3
5.8
1.59
1.16
1.58
5.7
28.0
CDL Htrust CDREIT SP
HOLD
1.875
1.85
(1.3)
1,445.5
18.0
17.9
5.7
5.8
1.60
1.17
1.60
6.5
21.9
FrasersCT FCT SP
BUY
1.55
1.75
12.9
1,018.7
17.9
16.8
5.9
6.3
1.42
1.10
1.40
6.2
29.7
Frasers Comm FCOT SP
BUY
0.88
0.93
5.7
448.5
16.7
14.1
7.3
8.4
1.35
0.65
1.56
3.6
32.1
K-REIT KREIT SP
HOLD
1.0
0.95
(5.0)
2,039.4
23.3
21.4
7.5
7.3
1.27
0.79
0.68
5.2
36.1
MapletreeInd MINT SP
BUY
1.13
1.30
15.0
1,470.7
14.8
14.3
7.3
7.4
0.96
1.18
0.92
8.6
34.7
MapletreeLog MLT SP
BUY
0.97
1.05
8.2
1,880.6
13.2
12.7
7.1
7.2
0.86
1.13
1.01
7.9
37.7
PLife REIT PREIT SP
BUY
1.865
2.05
9.9
901.5
18.9
18.2
5.2
5.6
1.48
1.26
1.52
6.6
32.1
Sabana REIT SSREIT SP
HOLD
0.975
0.90
(7.7)
496.5
11.3
11.8
9.7
9.4
1.07
0.91
1.07
8.1
30.3
Starhill Gbl SGREIT SP
BUY
0.64
0.70
9.4
993.6
13.9
13.3
6.7
7.0
0.86
0.74
0.89
5.2
26.7
Suntec REIT SUN SP
BUY
1.255
1.35
7.6
2,237.7
16.5
17.5
7.4
7.1
1.99
0.63
1.97
3.9
35.9



Source: Bloomberg, UOB Kay Hian

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