OCBC upgraded to "buy", target raised to $11.70 by RHB

Stock Name: OCBC Bank
Company Name: OVERSEA-CHINESE BANKING CORP

Research House: RHB

Price Call: BUY

Target Price: 11.70

SINGAPORE (Dec 31): RHB has upgraded OCBC to "buy" from "neutral" and lifted its price target to $11.70 from $10.55 after raising its FY2015 and FY2016 earnings forecasts by 11% to factor in expected higher contributions from Wing Hang Bank and Bank of Ningbo.

The integration of OCBC Wing Hang is progressing well, and revenue drivers have been identified, according to RHB analyst Fiona Leong.

Areas of focus include selling treasury products to SME customers and structured products to retail clients; and introducing wealth management and advisory services.

Centurion Corp price target cut to 83 cents but kept at "buy" by OSK-DMG

Stock Name: Centurion
Company Name: CENTURION CORPORATION LIMITED

Research House: OSK-DMG

Price Call: BUY

Target Price: 0.83

SINGAPORE (Dec 24): OSK-DMG has reduced its price target for Centurion Corp to 83 cents from 89 cents to reflect its belief that rental revisions are likely to be subdued in the next few years.

Even so, it has kept its "buy" call on the stock, saying the builder of worker dormitory still has good growth prospects, especially with its latest tie-up with Lian Beng Group to develop a 7,900-bed accommodation and training centre right outside Jurong Island.

HanKore Environment price target raised to $1.27 by Maybank Kim Eng

Stock Name: HanKoreEnv
Company Name: HANKORE ENVIRONMENT TEC GRPLTD

Research House: Maybank Kim Eng

Price Call: BUY

Target Price: 1.27

SINGAPORE (Dec 5): Maybank Kim Eng has raised its price target for HanKore Environment Technology from $1.14 to $1.27, still pegged at 30 times earnings but based on FY2016 projections.

Its recommendation remains "buy".

"HanKore has rallied 20% in the past month but we believe it is still a stock to own for the next 12 months," Maybank Kim Eng analyst Wei Bin said in a note today.

The water treatment firm is expected to benefit from favourable government policies in China, he noted.

Nam Cheong cut to "hold", target cut to 39 cents by DBS Vickers

Stock Name: Nam Cheong
Company Name: NAM CHEONG LIMITED

Research House: DBS Vickers

Price Call: HOLD

Target Price: 0.39

SINGAPORE (Dec 4): DBS Vickers has downgraded Nam Cheong to "hold" from "buy" and cut its price target from 60 cents to 39 cents, based on seven times projected FY2015 earnings.

The changes reflect a de-rating of the oil and gas sector on the back of weaker oil prices.

Parkway Life REIT kept at 'buy' with $2.66 target price by DBS

Stock Name: ParkwayLife Reit
Company Name: PARKWAYLIFE REIT

Research House: DBS Vickers

Price Call: BUY

Target Price: 2.66

SINGAPORE (Dec 4): DBS Group Research is maintaining its "buy" call on Parkway Life REIT, with a price target of $2.66.

In a Dec 4 report, analysts Derek Tan and Andy Sim says P-Life REIT offers a good balance of visibility and growth. Asset recycling in Japan and future acquisitions are also potential re-rating catalysts for the stock.

P-Life REIT derives its income from a diversified base of healthcare-related properties with Singapore hospitals contributing 64% of revenues, Japan at 36% and Malaysia at less than 1%.

SingPost kept at 'buy' with lower target price $2.12 by DBS

Stock Name: SingPost
Company Name: SINGAPORE POST LIMITED

Research House: DBS Vickers

Price Call: BUY

Target Price: 2.12

SINGAPORE (Dec 4): DBS Group Research is reiterating its "buy" call on Singapore Post, albeit with a lower price target of $2.12 from $2.18.

In a Dec 3 report, analyst Sachin Mittal says SingPost's acquisition of CP Holdings is earnings accretive and buying the last-mile delivery player would enhance its existing capabilities in Asia.

M1 kept at 'buy' with $4 target price by UOB-KayHian

Stock Name: M1
Company Name: M1 LIMITED

Research House: UOB KayHian

Price Call: BUY

Target Price: 4.00

SINGAPORE (Dec 4): UOB-KayHian is reiterating its "buy" call on M1 Limited with a price target of $4.

In a Dec 4 report, analyst Jonathan Koh expects pent-up demand from customers who were waiting for the larger form factor offered by iPhone 6 and 6 Plus to be unleashed and the alleviation of supply constraint to produce positive net addition for the telco in 4Q14.

Boustead Singapore cut to "hold", target reduced to $1.88 by CIMB

Stock Name: Boustead
Company Name: BOUSTEAD SINGAPORE LIMITED

Research House: CIMB

Price Call: HOLD

Target Price: 1.88

SINGAPORE (Dec 3): CIMB has downgraded Boustead Singapore to "hold" from "add" and cut its price target from $2.06 to $1.88, based on a revised sum-of-parts valuation.

The sharp fall in oil prices over the last few months will mean fewer projects for the engineering firm's energy infrastructure division, according to CIMB analysts Roy Chen and William Tng, who cut their FY2016 earnings estimate for Boustead's energy arm by 36% to $15.2 million.

IPS Securex kept at 'buy' with target price of $1.26 by OSK-DMG

Stock Name: IPS Securex
Company Name: IPS SECUREX HOLDINGS LIMITED

Research House: OSK-DMG

Price Call: BUY

Target Price: 1.26

SINGAPORE (Dec 3): OSK-DMG is calling a buy on IPS Securex with a target price of $1.26.

In a Dec 3 report, analyst Jarick Seet says he is optimistic that IPS will clinch more contract wins and expand their product line in the near future.

Last night, IPS announced it has entered into a framework cooperation agreement with Bio-Nexus, which enables IPS to integrate Bio-Nexus's patented mobile workflow engine software platform into various solutions. IPS will also be the prime promoter to sell and market the solutions to Asean countries.

CapitaLand started at "buy", $3.82 target by AmFraser

Stock Name: CapitaLand
Company Name: CAPITALAND LIMITED

Research House: AmFraser

Price Call: BUY

Target Price: 3.82

SINGAPORE (Dec 2): AmFraser has started coverage on CapitaLand with a "buy" rating and price target of $3.82, pegged at a 25% discount to RNAV.

The developer's established presence across various real estate segments - residential, retail, commercial, serviced residences and integrated developments - is important given the cyclical nature of real estate markets, according to AmFraser analyst Wilson Liew.

The company is "sufficiently de-risked" from the Singapore market, having proactively adjusted its strategies to reduce inventory risks, Liew said in a note today.

Ascott Residence Trust kept at 'hold' with $1.30 price target by CIMB

Stock Name: Ascott Reit
Company Name: ASCOTT RESIDENCE TRUST

Research House: CIMB

Price Call: HOLD

Target Price: 1.30

SINGAPORE (Dec 2): CIMB Research is maintaining its "hold" rating on Ascott Residence Trust (ART) with an unchanged target price of $1.30.

In a report dated Dec 1 by analysts Pang Ti Wee, Lock Mun Yee and Tan Xuan, CIMB says that while downside earnings risk is limited by the master/minimum income lease structure of ART's portfolio, further room for organic or inorganic growth appears limited.

Biosensors kept at 'reduce' with 53 cents price target by CIMB

Stock Name: Biosensors
Company Name: BIOSENSORS INT'L GROUP, LTD.

Research House: CIMB

Price Call: SELL

Target Price: 0.53

SINGAPORE (Dec 2): CIMB Research is maintaining its "reduce" call on stent-maker Biosensors with an unchanged target price of 53 cents.

In a report dated Nov 27 by analyst Gary Ng, CIMB says there are potentially more blind spots for Biosensors, especially when restructuring efforts and sales strategy are unclear at the moment. Increased competition and price erosion remain the headwinds while royalty income continued to deteriorate.

Boustead kept at 'Add' with $2.06 price target by CIMB

Stock Name: Boustead
Company Name: BOUSTEAD SINGAPORE LIMITED

Research House: CIMB

Price Call: BUY

Target Price: 2.06

SINGAPORE (Dec 2): CIMB Research is maintaining its "add" call on Boustead Singapore with an unchanged target price of $2.06.

In a report dated Nov 27 by analysts Roy Chen and William Tng, CIMB says while Boustead's energy infrastructure business heading into 2015 faces some uncertainties due to the recent plunge in oil price. Nevertheless, it continues to like the stock for its diversified business portfolio and the strong track record of its management.

China Merchants Holdings kept at 'Add' with $1.10 price target by CIMB

Stock Name: CMPacific
Company Name: CHINA MERCHANTS HLDGS(PACIFIC)

Research House: CIMB

Price Call: BUY

Target Price: 1.10

SINGAPORE (Dec 2): CIMB Research is maintaining its "add" call on China Merchants Holdings (CMH) with an unchanged target price of $1.10.

In a report dated Nov 27, CIMB analysts Roy Chen and William Tng continue to like CMH for its high dividend yield, steady earnings stream and strong support from its parent China Merchant Group.

The analysts also expect CMH's toll revenue and earnings in 2015 to steadily increase, driven by organic traffic volume expansion and the maiden full-year contribution from Jiurui Expressway, the newly-acquired toll road.

Cache Logistics Trust kept at 'Add' with $1.34 price target by CIMB

Stock Name: Cache Log Trust
Company Name: CACHE LOGISTICS TRUST

Research House: CIMB

Price Call: BUY

Target Price: 1.34

SINGAPORE (Dec 2): CIMB Research is maintaining its "add" call on Cache Logistics Trust with an unchanged target price of $1.34.

In a report dated Nov 27 by analysts Pang Ti Wee, Lock Mun Yee and Tan Xuan, CIMB says Cache's outlook is looking positive, with no debts due till 2017, higher spot rent than the underlying rent for the leases due for renewal, and upcoming additional contribution from the BTS project.

CWT kept at 'Add' with $1.96 price target by CIMB

Stock Name: CWT
Company Name: CWT LIMITED

Research House: CIMB

Price Call: BUY

Target Price: 1.96

SINGAPORE (Dec 2): CIMB Research is maintaining its "add" call on CWT with an unchanged target price of $1.96.

In a report dated Nov 27, CIMB analyst Jessalynn Chen says in a time of falling commodity prices, CWT managed to deliver strong earnings growth of 68% from a year ago, proving that its earnings are more resilient than the market expects.

Chen believes the stock has been oversold on concerns about its commodity marketing segment and view the share price weakness as a good entry point.

Del Monte Pacific kept at 'Add' with 63 cents price target by CIMB

Stock Name: Del Monte Pac
Company Name: DEL MONTE PACIFIC LIMITED

Research House: CIMB

Price Call: BUY

Target Price: 0.63

SINGAPORE (Dec 2): CIMB Research is calling an "add" on Del Monte Pacific Limited (DMPL) with an unchanged target price of 63 cents.

In a report dated Nov 27, CIMB analyst William Tng says DMPL is not an appropriate investment for the short term as the company is expected to turnaround only in FY16 while the company's efforts to reduce gearing are still ongoing.

Ezion kept at 'Add' with $2.04 price target by CIMB

Stock Name: Ezion
Company Name: EZION HOLDINGS LIMITED

Research House: CIMB

Price Call: BUY

Target Price: 2.04

SINGAPORE (Dec 2): CIMB Research is calling an "add" on Ezion Holdings with an unchanged target price of $2.04.

In a report dated Nov 27, analyst Yeo Zhi Bin says Ezion's success in persuading national oil companies in this region to adopt the liftboat concept looks set to continue but catalysts could come from further orders.

To be sure, 2014 has been a mediocre year for Ezion as it struggled with project slippages, says Yeo. However, the company is seeking to get a better handle on projects by taking a controlling stake in a yard to better manage the projects.

Versalink Holdings started at "buy", 28.9-cent target by CIMB

Stock Name: Versalink
Company Name: VERSALINK HOLDINGS LIMITED

Research House: CIMB

Price Call: BUY

Target Price: 0.289

SINGAPORE (Dec 2): CIMB has started coverage on Versalink Holdings with a "buy" call and price target of 28.9 cents, based on 8.3 times projected FY2016 earnings.

The Malaysia-based maker of mid- to high-end office furniture is expected to get a boost to its exports as it signs on more dealers and as its major markets in the US and Europe pick up on the back of better economic conditions, according to CIMB.

Besides manufacturing, Versalink also provides services such as workspace planning and consulting to optimise floor space.

OUE Hospitality Trust upgraded to "buy" by OSK-DMG

Stock Name: OUE HTrust
Company Name: OUE HOSPITALITY TRUST

Research House: OSK-DMG

Price Call: BUY

Target Price: 0.97

SINGAPORE (Dec 1): OSK-DMG has upgraded OUE Hospitality Trust (OUEHT) to "buy" from "neutral" and raised its price target to 97 cents from 94 cents, saying its $495-million acquisition of Crowne Plaza Changi Airport hotel and an adjacent extension is positive.

"It would provide OUEHT a good opportunity to own a global brand name hotel asset which is directly connected to the Changi Airport passenger terminals," OSK-DMG analyst Ivan Looi said in a note today.

Triyards started at "buy", 98-cent target by Phillip Capital

Stock Name: Triyards
Company Name: TRIYARDS HOLDINGS LIMITED

Research House: Phillip Securities

Price Call: BUY

Target Price: 0.98

SINGAPORE (Dec 1): Phillip Capital has initiated coverage on Triyards Holdings with a "buy" rating and a price target of 98 cents, based on seven times projected earnings.

Demand for the company's self-elevating units (SEUs) and other offshore support vessels will remain intact despite weaker oil prices, according to Phillip Capital analyst Bakhteyar Osama.

OUE Hospitality Trust maintained at "hold" with 85 cents fair value by OCBC

Stock Name: OUE HTrust
Company Name: OUE HOSPITALITY TRUST

Research House: OCBC

Price Call: HOLD

Target Price: 0.85

SINGAPORE (Dec 1): OCBC Investment Research is maintaining its "hold" rating and $0.85 fair value on OUE Hospitality Trust (OUE-HT) for now, pending unitholders' approval at an EGM and further clarity on the debt and equity mix to finance the purchase.

Last Friday, OUE-HT announced that it has entered into conditional agreements to acquire Crowne Plaza Changi Airport (CPCA) for $290 million and the Crowne Plaza Changi Airport Extension (CPEX) for $205 million upon its completion from a subsidiary of its sponsor, OUE.

Giken Sakata started at 'buy' with 51 cents price target by Religare

Stock Name: Giken Sakata
Company Name: GIKEN SAKATA (S) LIMITED

Research House: Religare Capital

Price Call: BUY

Target Price: 0.51

SINGAPORE (Dec 1): Religare Institutional Research has initiated coverage of Giken Sakata with a buy call and a price target of 51 cents.

In a Nov 28 report, analyst Yan Ke says Giken Sakata has transformed itself from a precision machining business into a highly cash-generative onshore oil field play after its acquisition of Indonesian oil & gas assets via share acquisitions in Cepu Sakti Energy (CSE).