Ezion Holdings kept at 'buy' on price recovery by DBS Group Research

Stock Name: Ezion
Company Name: EZION HOLDINGS LIMITED

Research House: DBS Vickers

Price Call: BUY

Target Price: 1.20

SINGAPORE (June 22): DBS Group Research has reiterated its "buy" call on Ezion Holdings as it believes the company's stock price would soon recover to the $1.20 level.

In a research note released on June 22, DBS observes that Ezion is well-positioned to benefit from the rising popularity of liftboats in this region, capitalising on its first mover-advantage.

"We believe service rigs are in an early growth phase, buoyed by the substitution effect to replace typical work boats/barges in this region," says DBS.

Super kept at 'hold' by DBS with lower target price to $1.25 on slowing growth

Stock Name: Super Group
Company Name: SUPER GROUP LTD.

Research House: DBS Vickers

Price Call: HOLD

Target Price: 1.25

SINGAPORE (June 19): DBS Vickers has trimmed its target price on Super Group from $1.45 to $1.25 but maintaining its "hold" call, as the company's recovery is seen in progress albeit at a gradual pace.

"We believe earnings momentum will be back-end loaded beyond 2H2015. Management may be lining up new products for launch over this period but regional consumer sentiment remains tepid," say analysts Alfie Yeo and Andy Sim in a June 19 note.

Guocoleisure kept at 'add' with unchanged price target of $1.18 by CIMB

Stock Name: GuocoLeisure
Company Name: GUOCOLEISURE LIMITED

Research House: CIMB

Price Call: BUY

Target Price: 1.18

SINGAPORE (June 19): CIMB Research is maintaining its "Add" call for the hotel and property developer, Guocoleisure (GLL) with an unchanged target price of $1.18 for its promising ongoing development.

GLH, the hotel arm of GLL, has a new Value Centre General Manager (VCGM) model that is disrupting the conventional hotel investment and management business, says the research house.

GLL's strategy for its hotel business is to focus on decentralisation - this is unlike large hotel chains that typically have centralised decision-making model.

Capitaland Commercial Trust raised to 'hold' with higher target price of $1.63 by Daiwa

Stock Name: CapitaCom Trust
Company Name: CAPITALAND COMMERCIAL TRUST

Research House: Daiwa

Price Call: HOLD

Target Price: 1.63

SINGAPORE (June 19): Daiwa Capital Markets has raised its recommendation on Capitaland Commercial Trust (CCT) from "underperform" to "hold", as the recent decline in share price makes it no longer overvalued.

However, Daiwa's analyst David Lum, in his June 18 note, has also trimmed his target price on the stock to $1.57 from $1.63 previously, to take into account lower earnings estimates.

FCL kept at 'add' with $2.02 target price by CIMB with $760 million UK hotels deal

Stock Name: Frasers Cpt
Company Name: FRASERS CENTREPOINT LIMITED

Research House: CIMB

Price Call: BUY

Target Price: 2.02

SINGAPORE (June 18): CIMB estimates that the Frasers Centrepoint Ltd's (FCL) £364 million ($760 million) purchase of hotels in UK will add between 1-5% to the company's earnings, with possible further upside given the visible acquisition pipeline.

"We see the acquisition as strategic as it will increase FCL's leverage into the key UK tourist market, which saw a 3.7% CAGR over the past four years, via a strong and scalable platform," writes analyst Lock Mun Yee in a June 18 note. She maintains her "add" call and target price of $2.02 on the stock.

First Resources is 'buy' with $2.40 target price by UOB despite El Nino

Stock Name: First Resources
Company Name: FIRST RESOURCES LIMITED

Research House: UOB KayHian

Price Call: BUY

Target Price: 2.40

SINGAPORE (June 18): UOB KayHian has reiterated its preference for First Resources given its good productivity track record. The company is also seen as a beneficiary of new policies in Indonesia and crude palm oil price movements.

"First Resources' share price delivers the best performance among the Singapore-listed plantation companies, as crude palm oil and soybean oil prices recover post biodiesel-friendly announcements by Indonesia, Malaysia and the US," states UOB KayHian analysts in a June 18 note, with a "buy" call and target price of $2.40.

Regal International started at 'buy' with 52 cents target price by NRA Capital

Stock Name: Regal Intl
Company Name: REGAL INTERNATIONAL GROUP LTD.

Research House: NRA Capital

Price Call: BUY

Target Price: 0.52

SINGAPORE (June 18): NRA Capital has initiated coverage on Malaysian developer Regal International Group, with a "overweight" call and fair value of 52 cents.

Regal entered the Singapore market via the reverse takeover of precision parts maker Hisaka Holdings back in Oct 2014, which remains in operation even after the $20 million deal.

The company, now 65.5% owned by executive chairman and CEO Su Chung Jye, focuses on property development Kuching, the East Malaysian state of Sarawak.

Noble cut to 'neutral' with 77 cents target price by Goldman

Stock Name: Noble
Company Name: NOBLE GROUP LIMITED

Research House: Golman Sachs

Price Call: HOLD

Target Price: 0.77

SINGAPORE (June 17): Noble Group is coming under renewed pressure as Goldman Sachs downgraded the stock from "buy" to "neutral", along with a reduced target price of 77 cents from $1.30, as commodity prices continue to soften.

Weak commodity prices, in turn, will hurt Noble's profitability and cash generation from derivative assets, state analysts Nikhil Bhandari and Nelson Goh in a June 17 note.

Super Group kept at 'buy' with target price of $1.57 by Kim Eng

Stock Name: Super Group
Company Name: SUPER GROUP LTD.

Research House: Maybank Kim Eng

Price Call: BUY

Target Price: 1.57

SINGAPORE (June 17): That boy El Nino is back but his reappearance won't necessarily cause coffee manufacturer Super Group to break out in a sweat.

Weather soothsayers are saying that the El Nino effect is set to be stronger this year, which will hit the production and therefore prices of soft commodities, from coffee to palm oil to sugar. This might add pressure to Super's cost base, says Maybank Kim Eng.

CIMB sees buying opportunity in ST Engineering, backed by better prospects

Stock Name: ST Engineering
Company Name: SINGAPORE TECH ENGINEERING LTD

Research House: CIMB

Price Call: BUY

Target Price: 3.93

SINGAPORE (June 17): The recent drop in shares of ST Engineering is seen as a buying opportunity, as the company is set to enjoy improving prospects across its various business units this coming year and beyond, says CIMB.

A long-time favourite of investors hankering after a defensive play, ST Engineering is now trading below its seven-year mean of 19 times PE.

"Potential catalysts include sizeable contract wins in electronics and stronger MRO demand," writes CIMB analyst Lim Siew Khee in a June 16 note, where she maintains her "add" call and target price of $3.93.

Wilmar kept at 'buy' with TP of $4.04 by Maybank Kim Eng

Stock Name: Wilmar Intl
Company Name: WILMAR INTERNATIONAL LIMITED

Research House: Maybank Kim Eng

Price Call: BUY

Target Price: 4.04

SINGAPORE (June 15): Maybank Kim Eng is maintaining its 'buy' call and target price of $4.04 for Wilmar International based on 15x P/E.

In a report out today, analyst Wei Bin says that although Wilmar is exposed to El Nino through its CPO, soybean and sugar crop, the worst impact on the agri-commodity trader is a 6% drop on PBT.

Last Wednesday, Japan's Meteorological Agency warned that El Nino is growing stronger and that its effects could last until winter.

Thai Beverage kept at 'buy' with 83 cents fair value by OCBC

Stock Name: ThaiBev
Company Name: THAI BEVERAGE PUBLIC CO LTD

Research House: OCBC

Price Call: BUY

Target Price: 0.83

SINGAPORE (June 15): OCBC Securities has maintained its "buy" call and target price of 83 cents on Thai Beverage Public Company Ltd as Thailand's broader economic prospects remain firm, which, will in turn, support consumption of the company's products.

iFAST kept at 'buy' with higher TP of $1.73 by DBS

Stock Name: IFAST
Company Name: IFAST CORPORATION LTD.

Research House: DBS Vickers

Price Call: BUY

Target Price: 1.73

SINGAPORE (June 12): DBS Group Research is keeping its "buy" call on iFAST Corp, the online distributor of investment products, with a higher $1.73 price target.

In a report out today, DBS likes iFAST as it offers investors a unique investment proposition and is planning new initiatives to drive growth.

iFAST's key performance driver lies in the growth of Assets Under Administration (AUA), which generates recurring revenues, says DBS in a report out today.

Bumitama Agri kept at 'buy' with $1.26 target price by DBS

Stock Name: Bumitama Agri
Company Name: BUMITAMA AGRI LTD.

Research House: DBS Vickers

Price Call: BUY

Target Price: 1.26

SINGAPORE (June 12): DBS Group Research has kept its 'buy' call on upstream palm oil play Bumitama Agri with a target price of $1.26.

"We peg BAL's TP at $1.26/share, based on DCF valuation. This implies FY16F PE of 14.3x," says analyst Ben Santoso in a report out today.

Santoso says aggressive expansion in FY05-FY13 has kept the age profile of trees at Bumitama younger compared to peers at 5.5 years.

Santoso expects this to deliver 14% CAGR in Fresh Fruit Bunch output over the next three years.

XMH kept at 'buy' with 30 cents target price by RHB

Stock Name: XMH
Company Name: XMH HOLDINGS LTD.

Research House: RHB

Price Call: BUY

Target Price: 0.30

SINGAPORE (June 12): RHB is maintaining its 'buy' call on XMH, the customised propeller engine supplier, with a 30 cents target price with subsidiaries Mech-Power Generator (MPG) and Z-Power securing contracts worth $23.1 million with deliveries stretching into 2017.

Z-Power was also awarded the prestigious ABB Value Provider Certification.

"We believe that strong operations at these subsidiaries could contribute to XMH's 75% FY16F earnings growth," says XMH in a June 11 report.

MPG and Z-Power were awarded contracts of $15.5 million and $7.6 million.

Ho Bee Land kept at 'buy' by UOB with target price of $2.86

Stock Name: Ho Bee Land
Company Name: HO BEE LAND LIMITED

Research House: UOB KayHian

Price Call: BUY

Target Price: 2.86

SINGAPORE (June 11): UOB Kay Hian has maintained its "buy" call on Ho Bee Land with a target price of $2.86.

Analyst Vikrant Pandey says Ho Bee's London properties should contribute significantly to recurring income over the next few years.

"Ho Bee's very sizeable commercial portfolio, well in excess of $2 billion, could also well pave the way for a commercial REIT spin-off", wrote Pandey in a note after a company visit. "With a high trading discount to RNAV and a low free float of less than 25%, it remains a palatable candidate for privatisation plays," he added.

OUE kept at 'hold' with price target of $2.05 by Maybank Kim Eng

Stock Name: OUE Com Reit
Company Name: OUE COMMERCIAL REIT

Research House: Maybank Kim Eng

Price Call: HOLD

Target Price: 2.05

SINGAPORE (June 11): Integrated property developer OUE announced on June 10 that it has entered into a conditional sale and purchase agreement with OUE Commercial Real Estate Investment Trust (OUE C-REIT) for the sale and transfer of its shareholding interest in OUB Centre (OUBC).

OUBC is the registered owner of One Raffles Place and owns 81.54% of the beneficial interest in One Raffles Place.

Under the terms of the agreement, OUE will inject into OUE C-REIT all of its ordinary shares in Beacon Property Holdings (BPH), a wholly-owned subsidiary of the company.

Singtel kept at 'hold' with price target of $4.50 by Maybank Kim Eng

Stock Name: SingTel
Company Name: SINGTEL

Research House: Maybank Kim Eng

Price Call: HOLD

Target Price: 4.50

SINGAPORE (June 11): At its annual Investor Day on June 3, Singtel outlined plans for the entire group to aggressively pursue data growth.

The group has also taken to heart the digital initiatives of Group Digital Life and has launched products that leverage Singtel's investments.

In Singapore, the telco intends to develop its data business further by drawing more home and mobile customers towards fibre and tiered data plans.

At 71% and 61% penetration respectively, it believes there is room for growth.

Vard Holdings kept at 'sell' with price target of 47 cents by RHB

Stock Name: Vard
Company Name: VARD HOLDINGS LIMITED

Research House: RHB

Price Call: SELL

Target Price: 0.47

SINGAPORE (June 10): Vard Holdings has secured its first contract this year for one diving support and construction vessel for Singapore-based Kreuz Subsea.

This 105-men, DP2 class vessel will be of VARD 3 17 design with a total length of 91.2 metres and is scheduled for delivery from Norway in 2Q2017. It has an estimated value of NOK700 million.

The vessel will also have a 100-tonne active heave-compensated offshore crane, a 12-man diving bell system and is prepared for remotely-operated vehicles.

OCBC kept at 'buy' by DBS with higher target price of $12.80

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

Research House: DBS Vickers

Price Call: BUY

Target Price: 12.80

SINGAPORE (June 10): DBS Group Research is maintaining its "buy" recommendation on Oversea-Chinese Banking Corp. or OCBC, raising its target price by 10 cents to $12.80.

In a report out today, DBS believes OCBC-Wing Hang's Greater China franchise is still unappreciated.

Although integration is still on-going, signs of improvement are visible in its wealth management income line, it adds.

Comfortdelgro's cash gives it firepower, says CIMB

Stock Name: ComfortDelGro
Company Name: COMFORTDELGRO CORPORATION LTD

Research House: CIMB

Price Call: BUY

Target Price: 3.42

SINGAPORE (June 9): CIMB reiterates its add recommendation and $3.42 target on Comfortdelgro, saying it remains its preferred pick in Singapore's land transport sector.

The broker it thinks the Singapore public transport firm's strong balance sheet means it can make earnings-accretive.

The key catalysts include earnings contribution from a new train line in Singapore and overseas expansion, CIMB says after the meeting.

Comfortdelgro is down 1.3% at $3.04, while the benchmark FTSE Straits Times Index is down 0.6%.

IPS Securex kept at 'buy' with $1.01 target price by RHB

Stock Name: IPSSecurex
Company Name: IPS SECUREX HOLDINGS LIMITED

Research House: RHB

Price Call: BUY

Target Price: 1.01

SINGAPORE (June 9): IPS Securex has received an earlier-than-expected US$4 million ($5.4 million) purchase order for PepperBall propducts, which will contribute to FY2015 net profit after tax.

Growth, however, will be limited by one-off costs from its co-manufacturing partnership.

RHB maintains its "buy" call on IPS Securex at $1.01 target price, a 28% upside and at FY2016 forward price-to-earnings.

The research house cites its purchase order as being a vote of confidence for PepperBall products.