KrisEnergy kept at "outperform" with 80-cent target by Macquarie

Stock Name: KrisEnergy
Company Name: KRISENERGY LTD.

Research House: Macquarie

Price Call: BUY

Target Price: 0.80

SINGAPORE (Jan 7): Macquarie Research has kept its "outperform" call and 80-cent price target on KrisEnergy, saying the Southeast Asia-focused oil and gas explorer offers "fundamental" value even as oil prices continue to fall.

The company said last week the Indonesian government has approved its plan to develop a gas field in East Java, paving the way for KrisEnergy to pursue talks with potential buyers for gas sales agreements.

KrisEnergy's so-called Bulu production sharing contract covers three areas spanning a total of 697sq km in water depths of 50m to 60m.

OUE Hospitality Trust target raised to $1 by CIMB

Stock Name: OUE HTrust
Company Name: OUE HOSPITALITY TRUST

Research House: CIMB

Price Call: BUY

Target Price: 1.00

SINGAPORE (Jan 7): CIMB has increased its price target for OUE Hospitality Trust (OUE-HT) to $1 from 96 cents to factor in additional income from Crowne Plaza Hotel at Changi Airport, which the property trust will spend $495 million to acquire.

The acquisition will boost OUE-HT's distribution per unit by 0.1% in FY2015 and 2.5% in FY2016, according to CIMB analyst Pang Ti Wee, who has an "add" rating on the stock.

CapitaLand target raised to $3.86 by Citi; "buy" call kept

Stock Name: CapitaLand
Company Name: CAPITALAND LIMITED

Research House: Citigroup

Price Call: BUY

Target Price: 3.86

SINGAPORE (Jan 6): Citi Research has raised its price target for CapitaLand from $3.35 to $3.86 to reflect the developer's strong business model, which it believes would mitigate any volatility in earnings that might stem from a downturn in the housing markets in Singapore and China.

Among other things, the sale of Australand and privatisation of CapitaMalls Asia (CMA) have given CapitaLand "a more strategically aligned business", according to Citi analyst Adrian Chua.

The developer sold its remaining 39.1% stake in Australand and privatised CMA last year.

Keppel Land target cut to $3.98 by Citi; "buy" call kept

Stock Name: Keppel Land
Company Name: KEPPEL LAND LIMITED

Research House: Citigroup

Price Call: BUY

Target Price: 3.98

SINGAPORE (Jan 6): Citigroup has cut its price target for Keppel Land to $3.98 from $4.05 to reflect the developer's asset divestments last year.

The sale of Equity Plaza and Marina Bay Financial Centre Tower 3 has left a "gap" in Keppel Land's recurring income stream, leaving it with no direct exposure to the Singapore office market, Citi analyst Adrian Chua said in a note.

While Keppel Land has redeployed the sales proceeds into the commercial property market in other Southeast Asian countries, it would take "some years" to build up a recurring income stream, he said.

Centurion Corp price target cut 5% to 86 cents by UOB Kay Hian

Stock Name: Centurion
Company Name: CENTURION CORPORATION LIMITED

Research House: UOB KayHian

Price Call: BUY

Target Price: 0.86

SINGAPORE (Jan 5): UOB Kay Hian has cut its price target for Centurion Corp to 86 cents from 90.5 cents after lowering its earnings forecasts for 2014 to 2016 by 2% to 8%.

The change reflects higher interest costs related to its recent joint venture with Lian Beng Group to build a 7,900-bed workers accommodation and training centre at Jalan Papan, near Jurong Island.

It also factors in "a more conservative" rental and occupancy forecast for Centurion's dormitories in Singapore.

Giken Sakata kept at "buy" by OSK-DMG with 65-cent target

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

Research House: OSK-DMG

Price Call: BUY

Target Price: 0.65

SINGAPORE (Jan 5): OSK-DMG has kept its "buy" call and 65-cent price target for Giken Sakata, saying the Indonesia-focused oil and gas producer will be immune to volatility in oil prices even as it ramps up production.

"Our central case is for at least 22 months of oil price immunity," said analysts Lee Yue Jer and Jesalyn Wong in a note today.

Keppel Corp target cut 10.3% to $11.30 by OSK-DMG

Stock Name: Keppel Corp
Company Name: KEPPEL CORPORATION LIMITED

Research House: OSK-DMG

Price Call: BUY

Target Price: 11.30

SINGAPORE (Jan 5): OSK-DMG has cut its price target for Keppel Corp from $12.60 to $11.30, valuing the conglomerate's offshore and marine business at 15 times forward earnings instead of 18 times previously to reflect the stock's "mid-cycle" valuations.

Keppel's shares have pulled back substantially in recent months on the back of falling oil prices, which have fuelled concerns that demand for the company's rigs would weaken.