Yangzijiang price target raised to $1.54 by OCBC; "buy" call intact

Stock Name: YZJ Shipbldg SGD
Company Name: YANGZIJIANG SHIPBLDG HLDGS LTD

Research House: OCBC

Price Call: BUY

Target Price: 1.54

SINGAPORE (April 30): OCBC Investment Research has lifted its sum-of-parts price target for Yangzijiang Shipbuilding to $1.54 from $1.42 after rolling forward its valuation peg, which is now based on blended 2015/16 earnings for the shipbuilding business and 0.95 times book value for the company's held-to-maturity investment portfolio.

OCBC still has a "buy" call on the stock.

CDL Hospitality Trusts upgraded to 'add' by CIMB; $1.89 target intact

Stock Name: CDL HTrust
Company Name: CDL HOSPITALITY TRUSTS

Research House: CIMB

Price Call: BUY

Target Price: 1.89

SINGAPORE (Apr 30): CDL Hospitality Trusts (CDL-HT) is expected to benefit from the upcoming SEA games, according to CIMB Research.

"On the back of a stronger outlook, we upgrade out call on CDL-HT to an "add" with an unchanged target price of $1.89," said CIMB Research in a note released on April 30.

"We believe that CDL-HT is well-positioned to benefit from the upcoming SEA Games as four out of six of its hotels have been arranged to provide accommodation for the athletes and their entourages," it added.

Thai Beverage kept at 'add' by CIMB with unchanged target price of 82 cents

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

Research House: CIMB

Price Call: BUY

Target Price: 0.82

SINGAPORE (Apr 30): CIMB Research has maintained its "add" call on Thai Beverage with an unchanged target price of 82 cents.

"2015 looks like the year for Thai Beverage to ride on the sustained turnaround in beer's profitability and to use the free cashflow from alcohol to expand its non-alcoholic business," said CIMB analysts Kenneth Ng and Jonathan Seow in a research note released on April 29.

Jardine Cycle & Carriage kept at 'neutral' with target price of $37.50

Stock Name: Jardine C&C
Company Name: JARDINE CYCLE & CARRIAGE LTD

Research House: Golman Sachs

Price Call: HOLD

Target Price: 37.50

SINGAPORE (Apr 30): Goldman Sachs has maintained its "neutral" call on Jardine Cycle & Carriage (JCC) with a target price of $37.50.

Jardine C&C reported 1QFY2015 net profit of US$178 million, an 18% decline y-o-y, 20% below Goldman Sachs' expectations. The miss came mainly from its poor Astra International results.

Non-Astra results were in line with Goldman Sachs' expectations with Vietnam delivering strong unit sales and good margins.

Memtech started at "add", 22-cent price target by CIMB

Stock Name: Memtech Intl
Company Name: MEMTECH INTERNATIONAL LTD

Research House: CIMB

Price Call: BUY

Target Price: 0.22

SINGAPORE (April 29): CIMB has started coverage on Memtech International with an "add" rating and a price target price of 22 cents, which is based on 10 times projected FY2016 earnings.

"Memtech appears set for multi-year earnings growth as the company successfully transitions towards serving automotive customers after the demise of the handset keypad industry," CIMB analyst William Tng wrote in a note.

Singapore-based Memtech makes high-end silicone rubber and plastic components used in the automotive, telecommunications and consumer electronics industries.

Raffles Medical upgraded to "buy", target raised to $4.70 by RHB

Stock Name: Raffles Medical
Company Name: RAFFLES MEDICAL GROUP LTD

Research House: RHB

Price Call: BUY

Target Price: 4.70

SINGAPORE (April 29): RHB Securities Singapore has upgraded Raffles Medical Group to "buy" from "neutral" and lifted its price target to $4.70, which is based on a discounted cash flow valuation.

"With several confirmed new spaces coming on stream, we believe Raffles Medical Group is at an inflexion point for its next stage of growth," RHB analysts James Koh and Juliana Cai wrote in a note today.

DBS kept at 'buy' by RHB Research with higher target price of $23.30

Stock Name: DBS
Company Name: DBS GROUP HOLDINGS LTD

Research House: RHB

Price Call: BUY

Target Price: 23.30

SINGAPORE (Apr 28): DBS Group Holdings' core earnings is expected to grow 14% in FY15, supported by healthy income growth and a stable credit cost, according to RHB Research Institute.

It said DBS Group offers the "best leverage" to the rise in Singapore's short-term rates, with evidence of net interest margin (NIM) expansion becoming evident from the second quarter last year.

RHB raised target price to $23.30 from $22.30 previously and retained a "buy" call for the stock.