Analysts Say

Analyst Reports & Brokers' Take On SGX Listed Stocks & REITs

05/21 PSR - Eyes Set On Growth Abroad

05/17 CIMB - Look Forward To Inorganic Growth

05/17 OIR - Investing For Growth

05/17 OIR - Watering Your Way To Our Hearts

05/16 MBKE - Deepening Suburban Reach

05/16 CIMB - Further Diversifying The Income Base

05/17 PSR - More Seasonal Effects

05/16 OIR - Repositioning Underway

05/15 CIMB - India Heading In The Right Direction

05/17 PSR - Lifted By Organic & Inorganic Growth

05/15 DBSV - Shifting Gears To Take A Pause

05/15 UOBKH - 1Q19 Slight Miss; But Positive Of An Australian Bounce

05/15 MBKE - Guarded Optimism

05/15 RHB - Cautious On Taxi Business Outlook

05/15 OIR - A Steady Ride

05/14 CIMB - Still Riding On Robust Public Transport Ahead

05/07 CIMB - A Win-Win Situation For ComfortDelGro & Drivers

05/17 PSR - A Sincere Stride Into China

05/16 RHB - Taking A Big Leap Into China

05/16 OIR - Sincere On China

05/15 CIMB - Busy 1Q19

05/16 UOBKH - 2QFY19 Results In Line

05/15 DBSV - A Chilli Crab Worth Ordering

05/15 CIMB - Results Affirmed Growth Recovery

05/16 RHB - Upbeat On 2Q19; Still Our Top Buy

05/16 UOBKH - Good Performance Is Sustainable

05/15 OIR - Boosted By Tropical Oils

05/13 DBSV - A Good Start Amid Tough Environment

05/13 UOBKH - 1Q19 Strong Results Despite Lower Soybean Crushing

05/13 RHB - Positive Surprise Despite Downbeat Guidance

05/10 CIMB - Rising To The Challenge

05/16 DBSV - Still-Weak Industry Fundamentals

05/15 CIMB - 2H19F Visibility Still Limited

05/14 DBSV - Mandatory Offer For JEP Holdings At S$0.15 Per Share

05/16 UOBKH - 4QFY19 Within Expectations, Offers 5.6% Dividend Yield In FY20

05/16 PSR - Remain Vested For Yield & Recovery

05/16 OIR - Patience Needed

05/15 MBKE - Challenging Times Reflected

05/15 DBSV - Associates’ Profits Back On Growth Trajectory

05/15 RHB - Significant Margin Headwinds; Stay NEUTRAL

05/15 CIMB - Steadier Waters In FY20F

05/13 DBSV - Associates’ Earnings – Critical Factor For Singtel Stock Price – To Recover From 4Q19F Onwards

05/16 UOBKH - 1Q19 Beats Expectations, Expects Higher Orderbook Recognition For Next 3 Quarters

05/16 DBSV - Conviction In Growth Story Intact

05/16 OIR - Engineering A Better Future

05/15 CIMB - Quality Refuge

05/16 UOBKH - 1Q19 Results Within Expectation; Lower FFB Production Growth Guidance

05/15 RHB - Weak Output From Older Estates In Riau

05/15 CIMB - Low Production & Palm Prices Hit 1Q19

05/15 MBKE - Slow Start Indeed To The Year

05/09 UOBKH - 1Q19 Results Preview: Another Quarter Hit By Lower ASP

05/06 MBKE - Expect A Slow Start To The Year

05/15 UOBKH - FY19 Earnings Beat Management’s Projections

05/15 PSR - Stability + Growth

05/15 OIR - Building For The Nation (and Unitholders)

05/14 DBSV - Capex Boost To Accelerate Long-Term Growth

05/14 MBKE - Financial Health Is Wealth

05/07 UOBKH - Pursuing Steady Residential Fibre Connection Growth

05/15 UOBKH - 3QFY19 Earnings In Line; A Clean Bill Of Health

05/15 MBKE - Stay The Course

05/15 PSR - No Pain, No Gain

05/14 CIMB - 3QFY6/19 Patience Needed For StarMed

05/13 MBKE - Healthy Vital Signs

05/15 PSR - An Accretive Acquisition & Longer Wale

05/14 RHB - Accretive Acquisition Of Fuzhou E-Commerce; Keep BUY

05/12 DBSV - Proposed Acquisition Of Fuzhou E-commerce Enhances Yield

05/15 UOBKH - 1Q19 Unexpected High Expenses; FFB Production In Line

05/15 DBSV - Earnings Cushion From Higher Output

05/14 MBKE - A Very Slow Start To The Year

05/14 RHB - Weak Start To The Year; Stay NEUTRAL

05/15 MBKE - Not Ready For Prime-Time

05/13 RHB - Wider NIM Amidst Sequentially Flat Loans

05/13 UOBKH - 1Q19 Record PPOP; Strong Capital Base To Guard Against Uncertainties

05/13 PSR - NIM Resurgence Dampened By OSV Allowances

05/11 CIMB - Hopefully The Last Pinch From OSV NPLs

05/10 CIMB - Best NIM & Trading; Slowest Loan Growth

05/14 DBSV - Unexciting Growth Prospects

05/14 OIR - Grounded For Now

05/13 UOBKH - 4QFY19 Earnings In Line, Aided By Engine Checks, But Unsure Of Sustainability

05/13 CIMB - Cash & Valuations

05/13 MBKE - On A Slow Flight To Stability

05/13 DBSV - New Era Brings New Opportunities

05/13 OIR - Class Shall Prevail

05/10 CIMB - Robust Operating Performance

05/13 UOBKH - 2QFY19 Drinking At A Slower Pace

05/13 RHB - Let’s Go For A Brew; Keep BUY

05/13 DBSV - Recovery On Track

05/13 PSR - Consumers Preferred Beer This Quarter

05/13 OIR - Take A Breather

05/10 UOBKH - 1Q19 Minor Earnings Beat

05/10 DBSV - Opportunity Lies Ahead

05/10 RHB - Muted Topline Growth; Keep NEUTRAL

05/10 OIR - Ambitious Expansion Can Be Digested

05/09 CIMB - 1Q19 Longer-Term Prospects In Mind

05/10 RHB - Solid 1Q19, Robust Outlook Ahead; Stay BUY

05/10 DBSV - Valuation & Diversification Play

05/10 CIMB - Industrial Automation Leads The Way Up

05/09 RHB - Riding The Industrial Automation Boom

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Latest Analyst Reports
on SGX Stocks & REITs

Latest Price Target Changes
of SGX Stocks & REITs

RECENT UPGRADES

RECENT DOWNGRADES

RECENT INITIATION

RAFFLES MEDICAL GROUP LTD (BSL.SI)
- Hurdles Before The Race

05/13: MBKE - HOLD

HEALTH MANAGEMENT INTL LTD (588.SI)
- Healthy Vital Signs

05/13: MBKE - BUY

FRENCKEN GROUP LIMITED (E28.SI)
- Riding The Industrial Automation Boom

05/09: RHB - BUY

SANLI ENVIRONMENTAL LIMITED (1E3.SI)
- Growth To Accelerate With Record Order Book

05/03: - OVERWEIGHT

Buy SG Banks On Further Price Correction

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20 Jewels 2019 Edition

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Singapore Monthly (May 2019)

Come What May

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Adding DBS

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INDUSTRY SECTOR RESEARCH REPORTS

Banking & Financial
Sector

Through The Fog Of War
Maybank Kim Eng 05/16

Consumer
Sector

Pinched Purse Strings, ASF And Levies
Maybank Kim Eng 04/17

Energy
Sector

No Sign Of Unwinding China’s Import Restriction
Phillip Securities 04/25

Healthcare
Sector

Time For A Health-Check
Maybank Kim Eng 05/13

Manufacturing
Sector

Valuation Insights From Industry Peers
CGS-CIMB 05/15

Manufacturing
Sector

High Gold Price To Drive Interest Towards Miners
03/12

Offshore/ Marine/ Shipyards
Sector

Higher For Longer This Time?
DBS Research 04/26

Plantation
Sector

Still Positive On CPO Prices
UOB Kay Hian 05/17

Property
Sector

New Rules On Buying Homes Using CPF & HDB Housing Loans
RHB Invest 05/10

REIT
Sector

Since Sector Downgrade, Flat To Negative REIT Returns
OCBC Investment 05/08

Telecommunication
Sector

5G Framework Encourages Network Sharing
DBS Research 05/08

Transportation
Sector

Earnings Preview ~ SIA & SIAEC Likely To Disappoint; STE & SATS Likely To Deliver Organic Growth
UOB Kay Hian 05/10

05/17 CITY DEVELOPMENTS LIMITED (C09.SI)	PSR
05/15 ISOTEAM LTD. (5WF.SI)	RHB
05/02 SHENG SIONG GROUP LTD (OV8.SI)	PSR
04/29 TALKMED GROUP LIMITED (5G3.SI)	RHB
04/25 ESR-REIT (J91U.SI)	OIR
04/16 UOL GROUP LIMITED (U14.SI)	DBSV
04/12 ASCOTT RESIDENCE TRUST (A68U.SI)	UOBKH
04/05 SINGAPORE POST LIMITED (S08.SI)	CIMB
04/03 SINGAPORE PRESS HLDGS LTD (T39.SI)	UOBKH
03/29 JUMBO GROUP LIMITED (42R.SI)	DBSV