Analysts Say

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

05/25 OIR - Stable Core Operations

05/18 CIMB - Stable Performance

05/18 MBKE - Resilient Core Business

05/18 UOBKH - 4QFY22 Above Expectation; Network Expansion Lifts Fibre Connections

05/25 UOBKH - 1Q22 Impacted By Mounting Cost Pressures & Automobile Disruptions

05/23 RHB - Hit By Rising Cost Pressures

05/18 MBKE - Supply Chain Challenges Hurt Margins

05/18 CIMB - Striving To Defend Margins

05/20 UOBKH - FY22 Results In Line; Emerging Strong In FY23

05/19 CIMB - Risk-Reward Now In Balance: Downgrade To HOLD

05/20 PSR - Construction Sector Recovery Surpasses Our Estimates

05/12 CIMB - Riding On Industry Tailwinds

05/20 RHB - Brighter Days Ahead; Stay BUY

05/13 MBKE - Not A Bad Start To FY22

05/13 CIMB - Time To Step Up Its Game

05/10 MBKE - Earlier Recovery But Return To Pre-COVID-19 Levels Unlikely

05/18 RHB - Earnings Recovery To Normalcy Continues; BUY

05/17 PSR - Modest Recovery But Huge Operating Leverage

05/17 UOBKH - 1Q22 Mixed Results Due To Omicron

05/15 MBKE - Room To Move

05/17 PSR - Beer Leading The Recovery

05/17 RHB - Sustainable Recovery Outlook; Stay BUY

05/17 RHB - Defensive Amidst An Uncertain Economic Outlook

05/13 CIMB - Defensive Giant In Trying Times

05/17 PSR - Tracking Our Forecast

05/12 MBKE - Delivering Growth

05/17 RHB - Decent Start To The Year

05/16 MBKE - A Decent Start To The Year

05/13 RHB - 1Q22 Earnings Skyrocket 400% Y-o-y; Reiterate BUY

05/12 MBKE - A Stellar 1Q Results

05/13 PSR - Coping Well In A Softer Year

05/13 SAC - 1Q22 Results In Line, Expect Stronger 2H

05/13 RHB - Weak FFB Output To Start The Year

05/12 CIMB - Expect A Weaker 2Q Due To Export Ban

05/11 CIMB - No Slowdown Seen In FY22F

05/11 MBKE - Resilient Profitability

05/11 PSR - Stepping Up Leasing And Portfolio Rebalancing Initiatives

05/10 OIR - Downside Protection From Minimal Lease Expiry Profile

05/10 RHB - A Slow Return To The Office; Keep BUY

05/09 CIMB - Focus On Portfolio Resilience

05/09 UOBKH - FY22 Results In Line; Expecting Stronger FY23 Driven By Accelerated Recovery

05/09 OIR - Recovery Gaining Momentum

LEGENDS:
Stock Rating Uprade. Stock Rating Downgrade.
Add / Buy / Accumulate. Hold / Neutral. Reduce / Sell / Take Profit / Fully Valued.
Coverage Initiation.

Latest Analyst Reports
on SGX Stocks & REITs

Latest Price Target Changes
of SGX Stocks & REITs

RECENT UPGRADES

RECENT DOWNGRADES

RECENT INITIATION

CHINA SHENSHAN ORCHARD HLDGS (BKV.SI)
- An Undervalued Chinese Kiwifruit Producer

05/09: SAC Capital - BUY

CIVMEC LIMITED (P9D.SI)
- Underappreciated Defence Play

05/06: Maybank Research - BUY

AEM HOLDINGS LTD (AWX.SI)
- Strong & Sustained Rebound In Orders To Drive Share Price Gains

04/29: UOB Kay Hian - BUY

CHOO CHIANG HOLDINGS LTD. (42E.SI)
- Market Leader Set To Benefit From Strong Growth In The Construction Sector

04/28: UOB Kay Hian - BUY

Market Outlook /

Strategy /

Top Stock Picks

Singapore Stock Alpha Picks May 2022

Add AEM, Keppel, SingPost; Remove Aztech, Bumitama, Civmec, FLCT, Semb Marine

- UOB Kay Hian 05/04

Keppel & Sembcorp Marine To Merge

Announcement Of The Long-Awaited Merger

- UOB Kay Hian 04/28

Phillip 2Q22 Singapore Strategy

A Stagflation Shelter

- Phillip Securities 04/05

Singapore Stock Alpha Picks April 2022

Add mm2 Asia, SIA Engineering, Venture Corp; Remove BRC Asia, Yangzijiang

- UOB Kay Hian 04/04

INDUSTRY SECTOR RESEARCH REPORTS

Banking & Financial
Sector

1Q22 Results Wrap
Maybank Research 04/29

Manufacturing
Sector

The Bottom Is Near; Upgrade To Market Weight As Reward-to-risk Appears Balanced
UOB Kay Hian 03/18

Offshore/ Marine/ Shipyards
Sector

Industry Fundamentals Continue To Firm Up
UOB Kay Hian 03/14

Plantation
Sector

Back With A Bigger Ban(g)
Maybank Research 04/28

REIT
Sector

Implications Of Yield Curve Inversion On S-REITs
UOB Kay Hian 04/05

Telecommunication
Sector

Postpaid Uplift To Drive Service Revenue For 2022
UOB Kay Hian 03/09

Transportation
Sector

A Potentially Steeper-Than-Expected Recovery Trajectory
UOB Kay Hian 04/25

05/17 OUE COMMERCIAL REIT (TS0U.SI)	OIR
05/09 CAPITALAND INTEGRATED COMM TR (C38U.SI)	PSR
05/09 LENDLEASE GLOBAL COMMERCIAL REIT (JYEU.SI)	PSR
05/03 VENTURE CORPORATION LIMITED (V03.SI)	PSR
05/03 STARHUB LTD (CC3.SI)	PSR
05/03 FORTRESS MINERALS LIMITED (OAJ.SI)	PSR
05/03 CDL HOSPITALITY TRUSTS (J85.SI)	MBKE
04/29 OVERSEA-CHINESE BANKING CORP (O39.SI)	MBKE
04/21 KEPPEL REIT (K71U.SI)	MBKE
03/31 JAPFA LTD. (UD2.SI)	CIMB