Analysts Say

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

03/04 OIR - Higher Tides

03/01 DBSV - Supercycle Order Momentum

03/01 UOBKH - 2020 Strong Shipbuilding Margins The Highlight, More Order Wins To Come

02/26 CIMB - Orders Set To Reach 5-Year High In FY21

03/04 DBSV - The Star Duo – Straits Real Estate & ARA Asset Management

02/22 DBSV - Diving Into ARA’s Potential – The Sky Is The Limit

03/03 UOBKH - 2020 Earnings Beat Expectations; Positive Outlook For 2021; Raise Target Price By 17%

03/01 CIMB - A Bountiful Harvest; Prices Still Intact

03/02 PSR - Good Fight In A Tough Year

02/25 OIR - Look Beyond The Headline Figures

02/25 UOBKH - A Brighter Outlook In 2021 Despite Recording A Historic Loss In 2020

02/24 CIMB - Looking At A Better FY21

03/02 DBSV - To New All-time Highs

03/01 MBKE - FY20 Another Record Year

02/26 CIMB - Strong Balance Sheet For M&A Growth

03/02 UOBKH - 2020 Strong Finish; Positioned For Growth Across Multiple Avenues

03/01 CIMB - Inaugural Results Reassuring

03/02 OIR - New Year, New Hopes

03/01 UOBKH - 4Q20 Results In Line; Positioned For Growth For Current & Adjacent Domains

03/01 PSR - New Growth Drivers

03/01 MBKE - Steady Recovery

02/25 UOBKH - FY20 Results Preview & Potential Risks For 2021

03/02 PSR - Sun Is Coming Out Again

02/26 CIMB - Margin Resilience

02/26 UOBKH - 4Q20 Balance Sheet Well Positioned To Support Re-Opening & Recovery

02/26 OIR - More Upbeat On FY21 Outlook

02/25 DBSV - Growth Mode Turned On

02/25 MBKE - Steady Path. There Are Green Shoots, But Watch For Tail Risks

02/25 CIMB - NIM Stronger Than Peers’

03/01 UOBKH - 2020 Paying A Big Price For A Major Misstep In China

03/01 OIR - Kitchen Sinking End To FY20

03/01 UOBKH - 2020 Strong Earnings Beat; ASP Uptrend Continues In 1Q21; Target Price Cut To 9.6x P/E

02/26 CIMB - Another Strong Showing

02/26 DBSV - FY20 Earnings Beat Our Expectations On Higher Margins

03/01 PSR - 33% ROE, 6.8% Dividend Yield

02/26 UOBKH - 2020 Results Beat Our Estimates With Strong Momentum In 2021

02/25 CIMB - Ending The Year On A High Note

03/01 PSR - Emerging With Capital Strength

02/25 UOBKH - 4Q20 Quarterly Earnings Crossed The S$1b Mark

02/25 DBSV - Recovery In The Works

02/24 CIMB - A Careful Approach Going Into FY21

02/24 MBKE - On The Path To Recovery

02/24 CIMB - Reversal In NIM Compression

03/01 PSR - Recovering, Though Slower Than Expected

02/25 UOBKH - 2020 Earnings Missed Due To Impairments But Recovery Trend Intact; Maintain BUY

02/25 CIMB - In Recovery Mode

02/24 DBSV - Beneficiary Of Improving Consumption; COVID-19 Recovery Play

03/01 OIR - Better Performance Aided By Higher CPO Prices

02/26 CIMB - Stronger Downstream Margin Lifted 2H20 Profit

03/01 MBKE - FY21 Remains Promising Despite Uncertain Forward Sales Impact

03/01 UOBKH - 2H20 Results Below Expectations On Lower Production & Sales Volume

02/26 OIR - Waiting For Details On Portfolio Transformation

02/25 PSR - Energy Demand Improving

02/24 UOBKH - 2020 Results In Line With Good Potential For A Strong 2021

02/24 CIMB - Transforming Brown To Green

02/26 UOBKH - 2H20 Profitability Ramping Up From Increased Capacity

02/26 CIMB - Riding The Upturn

02/26 PSR - Convalescing

02/23 UOBKH - 2020 Above Expectations; Recovery In Local Patient Load

02/23 OIR - More Upbeat On Recovery Path

02/22 CIMB - FY20 In-line; Awaiting Foreign Patients

02/22 MBKE - Eyes Normalisation In FY21

02/26 OIR - Open To Inorganic Growth Opportunities

02/25 CIMB - Stable Performance

02/25 MBKE - Back To Normal

02/26 OIR - A Stellar Year

02/26 PSR - Demand Still Above Trend

02/25 CIMB - FY20 A Windfall Year. Still A Staple Pick

02/24 CIMB - Near-Term Outlook Remains Positive

02/24 UOBKH - 4Q20 Results Missed Expectations; ASPs To Remain Elevated

02/24 UOBKH - All Engines Are Ready To Charge Again In 2021

02/24 OIR - FY20 A Strong Year

02/24 CIMB - Searching For The Next Catalyst

02/23 CIMB - Special Dividends Make Up For Weaker 4Q

02/23 UOBKH - 2020 Strong Performance From All Segments

02/24 OIR - Moving Past The Darkest Days

02/22 CIMB - 4Q20 Cybersecurity Was The Star

02/22 MBKE - Mixed Bag

02/22 PSR - Cost-Control Saves The Day

02/24 UOBKH - 2020 A Bumpy Road To Recovery

02/24 OIR - Remain Cautious

02/24 CIMB - Continuing Losses But Proxy To Oil

02/23 UOBKH - 2020 Results Above Expectation

02/22 MBKE - Forward Sales Soured An Otherwise Excellent FY20 EPS

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

FIRST SHIP LEASE TRUST (D8DU.SI)
- Calmer Seas Ahead; Initiate Coverage With BUY

02/22: Phillip Securities - ACCUMULATE

Q & M DENTAL GROUP (S) LIMITED (QC7.SI)
- Record Earnings Expected; Initiate Coverage With BUY

02/08: Phillip Securities - BUY

STRAITS TRADING CO. LTD (S20.SI)
- Come Get The Crown Jewel; Initiate Coverage With BUY

02/04: DBS Research - BUY

GHY CULTURE&MEDIA HLDG CO LTD (XJB.SI)
- A Content Champion In The Making

01/19: UOB Kay Hian - BUY

Market Outlook /

Strategy /

Top Stock Picks

Singapore Stock Alpha Picks (Mar 2021)

Add Frencken & China Sunsine; Remove BRC Asia & First Resources

- UOB Kay Hian 03/05

Singapore Market Focus

Seasonal Support Ahead

- DBS Research 03/02

Singapore Market Feb 2021 Wrap Up

Singapore In 5

- CGS-CIMB 02/26

Singapore 2021 Budget

Looking Towards Recovery

- UOB Kay Hian 02/17

INDUSTRY SECTOR RESEARCH REPORTS

Banking & Financial
Sector

Positive Trends Emerging
UOB Kay Hian 02/26

Manufacturing
Sector

Off To A Good Start
Maybank Kim Eng 01/12

Offshore/ Marine/ Shipyards
Sector

Equilibrium Delayed
UOB Kay Hian 01/22

Plantation
Sector

India Now Reduces CPO’s Import Tax Advantage
Maybank Kim Eng 02/03

Property
Sector

Strong End To 2020
CGS-CIMB 01/15

REIT
Sector

Trending Towards A Full Recovery
CGS-CIMB 03/03

Telecommunication
Sector

Rational Competition As Earnings Are Expected To Recover In 2H21
UOB Kay Hian 01/26

Transportation
Sector

50% Jobs Support Scheme (JSS) Rebate Will Cushion Earnings & Cash Flow In 2021/2022
UOB Kay Hian 02/19

03/02 UNITED OVERSEAS BANK LTD (U11.SI)	PSR
03/01 OVERSEA-CHINESE BANKING CORP (O39.SI)	PSR
02/26 SHENG SIONG GROUP LTD (OV8.SI)	PSR
02/26 RAFFLES MEDICAL GROUP LTD (BSL.SI)	PSR
02/23 RAFFLES MEDICAL GROUP LTD (BSL.SI)	OIR
02/15 FAR EAST HOSPITALITY TRUST (Q5T.SI)	OIR
02/15 DBS GROUP HOLDINGS LTD (D05.SI)	PSR
02/11 SATS LTD. (S58.SI)	OIR
02/09 HUTCHISON PORT HOLDINGS TRUST (NS8U.SI)	OIR
02/01 SATS LTD. (S58.SI)	CIMB