| CIMB | UOB KAYHIAN |
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SPH REIT Lessening drag from Paragon
■ 2Q and 1HFY18 DPU were within our FY18 projections. ■ Decelerating negative reversion at Paragon. ■ Significant debt headroom for inorganic growth opportunities. ■ Maintain Hold with unchanged TP of S$1.06.
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Y Ventures Group (YVEN SP) An Exciting Year In Store
2018 looks to be a promising year as initiatives in the past year are expected to bear fruit. We forecast a 3-year EPS CAGR of 35% but see possible upside to our 2019 estimate if AORA is successfully launched in 2H18. BUY with a target price of S$0.80, based on 2.6x 2019F P/S, at a 20% discount to peers. Potential catalysts include earnings acceleration in 2018, new consumer brands and accretive M&As.
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Check out our compilation of Target Prices
