Image result for buy sell hold

CGS CIMB

 OCBC

Manulife US REIT

Staying resilient

 

■ MUST’s 1H20 DPU of 3.05 UScts, in line, at 49.8% of our FY20F forecast.

■ MUST enjoyed stable portfolio occupancy in 1H20 and expects to benefit from interest cost savings from debt refinancing starting 2H20.

■ Reiterate Add with an unchanged DDM-based TP of US$1.05.

 

Read More ...

 

 

 

Sheng Siong Group (SSG SP) - A strong quarter; declares higher DPS

Sheng Siong Group’s (SSG) 2Q20 result was above our estimates due to stronger-than-expected sales.  2Q20 revenue rose 75.8% YoY to S$418.7m, while PATMI surged 150.4% YoY to S$46.1m, mainly attributable to elevated demand during the Circuit Breaker period as consumers loaded up on its products and goods. An interim dividend of 3.5 S cents per share was declared, as compared to 1.75 S cents per share in 2Q19. SSG opened 2 new stores in 1H 2020 and is expected to open 3 new stores in 2H 2020 in Singapore. With these additional stores, SSG’s total store count will increase to 66 (64 in Singapore and 2 in China). Looking ahead, we believe new stores growth will remain SSG’s key growth driver and strategy. We expect demand to taper off in 2H from the strong sales level in 2Q 2020, but demand should still remain healthy. We adjusted our FY20/FY21 earnings by +32%/13%, and our fair value increases from S$1.64 to S$1.85. With the sharp outperformance since March, and on valuation grounds, we are downgrading from Buy to HOLD.  

 OCBC

CGS CIMB

 

Singapore Airlines (SIA SP) - Outlook remains hazy

Singapore Airlines (SIA)’s 1QFY21 results were significantly below Bloomberg’s consensus and our forecasts. 1QFY21 revenue fell 79.3% YoY to S$851m, dragged by sharp drop in passenger traffic and flown revenue, partially offset by improvement in cargo flown revenue. PATMI reversed from a profit of S$200m in 1QFY20 to a record loss of S$1.1b in 1QFY21 on the back of weak global travel demand and liquidation cost for NokScoot (S$127m). All passenger airlines in the group took a heavy hit from Covid-19 with operating losses ranging from S$102m (SilkAir) to S$667m (SIA parent) in 1QFY21. SIA expects passenger capacity to reach less than 50% of its pre-Covid-19 levels by end of FY21 and sees international travel to take a longer-than-expected recovery trajectory. With a prolonged Covid-19, we believe that earnings visibility remains low in the near-tern and expect 2-3 years for recovery to pre-pandemic levels. After adjustments, our fair value estimate decreases from S$4.00 to S$3.50. HOLD

 

AEM Holdings Ltd

AEM ups FY20F revenue guidance again

 

■ AEM’s 1H20 net profit was above our expectation at 64% of our full-year forecast.

■ The company has raised FY20F revenue guidance again to S$460m-480m versus its May guidance of S$430m-445m.

■ We reiterate our Add call with a higher TP as we factor in the new guidance

 

Read More ...


LionelLim8.16Check out our compilation of Target Prices




Share Prices

Counter NameLastChange
AEM Holdings3.710-0.140
AusGroup0.020-0.001
Avi-Tech Electronics0.425-0.005
Best World Int.1.360-
CEI0.910-
China Sunsine0.340-
CNMC GoldMine0.2750.010
CSE Global0.465-
Food Empire0.6000.010
Golden Energy0.1650.015
GSS Energy0.051-0.002
ISDN Holdings0.375-0.010
ISOTeam0.149-0.001
IX Biopharma0.2350.010
JB Foods0.575-
KSH Holdings0.3300.010
Medtecs Intl1.1100.030
Moya Asia0.063-
Nordic Group0.205-
Oxley Holdings0.2200.005
Procurri0.315-
REX International0.1430.002
Riverstone3.6500.160
Roxy-Pacific0.325-
Sing Holdings0.380-
SingMedical0.255-
Straco Corp.0.490-
Sunningdale Tech1.450-
Sunpower Group0.5350.005
The Trendlines0.087-
Tiong Seng0.140-
Uni-Asia Group0.420-
Yangzijiang Shipbldg0.9950.005

NextInsight RSS

rss_2 NextInsight - Latest News

Online Now

We have 410 guests and one member online

  • admin2