OSK has downgraded Golden Agri-Resources (E5H.SG) to Neutral from Trading Buy, citing uncertainty stemming from Greenpeace’s allegations of plantation group engaging in environmentally harmful practices, giving false information to investors, says Dow Jones.
Posts Tagged ‘cut’
ASL Marine cut to Sell from Hold by UOB KayHian
August 19th, 2010 |
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UOB KayHian has downgraded ASL Marine (A04.SG) to Sell from Hold, cuts target price to $0.84 vs $1.07 after lowering FY11-FY12 earnings estimates by 15%-35% on fewer contracts, lower margins assumption, according to Dow Jones.
UOB KayHian says provider of ship building, chartering services not out of woods as visibility for new building contracts remains murky, although repair, chartering segments appear to have bottomed out.
Indofood Agri cut to $2.81 vs $3.06 by UBS
August 18th, 2010 |
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UBS cuts Indofood Agri Resources (5JS.SG) target price to $2.81 from $3.06 after reducing FY10-FY11 EPS estimates by 20%-15% to assume lower yields, says Dow Jones.
UBS notes, heavy rainfall disrupted harvesting activity, resulting in weaker yields, results for 2Q10. But keeps Buy call on view plantation group offers best exposure to volume-drive growth in sector as it has large chunk of planted area yet to mature.
Research house adds, new sugar business will start contributing to group earnings soon: “We think Indofood Agri could start to reap the rewards of its investment in 4Q10 as it would by then have completed an 8,000 tonne per day sugar refinery at the estate.”
Shares +0.4% at $2.33.
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Hong Leong Asia target cut to $3.25 by DBS Vickers
August 17th, 2010 |
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DBS Vickers downgrades Hong Leong Asia (H22.SG) to Fully Valued from Hold, cuts target price to $3.25 from $4.54 on “dampening sales caused by credit tightening”, downward ratings to most sectors group operates in, reports Dow Jones.
DBS Vickers notes Xinfei unit earnings growth was “a disappointment”, compares poorly with sector sales volume growth.
Cambridge Industrial cut to Outperform by CLSA
August 16th, 2010 |
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CLSA downgrades Cambridge Industrial Trust (J91U.SG) to Outperform from Buy on reduced upside to its $0.54 target price, says Dow Jones.
CLSA trims FY10-12 DPU estimates by 2%-3% to reflect dilution due to enlarged unit base following recent private placement to help fund S$37.1 million acquisition of 2 industrial properties in Singapore.
Research house notes CIT plans to retire $32 million of debt this month, bringing gearing to 39.5% from 41.5%; “our key concern is further equity dilutive acquisitions.” REIT off 1.0% at $0.505.
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First Resources cut to Hold by DBS Vickers; $1.28 target
August 16th, 2010 |
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DBS Vickers downgrades First Resources (EB5.SG) to Hold from Buy on limited upside to target price, which house lowers to $1.28 vs $1.35, says Dow Jones.
Target change follows 10.5% reduction in fresh fruit bunch volume estimates for both FY10-11 to reflect lower-than-expected output in 1H10.
“We believe any further strength should provide an opportunity to take profit, as we believe the forthcoming seasonal palm oil volume recovery in 4Q10 should ease current CPO price strength,” says DBS Vickers.
Shares off 3.4% at $1.13.
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Asiatravel.com cut to Hold by Kim Eng; Target $0.53
August 16th, 2010 |
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Kim Eng Securities cuts Asiatravel.com Holdings (5AM.SG) to Hold from Buy, new target price lowered to $0.53 from $0.62, after online ticketing company reports 56% fall in 3Q net profit, missing expectations, on higher start-up costs, says Dow Jones.
Kim Eng points to slower revenue recovery in 3Q from key markets such as Thailand, Dubai.
Wilmar target cut to $8.20 from $9.00 by JPMorgan
August 16th, 2010 |
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JPMorgan cuts Wilmar International (F34.SG) target price to $8.20 from $9.00 after world’s largest palm oil trader reports unexpected 15% fall in 2Q net profit on weaker margins, negative convertible bonds revaluation, says Dow Jones.
“We have fine-tuned our margins assumptions across all business segments and as a result, reduced our net profit estimate for FY10E/FY11E by 14%/8.0%,” JPMorgan says in note; Maintains Overweight rating.
Wilmar last down 0.5% to $6.10; 30-STI down 0.7% at 2,918.33.
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STX Pan Ocean target cut to $13.90 by CIMB
August 13th, 2010 |
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CIMB cuts STX Pan Ocean (GZ9.SG) target price to $13.90 vs $15.60 after lowering FY10-12 earnings estimates by 53%-60% to assume weaker profitability on view operating costs will remain high, according to Dow Jones.
CIMB notes bunker, port, cargo costs +73% on year in 1H10. Keeps Neutral call: “STXPO may perversely benefit from the recent capesize collapse as it has more cargo commitments than available capesize capacity. The mid-2010 expiry of high-cost vessels chartered in before Lehman’s collapse should also help 2H earnings.”
Stock +2.1% at $13.88.
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Noble cut to Hold by DBS Vickers with $1.62 target
August 13th, 2010 |
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DBS Vickers downgrades Noble Group (N21.SG) to Hold from Buy, cuts target price to $1.62 from $2.00, after reducing FY10-11 EPS estimates by 23%-25% to reflect lower agriculture, energy contributions, plus higher selling, general and admin expenses, according to Dow Jones
DBS Vickers says 2Q10 results dismal, with earnings down 65% on year at US$86.6 million ($118 million): “While we believe the market has already priced in the poor results, there remains little catalyst for the stock in the near term.”
Shares off 1.9% at $1.56.
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Eat Pray Love Goes From Page to Screen via Final Cut Pro
August 12th, 2010 |
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Editor Bradley Buecker describes how he cut his first feature film, Eat Pray Love, using Final Cut Pro. To edit more than 70 hours of footage shot on location in New York, Italy, India, and Indonesia, Buecker found a fast, efficient editing format in ProRes 422 (Proxy), introduced in Final Cut Pro 7.
Golden Agri cut to Hold by Phillip Securities
August 12th, 2010 |
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Phillip Securities downgrades Golden Agri Resources (E5H.SG) to Hold from Buy, cuts target price to $0.61 vs $0.66 as broker revised earnings estimate down for FY2010 given its initial production estimates too optimistic, says Dow Jones.
Phillip lowers estimate of fresh fruit bunch, crude palm oil yields to 22.4 tonne/ha and 5.15 tonne/ha vs 23.1 ton/ha and 5.35 tonne/ha respectively, for FY2010. Yesterday, Golden Agri says 2Q net profit rose 19.9% to US$66.0 million ($90 million) on higher CPO prices and sales volume, FX gain, but was 25.4% lower on quarter due to increased operating costs arising from higher selling, wage costs.
Stock flat at $0.57.
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ComfortDelgro cut to Hold by Phillip Securities
August 12th, 2010 |
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Phillip Securities downgrades ComfortDelgro (C52.SG) to Hold From Buy as it sees limited upside to its target price of $1.73; estimates 2Q net profit at $46.4 million, but warns that bus ridership, which expected to have risen in first 6 months of year, may see some erosion given opening of Circle Line in July, according to Dow Jones.
“We are forecasting bus ridership to grow 1% for the whole year to 838 million trips from 830 million trips,” says the brokerage.
ComfortDelgro results due tomorrow after market close. Stock last down 2.5% at $1.54.
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Ausgroup cut to Underperform from Neutral by CIMB
August 11th, 2010 |
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CIMB downgrades Ausgroup (5GJ.SG) to Underperform from Neutral, cuts target to $0.47 vs $0.61 on 4Q loss guidance vs profit expected earlier after expected impairment charge for Singapore subsidiary Cactus Engineering, says Dow Jones.
CIMB also cuts FY10 reported profit forecast to A$8.4 million ($10.4 million) vs A$10.5 million, but excluding one-off loss maintains FY10, FY12 EPS estimates at $0.026, $0.067, respectively.
Noble Group cut to $2.00 vs $2.37 by DBS; Keeps Buy
August 11th, 2010 |
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DBS Research cuts Noble Group’s (N21.SG) target to $2.00 from $2.37 on lower agriculture margins, cuts FY10, FY11 EPS forecast by 18.2%, 17.7%, respectively, on margins, higher non-production related expenses, according to Dow Jones.
DBS adds soybean selling in Argentina has been slower-than-expected. But reiterates Buy call: “We believe current weakness is an opportunity to buy for an attractive 21% upside even at reduced earnings forecasts.”
Research house believes group has positive outlook with sale of Middlemount coal operations set to “unlock some cash for new investments in the next quarter.” Notes, possible recovery in sport soybean crushing margins also likely to be reflected in 3Q10, 4Q10 results.
Stock last down 1.2% at $1.63
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UOB cut to Hold from Buy by Phillip Securities
August 11th, 2010 |
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Phillip Securities downgrades UOB (U11.SG) to Hold from Buy, cuts target price to $20.12 vs $23.00 after broker moderates its expected premium on stock to 1.7x P/B vs 1.94x previously.
“Though earnings are largely within our expectations, and UOB financials are stronger than the two local banks, we are reducing the premium for UOB as we find the bank unable to perform exceedingly better than its peers to command this premium,” Phillip says.
Broker notes UOB yesterday reported 2Q10 net profit of $602 million, +27.9% on year, driven by lower bad debt charges rather than improvement in margins or non-interest income. Stock down 0.9% at $19.12.
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UOB target price cut to $22.70 by Goldman Sachs
August 11th, 2010 |
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Goldman Sachs cuts UOB (U11.SG) target price to $22.70 from $23.60 after revising down 2010-2012 earnings estimate by 3%-6% mainly due to weaker net-interest margin, says Dow Jones.
Goldman Sachs notes 2Q10 net interest margin down 11 bps on-quarter, falling most among other Singapore banks.
Sybase Replication Server Looks to Cut Latency
August 10th, 2010 |
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Sybase announced a new version of its Replication Server product Aug. 10 from its TechWave conference. Among its features is high volume adaptive replication technology that will slash the time it takes to replicate large data loads, Sybase said. – Sybase announced a new release of its database replication
product armed with functionality designed to reduce latency when moving data
between enterprises data stores.
In Replication Server 15.5, Sybase uses its high volume
adaptive replication technology to reduce the time it takes to replica…
Sybase Replication Server Looks to Cut Latency
August 10th, 2010 |
No Comments
Sybase announced a new version of its Replication Server product Aug. 10 from its TechWave conference. Among its features is high volume adaptive replication technology that will slash the time it takes to replicate large data loads, Sybase said. – Sybase announced a new release of its database replication
product armed with functionality designed to reduce latency when moving data
between enterprises data stores.
In Replication Server 15.5, Sybase uses its high volume
adaptive replication technology to reduce the time it takes to replica…