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Posts Tagged ‘dbs vickers’

DBS Vickers raises Olamâ€™s target to $3.70

January 28th, 2011 | No Comments

DBS Vickers raises Olam International’s (O32.SG) target to $3.70 from $3.60, and reiterates its Buy call on the back of higher commodity prices and expected earnings from recent acquisitions.

“We reiterate our Buy call on the stock for 19% upside to our revised target price. With earnings growth momentum intact from acquisitions, and diversified portfolio and geographic locations, we believe Olam remains undervalued. Strong 2Q11 and 3Q11 earnings should provide catalysts for share price appreciation,” DBS Vickers says.

Olam is down 0.6% at $3.09.

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Phillip ups target price for Cosco Corp to $2.68

January 21st, 2011 | No Comments

Phillip Securities has raised its target price for Singapore-listed shipbuilder Cosco Corp (COSC.SI) to $2.68 from $2.32 and maintained its “buy” rating.

According to DBS Vickers, Cosco Corp could benefit from the restructuring of its parent Cosco Group, which may inject two of its shipbuilding assets into the Singapore-listed unit.

Cosco Corp up on possible stakes injection

January 19th, 2011 | No Comments

Shares of Cosco Corp (COSC.SI), a Singapore-listed Chinese shipbuilder, rose as much as 4.7% on Wednesday after DBS Vickers said the firm stands to benefit from the potential injection of shipbuilding stakes by its parent.

DBS Vickers raised its target price on Cosco Corp to $3.03 from $2.76 and maintained its “buy” rating. At 9:14 a.m., Cosco Corp shares were up 4.3% at $2.41 on a volume of 18.6 million shares.

Singapore property market to moderate more in 2011 – DBSV

January 18th, 2011 | No Comments

DBS Vickers says activity in Singapore’s property market is expected to fizzle out after Friday’s policy measures. “The recent round of cooling measures…including a sharp hike in Sellers’ Stamp Duty and a lower loan to value ratio, are likely to dampen market transactions over the next few months as buying confidence and longer holding period force buyers to re-evaluate their purchasing decisions.”

Amtek Engineering started at Buy by DBS Vickers; $1.65 target

January 11th, 2011 | No Comments

DBS Vickers initiates Amtek Engineering (M1P.SG) with a Buy call, and a target of $1.65, which offers 27% upside plus 5.0%-6.0% dividend yield.

It says “Amtek is a pioneering metal stamper founded in Singapore in 1970. After a private equity buyout in 2007, management quickly re-organised the business to move it further up the value chain and to improve the cross selling of higher value added products and services to existing and new customers.”

Amtek up on DBSâ€™ â€œbuyâ€ initiation

January 11th, 2011 | No Comments

Shares of Amtek Engineering (AMEL.SI), a Singapore-listed manufacturer of precision metal, plastic and rubber components, rose as much as 3.9% after DBS Vickers initiated coverage on the firm with a “buy” call and a $1.65 target price.

At 0311 GMT, Amtek shares were up 2.3% at $1.32 on a volume of 3.5 million shares.

Singaporeâ€™s rig builders lower but 2011 looks rosy – DBSV

January 5th, 2011 | No Comments

Singapore’s rig builders are mostly lower with Keppel (BN4.SG) off 0.9% at $11.30, SembCorp Marine (S51.SG) down 1.1% at $5.28, while SembCorp Industries (U96.SG) is flat at $5.20.

Today’s underperformance could in part be down to oil prices tumbling below US$90/bbl ($116.2) Tuesday, settling 2.4% lower at US$89.38/bbl on Nymex; DBS Vickers says these offshore yards “offer the highest correlation to oil prices, spurred by the fleet renewal cycle, and rise in exploration and production spending.”

SembMarine target lifted to $6.08 by DBS Vickers

December 22nd, 2010 | No Comments

DBS Vickers keeps Sembcorp Marine (S51.SG) at Buy and raises the target price to $6.08 from $5.48 to factor in the rig-builder’s latest US$400 million ($525 million) contract win in its valuations.

SembMarine target raised to $6.08 by DBS Vickers

December 21st, 2010 | No Comments

DBS Vickers raises SembCorp Marine (S51.SG) target price to $6.08 from $5.48 and keeps Buy rating.

The house says since October, SembMarine has secured US$1.6 billion ($2.1 billion) in orders, reversing its orderbook decline, with orders at about US$5 billion currently from US$4.3 billion a quarter ago.

“Order momentum is gaining traction with SMM seeing a high level of enquiries for newbuild jackups and floaters, as well as production units, and not forgetting its outstanding options for seven newbuild jackups worth about US$1.4 billion.”

SembCorp target raised to $5.70 from $5.20 by DBS Vickers

December 21st, 2010 | No Comments

DBS Vickers raises SembCorp Industries (U96.SG) target price to $5.70 from $5.20 as the “core utilities and marine divisions are both revving up.”

The house says utilities are poised for more growth next year and beyond: “Apart from the first full year contribution from Cascal, which adds some 6% to utilities earnings, other new drivers include SembGas expansion by 26% (2011-12), and Salalah (Phase one in 3Q11; full completion in 2H12).”

Be selective in Singapore property for 2011: DBS Vickers

December 20th, 2010 | No Comments

DBS Vickers advocates a “selective stockpicking stance” in Singapore’s property sector in 2011; it says the sector is trading at mid-cycle valuations and stock performances “will continue to be led by volatile macroeconomic news flow.”

It adds, the office sector has ongoing re-rating catalysts, supported by the office upcycle and further details on the M+S JV (60% owned by Malaysia, 40% held by Temasek).

DBSV upgrades Pacific Andes to Buy from Hold

December 20th, 2010 | No Comments

DBS Vickers upgrades Pacific Andes Resources (P11.SG) to Buy from Hold and raises its target price to $0.48 from $0.37 on news its subsidiary China Fishery (B0Z.SG) is seeking a dual-listing in Hong Kong by offering up to 200 million new shares.

“With the potential funds raised of (about) U$350 million, we believe CFG could be aggressively looking for acquisition of more quotas/fishing companies.”

DBS Vickers ups Yangzijiang target 9.2% to $2.60

December 16th, 2010 | No Comments

DBS Vickers raises Yangzijiang’s (BS6.SG) target price to $2.60 from $2.38 after rolling over its valuation to blended 2011-2012 earnings and increasing 2011-12 earnings forecasts by 4% and 14% respectively in anticipation of increased orders.

Cosco target raised by DBS Vickers to $2.76 vs $2.35

December 16th, 2010 | No Comments

DBS Vickers lifts its target price for Cosco (F83.SG) to $2.76 from $2.35 after rolling forward its valuation to blended 2011-2012 earnings to align with its Singapore peers.

Keeps its Buy call and upgrades 2011 and 2012 earnings forecasts by 2% and 17% respectively to assume increased orders.

Xinren started at Buy by DBS Vickers; Well positioned in China

December 16th, 2010 | No Comments

DBS Vickers initiates Xinren Aluminium (MN5.SG) at Buy with a $0.70 target.

Says the company is well positioned in the Chinese aluminum industry as an integrated manufacturer with 275,000 tons smelting capacity and 50,000 tons fabrication capacity.

Conscience Food up on DBSâ€™ â€˜buyâ€™ initiation

December 10th, 2010 | No Comments

Shares of Singapore-listed Conscience Food <CSHL.SI>, a manufacturer and seller of instant and snack noodles in Indonesia, rose as much as 8% on Friday after DBS Vickers initiated a “buy” on the firm with a target price of $0.38.

At 10:16 a.m., Conscience Food shares were up 6% at $0.265 on a volume of 25.7 million shares.

Consciencefood started at Buy by DBS, $0.38 target

December 9th, 2010 | No Comments

DBS Vickers starts Consciencefood Holding (L1D.SG) at Buy with a $0.38 target based on 7x FY11 P/E.

Says the immediate growth driver for the Indonesia-based instant noodles maker is its expansion into cup noodle production in FY11.

Genting companies up on DBS Vickers report

December 3rd, 2010 | No Comments

Shares of casino operators Genting Singapore <GENS.SI> and Genting Hong Kong <GENH.SI> rose on Friday after DBS Vickers said the Singapore gaming sector is poised for strong growth on the back of junkets and entry into new markets.

Genting Singapore shares rose as much as 2.5% and Genting HK gained as much as 3.6%.

Boustead Singapore cut to Hold by DBS Vickers

December 2nd, 2010 | No Comments

DBS Vickers downgrades Boustead Singapore (F9D.SG) to Hold from Buy, trims target price to $1.00 from $1.10, which translates to 9.6x FY12 P/E.

Changes reflect sluggish pace of contract wins, with $100 million worth of orders secured in current FY vs house’s $400 million forecast.

Says while enquiries on engineering group’s services “still very robust”, potential clients slow to conclude negotiations.

DBSV Downgrades Asiatravel.com to Hold vs Buy

November 30th, 2010 | No Comments

DBS Vickers downgrades Asiatravel.com (5AM.SG) to Hold from Buy, cuts target $0.40 from $0.63 after group “plunged” into red in 4Q.

Notes, higher operating expenses incurred to start up new products contributed to the poor performance, while low utilization of shuttle bus fleet, increased promotional activities added to the cost burden.