
Phillip Securities has started coverage of Wee Hur Holdings (E3B.SG) with a “buy” with $0.66 target price, based on historical 11xP/E and expected EPS of $0.06 for 2010, according to Dow Jones Newswires.
The broker says construction, property development group’s current $238.6 million orderbook will drive earnings until 2013 and expects more contracts this year, potentially boosting orderbook to $400 million.
DBS Vickers has started coverage of CapitaMalls Asia (JS8.SG) at “buy” with $2.51 target price, based on 1.1x NAV estimate, reported Dow Jones Newswires.
Says mall operator’s appeal lies in its pan-Asian exposure to stable, resilient retail asset class, “with a scalable model that spans the entire value chain”.
CLSA has initiated Raffles Medical Group (R01.SG) a “buy” with a $1.70 target price, according to Dow Jones Newswires.
CLSA says patient numbers set to grow on back of revival of medical tourism demand, shortage of beds in public hospitals.
DBS Vickers has started coverage of Tiger Airways (J7X.SG) at “buy” with $2.10 target price.
The broker says budget carrier turned around convincingly in fiscal 3Q10 ended December, with operating margin of 17%, load factor at almost 88%.
