Nomura has upgraded Fraser & Neave (F99.SG) to “buy” from “reduce” on the back of higher valuations for the company’s property and food & beverage (F&B) assets and hiked the target price to $5.35 from $2.67 on updated sum-of-the-parts valuation.
Posts Tagged ‘nomura’
Fraser & Neave upgraded to ‘buy’ by Nomura with $5.35 price target
March 4th, 2010 |
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Hyflux gains 0.6%, but positives priced in, says Nomura
February 25th, 2010 |
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Hyflux (600.SG) has gained 0.6% at $3.62 but struggling to hold on to gains after pulling back from early high of $3.66 (+1.7%) on the back of record earnings in FY09.
“Strengths are priced in and valuations are at par with peers, while we await more catalysts to trigger further growth,” says Nomura, which has a “neutral” call with $3.70 target.
Hyflux posted a rise in net profit of 27% to $75 million on higher contributions from operations in Middle East, North Africa.
Genting Singapore’s price target cut by 11.7% to 68 cents by Nomura
February 25th, 2010 |
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Nomura has cut Genting Singapore (G13.SG) target price to 68 cents from 77 cents on the back of lower assumed contributions from UK casinos business after a weak 4Q09 performance.
The broking and research house is maintaining its “reduce” rating, saying expectations for the size of Singapore’s gaming market is over-optimistic with consensus earnings estimates too high and valuation still stretched.
DBS price target raised to $15.30 by Nomura; keeps ‘neutral’
February 18th, 2010 |
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Nomura has raised DBS (D05.SG) target price to $15.30 from $12.70 on back of earnings upgrades while maintaining its “neutral” rating.
It is also raising DBS’s FY10, FY11 earnings forecasts by 14.9%, 17.5%, respectively, to reflect increased expectations for Singapore’s FY10 GDP growth, earnings support from rising interest rates and falling credit costs.
CapitaMall Trust’s target price raised to $1.43 by Nomura
February 17th, 2010 |
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Nomura has raised CapitaMall Trust (C38U.SG) target price to $1.43 from $1.28 to reflect more bullish valuations for retail assets; but maintains “Reduce” call.
The broker notes retail REIT’s valuers appeared more upbeat on asset values and capitalisation rates when valuing the trust’s retail portfolio following its recent 4Q09 results.
M1 has most to gain from Singapore casinos, says Nomura
February 10th, 2010 |
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MobileOne (B2F.SG) has most to gain among Singapore telcos from expected stronger demand for telecom services once the city-state’s two casino-resorts open for business, says Nomura.
“This, we believe, bodes well for roaming revenues of telecom carriers” as mobile roaming business currently accounts for 10–20% of all three telcos’ total revenues, with margins at about 75%. “There will also be a likely increase in pre-paid activity from temporary SIM (card) usage,” it added.
Singapore Industrial REIT price targets lifted by Nomura
February 9th, 2010 |
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Nomura raises target prices for Singapore industrial and business space REITs on higher property valuation assumptions.
“Recent valuations by real estate valuers have indicated an emerging consensus of asset price stability; while we see downside risks to current valuations amid higher industrial supply and a weak reversionary outlook, our assumptions have been too conservative,” it says.
Biosensors gains after Nomura lifts share est on sales outlook
February 1st, 2010 |
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Biosensors International Group rose after Nomura Holdings Inc. raised its share-price forecast by 12% to $1.23, saying the sales outlook for the company’s drug-coated stents used to treat blocked arteries is strong.
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Genting Singapore rated ‘reduce’ in new coverage at Nomura
January 28th, 2010 |
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Genting Singapore Plc was rated “reduce” in a new coverage by Nomura Holdings Inc., saying current expectations for its resort casino in the city-state are “unrealistic.”
The brokerage said it estimates annual revenue at Genting’s Resorts World Sentosa to be around US$1 billion ($1.4 billion), compared to consensus estimates of more than US$2 billion by 2011.
Marina Bay Financial Centre signs Nomura as tenant
January 25th, 2010 |
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Hongkong Land Holdings says Nomura Singapore has signed a 12-year lease for 102,000 sqft of space in the Marina Bay Financial Centre (MBFC), the group’s joint venture development in Singapore. Nomura will occupy levels 34 to 37 of Tower Two, beginning in 2011.
The Japanese group joins a list of major financial institutions and corporations, including Standard Chartered Bank, DBS Group, BHP Billiton and Macquarie Group. MBFC is being developed by a consortium comprising Hongkong Land, Cheung Kong (Holdings) Ltd / Hutchison Whampoa and Keppel Land.
MobileOne may edge up as 4Q beat forecasts, says Nomura
January 20th, 2010 |
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MobileOne (B2F.SG) may edge up on solid 4Q09 results, though some uncertainty on outlook may cap upside.
The telco reported that 4Q09 net profit gained 4.5% on-year to $37.5 million on higher revenue, lower tax payment, exceptional gain from interest rate swap. Revenue rose 11.1% on-year to $216.2 million.
Wilmar, Noble top commodity picks for Nomura
December 11th, 2009 |
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Singapore’s agricultural commodity plays have enjoyed a stellar run this year but investors may need to be more choosy next year, says Nomura.
“We may not see a repeat of the all-inclusive outperformance over the next year, and hence would advise investors to be stock specific in their approach,” says Nomura.
The brokerage says Wilmar International looks like a good bet for its franchise model, leadership in existing businesses and strong earnings support.