Credit Suisse says it likes Genting Singapore (G13.SG) as a high beta and liquid proxy for the Singapore tourism sector. Cites “burgeoning tourist arrivals (projects 16% growth for 2011), positive GDP growth for Singapore and neighbouring Asian economies in 2011-12E and an active stock market.”
Posts Tagged ‘reiterates’
Kim Eng reiterates CapitaMall Trust at Buy
January 21st, 2011 |
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Kim Eng reiterates CapitaMall Trust (C38U.SG) at a Buy with a DDMâ€derived target of US$2.32 ($3.00) after the REIT Thursday declared a FY10 DPU of 9.24 Singapore cents on the back of 5.9% on-year growth in net property income.
“With forward yields of at least 5.2% and rising, CMT could be an alternative inflation hedge,” the house says. It adds, like CapitaCommercial Trust (C61U.SG), CMT has a high cash position of US$712 million ($916.8 million).
Singtel raised to $3.67 by Goldman Sachs, reiterates Buy
November 24th, 2010 |
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Goldman Sachs raises SingTel’s (Z74.SG) target price to $3.67 from $3.53 for 18% potential return, after it upgrades associate Bharti Airtel (532454.BY) to Buy, ups its target by 25% to INR430.
Also revises SingTel’s EPS estimates for FY11, FY12, FY13 by minus 1.5%, +2.4%, +2.9%. Notes “with SingTel effectively holding 32% of Bharti’s shares, our Bharti upgrade is material to the company’s valuation.”
Adds, Bharti upgrade due to changes in regulatory environment in India, which will favor market leader.
Notes on revised SOTP, SingTel’s investment in Bharti worth $0.94/share, accounts for 26% of valuation, India/Africa now emerges as 2nd largest component of SingTel’s home market valuation.
Adds, key risks include re-farming of India’s 900 Mhz spectrum, creating greater competition for Bharti, also pay TV growth which struggling to gain traction, high content cost of BPL which hurting Singapore profitability.
Shares last +0.3% at $3.08.
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Credit Suisse reiterates Singapore rig builders at Outperform
November 18th, 2010 |
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Credit Suisse keeps Singapore offshore & marine sector at Overweight, notes order momentum for rigs strengthened with contracts, letters of intent for 12 jackup rigs placed for 4Q.
“We believe that the cyclical recovery in the jackup market could continue going forward as: 1) returns on jackups of 12.3% for recent contracts remain significantly ahead of long-term average returns of 10.9%. 2) financing costs have come down to 5%-6%, and 3) utilisation rates remain close to 100% for high-spec jackups.”
Obama Reiterates Support for Network Neutrality
February 1st, 2010 |
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President Obama says in a crowdsourced YouTube interview that he remains committed to an open Internet and network neutrality.
– President Obama used a YouTube appearance Feb. 1 to again state his support
for network neutrality. Following Obama’s Jan. 27 State of the Union address,
YouTube collected questions and votes on questions for five days. The
crowdsourced interview was the first given by the president since his spe…
Minister reiterates opposition to Kosovo vote
November 10th, 2009 |
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There are no conditions for Serbs to take part in the local elections in Kosovo on November 15, Minister for Kosovo Goran Bogdanović told B92. Bogdanović said that these would be the first elections organized against UNSC Resolution 1244.
Belgrade reiterates Kosovo vote stance
October 17th, 2009 |
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Minister for Kosovo Goran Bogdanović says that the conditions for Serbs in Kosovo to participate in the forthcoming elections “do not exist”. Local elections have been called in the province for November 15.
Ellison Reiterates Importance of Sun’s IP in OpenWorld Opener
October 12th, 2009 |
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Oracle and Sun kick off their first joint Oracle OpenWorld conference by announcing an intriguing new flash-based storage system and re-identifying The Giant — as Oracle founder Larry Ellison referred to IBM — as its key market target.
– SAN FRANCISCO Oracle and Sun Microsystems, nervously awaiting the blessing of the European Commission to become one company by the end of the year, kicked off their first joint Oracle OpenWorld conference here at the Moscone Center Oct. 11 by announcing an intriguing new flash-based storage system a…