DBS Vickers has downgraded Straits Asia Resources (AJ1.SG) to “hold” from “buy”, citing lack of catalysts and rich valuations vs Indonesian peers. It has also cut the target price to $2.30 from $3.20 after reducing FY10-11 EPS estimates by 15%-17% to assume lower volume, higher operating costs, reported Dow Jones Newswires.
Posts Tagged ‘Vickers’
CapitaMalls Asia initiated a ‘buy’ by DBS Vickers
March 11th, 2010 |
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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”.
New Singapore property rules positive, says DBS Vickers
March 9th, 2010 |
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Changes to Singapore government’s property reserve list positive for developers as their upfront costs, cashflow burden will be eased, while competition for sites will be reduced, says DBS Vickers.
“This could lead to lower land prices for developers, although the impact will be marginal in a buoyant market.”
The broker expects measures to enhance flexibility in land sale system, increase affordability of private mass-market homes.
Raffles Medical Group raised to ‘buy’ by DBS Vickers
March 1st, 2010 |
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DBS Vickers has upgraded Raffles Medical Group (R01.SG) to “buy” from “hold”, raising its target price to $1.75 from $1.41, pegged at 20x FY10 P/E, after increasing FY10–11 earnings forecasts by 17–24%.
China Sports lowered to DBS Vickers to “holdâ€, cuts target by 40%
March 1st, 2010 |
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DBS Vickers has downgraded China Sports International (FQ8.SG) to “hold” from “buy” on concerns over sportswear retailer’s prospects.
The broker has cut its target price to $0.18 from $0.30 after lowering FY10–11 earnings forecasts by 25–22% to assume reduced revenue, margins as “we believe competition in the sportswear market in China will remain quite intensive after a few more players got their equity funding from Hong Kong last year.”
Says net cash position of $0.22/share as at end-December may fall to $0.15/share as company preparing for capex to ramp up its franchise in China for products of world soccer body Fifa.
Shares last gained 3.2% to $0.16.
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China XLX Fertiliser upgraded to ‘hold’ by DBS Vickers
February 24th, 2010 |
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DBS Vickers has upgraded China XLX Fertiliser (B9R.SG) to “hold” vs “fully-valued”, raising its target price to 54 cents from 45 cents, based on 12x FY10 P/E and after increasing FY10–11 earnings forecasts by 20–8%.
The broker notes that while FY09 earnings of CNY119 million ($24.6 million) is down 64%, the results are above consensus expectations.
Cosco target price raised to $1 by DBS Vickers
February 23rd, 2010 |
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DBS Vickers has raised Cosco (F83.SG) target price to $1 from 78 cents after increasing FY10-11 earnings estimates by 21–24% to assume higher margins for shipbuilding business, improvement in execution.
The broker says the worst over for shipbuilding with earnings poised to recover on lower steel, overhead, labour costs and increased operating efficiency.
Still, DBS Vickers is keeping its “fully valued” call on view that the stock is expensive at 20x FY10 earnings, saying, “We believe the market has overpriced the recovery expectation of the company.”
Shares off 2.3% at $1.25.
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Limited Rickmers Maritime payout visibility, says DBS Vickers
February 9th, 2010 |
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Visibility on Rickmers Maritime Trust’s (B1ZU.SG) future distribution payouts remains extremely limited as vessel owner’s debt problems look unlikely to be resolved any time soon, says DBS Vickers.
The broker cites significant near-term liquidity risk as Rickmers Maritime Trust has US$130 million ($185 million) loan due in April which company still struggling to refinance.
China Animal Healthcare’s price target cut to 33 cents by DBS Vickers
February 9th, 2010 |
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DBS Vickers has cut China Animal Healthcare’s (EP4.SG) target price to 33 cents from 40 cents, based on 12x FY10 P/E, after lowering earnings forecasts by 18% for FY10, and 7% for FY11 to factor in delay in production of vaccine for hand-foot-mouth disease.
The brokerage notes that the farm animal drugs maker expects to obtain production licence for vaccine by March, and accompanying product code for sales around mid-2010, meaning it won’t be able to take part in government’s February bidding exercise to award production licence and “will only be able to take part in the August 2010 bidding season.”
STI off 2%; panic mode emerging, says DBS Vickers
February 5th, 2010 |
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Caution remains in Singapore stock market as investors unsure what sovereign debt woes in Europe will ultimately lead to.
Uncertainty over the US employment situation is also keeping investors at bay, ahead of tonight’s January non-farm payrolls report.
As of the midday break, the STI is down 2% at 2,691.33, with all FTSE ST sub-indexes in red. Market breadth at 13 decliners for every gainer. Overall volume moderate at 1.11 billion shares but likely to exceed whole of yesterday’s 1.26 billion by end of day.
SPH upgraded to ‘buy’ by DBS Vickers, raises target price to $4.33
January 14th, 2010 |
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DBS Vickers has upgraded Singapore Press Holdings (T39.SG) to “buy” from “hold”, raising its target price to $4.33 from $4 to reflect stronger earnings potential on the view that advertising revenue will get boost from opening of Singapore’s two casino-resorts, improving employment conditions, and a pickup in residential property launches.
STI off 0.3%; temporary top building up, says DBS Vickers
January 4th, 2010 |
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Singapore’s blue chips were mostly lower as investors take some money off table after chasing prices to 17-month highs last week, but stocks in broader market fare better as players zoom in on smaller-cap issues.
The STI, off 0.3% at 2,889.28 in mid-day, is expected to hold above 2,850 (last closed below this level on Dec 24, 2009).
DBS Vickers upgrades Sim Lian to buy with 53 cents price target
December 10th, 2009 |
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DBS Vickers upgrades Sim Lian Group (S05.SG) to “buy” from “hold”, raises target price to 53 cents from 49 cents, based on 35% discount to NAV estimate vs 40% discount previously.
The brokerage says the developer could benefit from expected pickup in collective sales activity in Singapore’s private residential market next year.
Wing Tai upgraded to ‘buy’ with price target of $2.05 by DBS Vickers
December 10th, 2009 |
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DBS Vickers has upgraded Wing Tai Holdings (W05.SG) to “buy” from “hold”, raising its target price to $2.05 from $1.83, based on 10% discount to NAV estimate vs 20% discount previously, on view developer will gain from expected pickup in Singapore’s high-end residential market.
“For the Week Ended Last Friday … Insiders Sold 6.31 Shares for Every One They Bought”
September 22nd, 2009 |
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Mark Hulbert notes:The message from the insiders is rather sobering: They are selling a whole lot more of their companies’ stock than they are buying. The net difference is even larger than it was two months ago, when I noted that insiders were already…