buy sell hold  

CGS CIMB MAYBANK KIM ENG

 

Jiutian Chemical Group Ltd

Near-term outlook remains positive

 

■ Jiutian’s FY20 core net profit of Rmb155m was below our expectations (78% of our full-year forecast) mainly due to lower-than-expected GPM in 4Q20.

■ We remain positive as near-term ASP outlook remains strong. As of 18 Feb, DMF prices in Southern China stood at Rmb10,200 (+25% YTD, +82% yoy).

■ Maintain Add with a lower TP of S$0.135 (5.7x FY22F P/E).

 

Read More ...

 

 

 

OCBC Bank (OCBC SP)

On the path to recovery

 

Improving conditions, balance sheet can drive upside

OCBC’s 2020 PAT came in strongly ahead of Street/MKE driven by lower provisions, better NII and a tax write back. The operating environment is improving with momentum set to return to loan growth, while asset quality is better than expected. We believe OCBC stands to benefit from North Asian recovery as well as North-South trade flows. Its incoming CEO’s track record in China should also be complementary. Strong capital & provisioning buffers could provide upside surprise opportunities for write-backs, special dividends and/or higher payouts going forward, we believe. Maintain BUY with higher TP of SGD12.74.

 

Read More ...

CSG CIMB

CGS CIMB

OCBC

A careful approach going into FY21F

 

■ We think OCBC’s 4Q20 NIM expansion could be short-lived due to stiff pricing competition. It guides for NIM of 1.5-1.55% in FY21F (FY20: 1.61%)

■ It sees FY21F credit cost trending towards the lower end of its 100-130bp guidance, implying c.S$700m impairment expenses (vs. S$2.0bn in FY20).

■ Reiterate Add and GGM-based TP of S$12.52. Management’s optimism of a stronger recovery come 2H21F provides earnings upside from non-II growth.

 

Read More ...

 

 

CapitaLand

Looking at a better FY21F

 

■ FY20 net loss of 30.5 Scts/share was below our estimates but in line with market expectations.

■ Hoh recovery across its portfolio indicates a potentially better FY21F.

■ Maintain Add with an RNAV-based TP of S$3.42.

 

Read More ...



LionelLim8.16Check out our compilation of Target Prices



You may also be interested in:


You have no rights to post comments

Counter NameLastChange
AEM Holdings2.2700.130
Avi-Tech Electronics0.265-
Best World1.6800.050
Broadway Ind0.0990.012
China Sunsine0.4000.010
ComfortDelGro1.3700.020
Delfi Limited0.9700.005
Food Empire1.430-0.010
Fortress Minerals0.280-
Geo Energy Res0.325-0.005
GSS Energy0.026-0.001
Hong Leong Finance2.480-
Hongkong Land (USD)3.240-0.140
InnoTek0.445-0.005
ISDN Holdings0.315-0.005
ISOTeam0.035-
IX Biopharma0.045-
Jiutian Chemical0.0260.001
KSH Holdings0.250-
Leader Env0.050-0.001
Medtecs Intl0.131-0.001
Nordic Group0.3400.005
Oxley Holdings0.089-0.002
REX International0.1350.002
Riverstone0.7000.025
Sinostar PEC0.138-0.002
Southern Alliance Mining0.600-
Straco Corp.0.500-0.030
Sunpower Group0.230-
The Trendlines0.085-
Totm Technologies0.023-
Uni-Asia Group0.820-0.020
Wilmar Intl3.3500.030
Yangzijiang Shipbldg1.7800.030
 

We have 1471 guests and no members online

rss_2 NextInsight - Latest News