buy sell hold  



Del Monte Pacific Limited – Turnaround underway


  • US subsidiary Del Monte Foods Inc. (DMFI) turned profitable in FY21. It had been suffering losses since the acquisition in 2014. Loss-making factories were closed, low margin products exited, new products introduced and more distribution channels were established.
  • Del Monte Philippines Inc. (DMPI) enjoys dominant market shares as high as 90% in the Philippines. Growth is expected from a new dairy product line, expanding distribution points and exports of fresh pineapples into China.
  • Initiate coverage with BUY and TP of S$0.60. DMPL is currently trading at 8.2x FY22e, below the industry average of 16x. We apply a 20% discount to industry valuation due to comparatively higher leverage. Stock catalysts expected from turnaround of DMFI and stable growth of DMPI in the Philippines. We peg DMPL to 13x FY22e P/E.


Read More ...


Suntec REIT

Gaining further traction


■ Suntec REIT’s (SUN) 3Q21 DPU of 2.232 Scts was broadly within expectations, at 26.6% of our FY21F forecast.

■ Office and retail segments delivered better performance in 3Q21.

■ Reiterate Add, with an unchanged DCF-based TP of S$1.79


Read More ...



CapitaLand Integrated Commercial Trust (CICT SP)

3Q21: Good Things Come To Those Who Wait For The Reopening


CICT’s retail portfolio achieved stable occupancy of 96.4% but its office portfolio suffered transitory vacancies at AST2 and CapitaGreen. Vaccinated employees are allowed to work from their office starting 1 Jan 22, leading to an improved physical occupancy for CICT’s office buildings and bringing relief to its downtown malls. CICT would benefit as the recovery broadens to offices and downtown malls in 2022. 2022 distribution yield is 5.3%. Maintain BUY. Target price: S$2.39.


Read More ...

CapitaLand Integrated Commercial

A subdued quarter


■ CICT’s 3Q21 gross revenue/NPI were within expectations, at 24.5%/25% of our FY21F forecasts.

■ Asset enhancement plans for Raffles City Singapore are in the works.

■ Reiterate Add, with an unchanged DDM-based TP of S$2.56


Read More ...

LionelLim8.16Check out our compilation of Target Prices

Share Prices

Counter NameLastChange
AEM Holdings3.8100.010
Avi-Tech Electronics0.280-
Best World1.780-0.010
Broadway Ind0.120-
China Sunsine0.400-0.005
Food Empire0.640-
Fortress Minerals0.375-
Geo Energy Res0.3550.005
Golden Energy0.790-
GSS Energy0.048-0.001
ISDN Holdings0.400-0.005
IX Biopharma0.125-0.002
Jiutian Chemical0.0810.001
KSH Holdings0.345-0.005
Leader Env0.056-
Medtecs Intl0.138-
Meta Health0.025-
Nordic Group0.475-
Oxley Holdings0.151-
REX International0.230-0.005
Sinostar PEC0.195-
Southern Alliance Mining0.410-0.090
Straco Corp.0.395-
Sunpower Group0.2750.005
The Trendlines0.093-
Totm Technologies0.101-0.001
UG Healthcare0.194-
Uni-Asia Group0.810-
Wilmar Intl4.060-0.030
Yangzijiang Shipbldg1.380-0.020

NextInsight RSS

rss_2 NextInsight - Latest News

Online Now

We have 987 guests and no members online