On the stock ratings front, BNP initiates Otto Marine with Reduce call & TP of $0.34. Goldman Sachs upgrades DBS to Buy with TP raised to $16.90 from $15.60 but downgrades OCBC & UOB to Neutral, cutting TP to $9.80 (prev: $10.40) & $20.80 (prev: $22.70) respectively. Meantime, Daiwa upgrades StarHub to Outperform raising TP to $2.65 from $2.17 while RBS also upgrades Ascendas Reit to Buy, lifting TP to $2.55 from $2.00.
Stanchart initiates Osim as an Outperform with TP of $1.45.
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