SG Strategy: CIMB has Strategy Report. Recommend to position for the bounce in its model portfolio. House have added beta stocks, Keppel Land and CapitaLand, to list of index top picks These joined recent additions, Wilmar (turnaround, beneficiary of vols) and SembCorpInd (cheaper proxy for O&M, and SembMar’s order catch-up)……
Other key Ideas are ART, CWT, Ezion, FCT, M1 and STX OSV. Add that in recent investor’s presentation, investors were most interested in KepLand to play the bounce while structurally, also interested in F&N, Capital Goods sector and discussions took place on whether DBS or UOB was the bank to own. Some liked Wilmar on its continued turnaround from its disastrous …..
House note that SG cheap but no catalyst. Rating on FSSTI is Neutral, with an FY11 target of 3,440 (14x FY12 P/E). Remain O/w on Financials, Capital Goods, and Underweight on Telco and Transport. Globally, feedback from investors was that SG’s main attraction was value but lacked growth. Common reason for investing in SG seemed to be a strengthening S$.
No comments:
Post a Comment