SG Strategy: Citi has strategy report. House forecasts STI target at 3558, and while earnings revisions count has turned negative, note that inflation is moderating and expect CPI to average 4% YoY for 2011 as a stronger S$ helps dampen imported inflation……
House key stock picks include KepCorp as a proxy for rising demand for replacement rigs; DBS as a proxy of banks in Spore that have a strong equity base and have enjoyed rising loan growth momentum, Wilmar on the turnaround of its oilseeds unit in 1Q11. Also see value in specific developers such as WingTai - which is near the bottom end of its trading range. Also like A-Reit and Singtel due to their attractive div yields.
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