Brokers' take
Q1 2017 report card UOB Kay Hian, May 17
AFTER two years of earnings disappointments, we are seeing nascent signs of an earnings recovery, with market earnings per share raised after Q1 2017. However, we are selective after the FSSTI's outperformance, and are buying laggards and inexpensive blue chips. Our key picks are OCBC Bank, Venture Corporation, CapitaLand, Frasers Logistics & Industrial Trust, Ascendas Reit, Sembcorp Industries and CapitaLand Commercial Trust. "Sells" include SIA Engineering and Singapore Press Holdings. Investors with an appetite for mid-caps and looking for alphas could consider China Aviation Oil, Keppel Telecommunications & Transportation and Citic Envirotech.
CNMC Goldmine Holdings | Buy Target price: S$0.44 May 17 close: S$0.295 Phillip Securities Research, May 17
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Companies & Markets
Oil settles higher on supply concerns in the Mid-East, economic woes subdue gains
S-Reits falter as investors weigh possibility of zero rate cuts in 2024
CapitaLand Investment posts total revenue of S$650 million for Q1
Europe: Stoxx 600 logs best day in three months as banks shine
US: Stocks rally after strong tech results
Porsche posts Q1 profit drop on ramp-up costs