Sing Investments & Finance | Accumulate July 24 close: S$1.51 Target price: S$1.67 Phillip Securities Research, July 24

EXPECT sharp increase in profit after tax and minority interests (Patmi) as net income margin (NIM) improves on rising rates and provisioning normalises. Initiate with "accumulate" rating with a target price of S$1.67, implying an upside of 18.58 per cent (including FY17e dividends).

Cache Logistics Trust | Hold July 24 close: S$0.89 Target price: S$0.95 Maybank Kim Eng, July 24