Figure 1_Average analyst target Alibaba close 10 Oct 23

Alibaba trades at single digit forward PE; net cash with earnings growth. What gives?! (11 Oct 23)

October 11, 2023 el15

Dear all Alibaba, since hitting a post-result intraday high of HKD97.95 on 11 Aug, it has slumped 14.9% to close HKD83.40 on 10 Oct. At HKD83.40, Alibaba trades at 9.3x FY24F and 8.5x FY25F PE. Its financial year ends in Mar. On 26 Sep, Alibaba submitted a spin-off proposal for its Cainiao (click HERE) to the Hong Kong Stock Exchange and the Hong Kong Stock Exchange has confirmed that the Company may proceed with the Proposed Spin-off. A spin-off listing application has been submitted to the Hong Kong Stock Exchange. All in, it looks pretty positive. Why is Alibaba trading […]

Figure 1_Civmec sg analyst target price (clear) 8 Sep 23

Civmec – poised for a potential breakout above flag formation! (10 Sep 23)

September 10, 2023 el15

Dear all With reference to my technical write-up on Boustead Singapore dated 23 Jun (click HERE), I pointed out that Boustead Singapore seems to be poised for a bullish breakout. It closed at $0.825 on 23 Jun and subsequently jumped 9% to touch an intraday high of $0.900 on 26 Jul. This compares favourably to STI which generated a 4.0% over the same period. Another stock, Civmec has recently caught my attention due to its chart development which may portend a potential bullish breakout. It closed $0.805 on 8 Sep. First of all, let’s understand what Civmec does. Description […]

Genting Singapore, touted as a recovery play, trades near eight-month low price! (5 Aug 23)

August 5, 2023 el15

Dear all Recently, Genting Singapore, a supposedly recovery play, closed at a near eight-month low price. It caught my attention especially after Las Vegas Sands (LVS) reported results on 19 Jul 2023. LVS reported a good set of results and indicated that there is scope for further improvement, as China tourists have not come back in full force yet. While the details (such as VIP volume growth and win percentage) may differ markedly from LVS (i.e., Marina Bay Sands) and Genting Singapore, generally speaking, the good set of results in MBS increases the chance that Genting Singapore may report similar […]

Lendlease Reit – Under-appreciated reit; yields >7% per annum! (3 Jul 23)

July 3, 2023 el15

Dear all Lendlease Reit (“Lendlease”) caught my attention as according to consensus, it offers a potential dividend yield of around 7.1% in each of FY23F and FY24F (financial year ends in June). Furthermore, 7 analysts have rated Lendlease a buy with average analyst target price $0.85, representing a potential capital appreciation of around 28.8%. Lendlease closed at $0.660 on 30 Jun 2023. For a reit, such returns, if they indeed materialise, are rather substantial. As such, this leads me to dig deeper into the reit. Last month, I am fortunate to meet Mr Kelvin Chow, CEO of Lendlease Global Commercial […]

Figure 1_Boustead Singapore analyst target price 20 Jun 23

Boustead Singapore – chart poised for a bullish breakout! (23 Jun 23)

June 23, 2023 el15

Dear all With reference to my write-up on Comfort Delgro dated 9 Jun 2023 (click HERE) where I pointed out that I am comfortable to accumulate Comfort Delgro for a trading play, Comfort Delgro closed at $1.03 on 9 Jun, the lowest close last since on 18 Mar 2004. Since my writeup, Comfort Delgro has fortunately appreciated nine out of ten trading days to close almost 15% higher at $1.18 today. This compares favourably with STI which moved up 0.2% over the same period. Another stock, Boustead Singapore has recently caught my attention due to its chart development. It closed […]

Figure 1_Analyst target price for Comfort Delgro 8 Jun 23

Comfort Delgro closed at $1.03, lowest last seen on 18 Mar 2004! (9 Jun 23)

June 9, 2023 el15

Dear all Comfort Delgro (“CD”) closed at $1.03 today. Based on Bloomberg, this was the lowest close last seen on 18 Mar 2004. The main reason cited for this recent drop was that Citi has reduced its target price for CD from $1.63 (26 Feb 2023) to $1.32 (2 Jun 2023). Nevertheless, they maintained their buy call. Is it all doom and gloom? Should we throw in the towel and just give up on CD? Personally, I find CD interesting at current levels. Before I delve into it, just for record purpose, I have a previous article on CD published […]

Chart 1_600329 CH stock price for the past 3 odd years

Nasdaq has soared 14% in 1 month! Should we chase this rally? (30 Jan 23)

January 31, 2023 el15

Dear all It has been a busy January. As you are aware, I have kept my powder dry by taking it slow and easy in Dec and have taken some opportunistic positions amid the sell-off in Dec. Just to recap, with reference to my writeup published on 3 Dec (click HERE), where I mentioned that I am taking it slow and easy in Dec, S&P500 and STI fell by 5.9% and 1.2% respectively in Dec. In fact, S&P500 registered the worst Dec performance in four years. However, Hang Seng was still very resilient and jumped 6.4% in Dec on continual […]

Figure 1_Comfort Delgro analyst target price 19 Jan 23

Comfort Delgro sinks to 14-year low! Will it go lower? (19 Jan 2023)

January 19, 2023 el15

Dear all On 11 Jan, Comfort (CD) closed at $1.21, the lowest close since 31 Oct 2008. The next day, to the horror of CD’s shareholders, it broke $1.21 with volume expansion and closed at $1.18. At the time of this write-up, CD closed today at $1.14, the lowest close last seen 29 Oct 2008. Will CD fall more? Or will this be a comfortable trade at current level? Let’s read on for more. Possible reasons to be bullish A) Still a recovery play CD with its operations in Australia, China, Singapore, UK etc. should gradually benefit as economies […]

Tianjin Pharma – A potential undervalued company, net cash; rides on favourable tailwinds (24 Dec 22)

December 24, 2022 el15

Dear all Last Friday, personal protection equipment (“PPE”) and glovemakers rallied as much as 3% – 36% in a single day (See Table 1 below). This outperformance may be attributed to concerns that the Covid situation in China may worsen with more infections, or may cause the appearance of new variants, which may spur demand for gloves and personal protection equipment. Table 1: SG glovemakers and PPE share price performance on Friday Source: Ernest’s manual compilations 23 Dec 22 Personally, besides PPE and glovemakers which may benefit, Tianjin Pharmaceutical Da Ren Tang Group (“T14”) may be another potential and perhaps […]

Figure 1_Comfort Delgro analyst target price 30 Sep 22

Comfort Delgro drops back to pandemic lows! What gives? (30 Sep 22)

October 2, 2022 el15

On 1 Sep, it was announced that Comfort Delgro (“CD”) will drop out of STI after being first included in the STI on 28 Jul 2010. Subsequently, there was turmoil in United Kingdom (“UK”) gilts and currency as UK government led by Prime Minister Liz Truss unveiled a (surprisingly) GBP45b plan to reduce taxes (click HERE for more information). Although CD may see some near-term price weakness, at Friday’s close of $1.32 (CD touched an intraday low $1.29 at the point of writing this), I personally believe most of the negatives may have already been priced in. Why am I […]