Singapore Stock Market News
First Resources - Trade War Jitters
StockFanatic
Publish date: Thu, 02 Aug 2018, 12:41 PM
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Welcome to Stockfanatic Singapore stock market and regional market news. This is a platform to share Singapore stock market and regional news to investors / man in the street. Investors can also look forward to analyst reports and brokers recommendations. Stockfanatic's Singapore stock market and regional news blog, home of investors one stop news station.
Maintain NEUTRAL call and TP of SGD1.60, 1% downside. We believe CPO prices have overreacted negatively to the trade war and expect to see some respite in 4Q18, post seasonal peak. However, given the larger-thanexpected price reaction, we are cutting our CPO price assumptions for 2018-2019 to MYR2,400-2,500. Our earnings have been cut by 10-13% for 2018F-2020F. Our valuations have been rolled over to 2019 and we lower our P/E target to 11x from 12x, based on regional sector valuations. Read More
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