Selective stockpicking in these uncertain times: UOB

SINGAPORE (June 22): Investors should stay selective when picking stocks in these uncertain times as the likelihood of more earnings downgrade is high, warns UOB Kay Hian in a Wednesday report.

Still, the research house has issued “buy” calls for ComfortDelGro, SingTel, City Developments, CDL Hospitality Trusts, Ascendas REIT, China Aviation Oil and Innovalues. Companies with a “sell” include StarHub and M1.

For stocks with UK exposure, UOB is picking ComfortDelGro and City Developments with a target price of $3.16 and $10.36 respectively. While ComfortDelGro has underperformed on Brexit and Uber fears, UOB believes most of the negative news have already been priced in, says Andrew Chow, lead analyst for the report.

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