alpha picks

The team’s portfolio fell 2.9% m-o-m in May, but still outperformed the benchmark Straits Times Index (STI)’s 3.7% m-o-m decline.

The analysts have given “buy” calls on MM2, SIAEC and Venture Corp with target prices of 12 cents, $2.80 and $22.80 respectively.

The brokerage has also added ThaiBev to its portfolio and removed Uni-Asia.

"Our portfolio was hurt in December 2021 by the lack of financial sector exposure," says the team.

UOB Kay Hian has also removed its short-term tactical call to short DBS and OCBC.

During the 3QFY2021, UOB Kay Hian’s alpha picks portfolio marginally underperformed the STI, which was helped by share buybacks.

The team has identified two re-rating catalysts to LREIT and has kept “buy” on LREIT with an unchanged target price of $1.01.

The portfolio's performance for July was in line with the STI.

Sector-wise, banks and industrials outperformed, with industrial and hospitality trusts registering declines in May.

SINGAPORE (Feb 8): UOB Kay Hian is maintaining its “buy” call on NetLink NBN Trust considering its dominant market share of 90% and 34% for residential and non-residential fibre connections, respectively, where growth is projected at a three-year CAGR