KGI Securities Research

KGI is initiating coverage on Hyphens Pharma with an “outperform” call and a target price of 48 cents.

KGI Securities analyst Joel Ng is maintaining his “neutral” recommendation on Sembcorp Marine. He has also slashed his target price on the stock to 23 cents from $1.19 previously as valuations bottom out.

However, she warns that with the economy in a recession, patients’ willingness to spend on non-essential procedures may be affected.

KGI Securities has initiated coverage on Singapore Medical Group (SMG) with an “outperform” call and target price of 34 cents, which represents a total upside of 39.0%, including a forecasted dividend yield of 1.4% for FY21F.

KGI Securities has initiated coverage on China-based property developer Yanlord Land Group Limited with an “outperform” recommendation and a target price of $1.30.

“Semiconductors serve as the backbone to all things tech. Hence, we remain fairly confident for the industry,” KGI analyst Kenny Tan tells The Edge Singapore.

KGI Securities says it is “confident” that most of the REIT’s e-commerce assets in China will “perform as expected”.

“The lack of clarity and information is the main problem for investors. You don’t really know what’s happening,” says KGI analyst Amirah Yusoff.

The revenue guidance also appeared to have been a surprise to market watchers. AEM is set to surpass Maybank Kim Eng Research’s forecast by 4-11%, and KGI Securities’ one by 12-19%.

EHT also booked a distribution per stapled security (DPS) of 1.649 US cents, 1.3% less than the forecasted 1.67 US cents. In its earnings call on Sept 30, the REIT’s manager said the misses were attributable to the group’s 10.6% revenue drop to US$