Singapore Stock Picks 1Q2026
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Financial
DBS (SGX:D05)
ACCUMTP: S$58.00
Dvd. Yield: 5.4%
- We expect the ordinary dividend step-up of 24cents/year to continue until FY2027e, FY27e dividend yield of 6.1%
OCBC (SGX:O39 )
ACCUMTP: S$20.00
Dvd. Yield: 5.1%
- Assuming PATMI flat for the next 5 years and dividend policy unchanged, CET-1 will reach ~21.5%
- Optimal CET-1 is 14%, additional 1% = ~S$2.7bn or DPS of ~76cents
- Able to continue capital return dividend of 10% dividend payout ratio or 16cents
Property/REIT
Prime US REIT (SGX:OXMU)
BUYTP: S$0.30
Dvd. Yield: 1.9%
- 10.8% of occupancy yet to commence cash contribution
- Occupancy is expected to recover to 85% by end-2025 and 90% by end-2026
Stoneweg Trust (EUR) (SGX:SET)
BUYTP: S$1.86
Dvd. Yield: 8.0%
- €50mn investment in AiOnX, with significant upside potential
- No debt due until 2030
- Resilient earnings with DPU growth expected in 2026
City Developments (SGX:C09)
BUYTP: S$9.62
Dvd. Yield: 2.2%
- Ongoing asset monetisation + Resilient property development sales with strong development pipeline
Conglomerate
Keppel Ltd (SGX:BN4)
BUY
TP: S$12.20
Dvd. Yield: 3.5%
- Trading within uptrend channel since Jun 2025
- Broke out of S$10.38 bullish flag resistance in Jan 2026
- Potential target at S$11.92, to retest uptrend channel resistance area
Geo Energy (SGX:RE4)
BUY
TP: S$0.59
Dvd. Yield: 2.9%
- The completion of the hauling road is a major earnings driver for Geo. It ramps up production to 25mn MT (FY25e: 11.2mn) and generates a new earnings stream from road usage and tug-and-barge transportation fees
Wee Hur Hldgs.(SGX:E3B)
BUYTP: S$0.90
Dvd. Yield: 1.4%
- Record S$629mn construction order book + 47% increase in worker dorm beds by 4Q25e + portfolio pipeline visibility
Frencken (SGX:E28)
BUYTP: S$1.87
Dvd. Yield: 1.9%
- Expected WFE spending acceleration in 2H26e + attractive valuations at 15x FY25e P/E
Telecom
Singtel (SGX:Z74)
ACCUMTP: S$5.35
Dvd. Yield: 3.7%
- Mobile price recovery + S$8bn identifiable monetisation + data centre earnings growth
To view the recording of our Singapore Outlook 3Q2025 webinar, please visit:
Youtube@PhillipCapital
To view the recording of our Singapore Outlook 3Q2025 webinar, please visit:
Youtube@PhillipCapital
FAQ
How to start investing in stocks on POEMS platform?Embark your stock trading journey by opening an Account with POEMS. Explore the step-by-step guides and video tutorials on navigating POEMS 2.0, POEMS Mobile 3.0 and POEMS Pro here.
What does a "BUY", "ACCUMULATE" or "Sell" recommendation mean?“BUY”: A “BUY” recommendation indicates that the analyst believes the stock is likely to increase in value over time and that investors should consider purchasing it. This recommendation often suggests the stock is undervalued or expected to perform well in the near future.
“ACCUMULATE”: This recommendation implies that the stock is anticipated to rise in value but may already have experienced some price appreciation. Analysts recommend gradually buying shares over time, particularly if the stock is trading at a higher price.
“SELL”: A “SELL” recommendation signals that the analyst expects the stock’s value to decrease or considers it overvalued. Investors are advised to sell to avoid potential losses.
How often are stock recommendations updated?The stock recommendations are updated on a quarterly basis.
What is the difference between short-term and long-term investing?Key Differences Between Short-Term and Long-Term Investing:
Aspect | Short-Term Investing | Long-Term Investing |
Time Horizon | A few months to a couple of years | Several years to decades |
Objective | Capitalisze on short-term market movements | Build wealth over time with compound growth |
Strategy | Active trading, speculation, reacting to market events | Buy and hold, growth, value, or dividend investing |
Risk | Higher risk due to market volatility and unpredictability | Lower risk over time, though still subject to market fluctuations |
Returns | Potential for quick, but often volatile returns | Steady, compounding returns over a longer period |
Liquidity Needs | High liquidity, able to buy/sell quickly | Lower liquidity, funds are typically tied up for longer periods |
Market Sensitivity | Highly sensitive to short-term news, events, and trends | Less sensitive to short-term fluctuations; focused on long-term fundamentals |
There is no fixed formula but a combination of future earnings growth, valuations, balance sheet strength and attractiveness of the business model.
Should I follow stock recommendations blindly, or should I do my own research?Analyst stock recommendations are based on their individual views, assumptions, and forecasts, which may differ from actual outcomes, potentially impacting share prices. The types of stocks recommended may not align with your personal financial objectives. It is important to understand the investment rationale and financial assumptions behind any analyst recommendation before making a decision.
What factors should I consider when choosing stocks to invest in?When choosing stocks to invest in, it’s important to evaluate the company’s fundamentals, such as earnings growth, profit margins, debt levels, and cash flow, as well as its valuation using metrics like P/E ratio and P/B ratio. Consider the industry outlook, including trends, competition, and regulatory risks, and assess the company’s management and governance.
What is diversification, and why is it important in stock investing?Diversification is the strategy of spreading investments across different stocks, sectors, or asset classes to reduce risk. By holding a variety of investments, you minimise the impact of any single asset’s poor performance, as losses in one area can be offset by gains in another. This helps smooth out volatility, improve the consistency of returns over time, and protect against unforeseen risks, such as market downturns or company-specific issues.
How can I track my stock investments in POEMS?There are two methods to find your portfolio. You can either head to the ‘Me’ Tab > Select ‘Portfolio’ or head to the ‘Trade’ Tab > Select ‘Positions’ > Select ‘Holdings’.
What is a stock's "target price" and how should I interpret it?A stock’s target price is an analyst’s estimated price level for the stock over the next 12 months, based on their evaluation of the company’s fundamentals and market conditions. It reflects the expected future value of the stock, with a price below the target suggesting potential for growth (undervalued) and a price above it indicating the stock may be overvalued
What is a stock's "dividend yield" and how should I interpret it?A stock’s dividend yield is the annual dividend payment divided by the stock’s current price, expressed as a percentage. It indicates how much income an investor can expect to earn from dividends relative to the stock price.
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