Daily Morning Note – 13 June 2018
WEEKLY MARKET OUTLOOK WEBINAR
Register HERE for MONDAY’s 11.15am webinar.
Archived webinars available.
shopper360 Limited – The key to win consumers’ dollars
Recommendation: Trading Buy, Last Close Price: S$0.18
Target Price: S$0.33, Analyst: Soh Lin Sin
– Contracts from new and existing clients, and expanded media portfolio would
drive FY19e earnings; Expect Core earnings to grow at 20% p.a. in FY18-19e
– First mover advantage in Southeast Asia’s final frontier via strategic
partnership with Myanmar’s leading modern retail chain
– Initiate with Trading BUY and TP of S$0.33; Undemanding valuations with
adjusted trailing-PE of 5.8x, vs global peers’ 13.0x
Global markets were subdued following Tuesday’s meeting between U.S. President Donald Trump and North Korean leader Kim Jong Un. The Dow Jones industrial average finished 1.6 points lower at 25,320.73, weighed down by losses in Travelers Companies and Goldman Sachs. The S&P 500 closed 0.17 percent higher to 2,786.85 helped by utilities, which ended the day 1.3 percent higher. The Nasdaq composite closed 0.57 percent higher at 7,703.79 thanks to upticks in Facebook, Apple, Amazon, Netflix and Google-parent Alphabet.
The Federal Reserve will end its two-day meeting on Wednesday U.S. hours and is widely expected to announce a rate hike.
U.S. President Donald Trump made a stunning concession to North Korean leader Kim Jong Un on Tuesday about halting military exercises, pulling a surprise at a summit that baffled allies, military officials and lawmakers.
AT&T Inc won court approval on Tuesday to buy Time Warner Inc for $85 billion.
Tesla Inc is cutting several thousand jobs across the company as it seeks to reduce costs and become profitable without endangering the critical production ramp-up for its Model 3 sedan.
British American Tobacco plc (BAT) said the rapid growth of tobacco-heating products in Japan has slowed.
AstreaIV’s S$121 million retail offering of Class A-1 private equity bonds closed 7.4 times subscribed at noon on Tuesday, with nearly S$890 million in valid applications received.
Frasers Property said that its Frasers Hospitality business has opened Fraser Place Binhai Tianjin – its second property in Tianjin.
Deliveroo will allow restaurants to use their own riders for orders placed through its takeaway food app, in a move which will boost the number of available outlets by 50 percent.
Sembcorp Marine has secured its first polar expedition cruise ship design contract. The contract signed between SembMarine’s subsidiary, LMG Marin and Croatia’s Brodosplit Shipyard, is for the design of a ship to be built for Quark Expeditions.
Source: SGX Masnet, Bloomberg, Channel NewsAsia, Reuters, The Business Times, PSR
Clients of Phillip Securities can keep updated with Country Strategy and Singapore Sector Reports by logging into: www.poems.com.sg > STOCKS > Research
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