Bukalapak.com (BUKA IJ/BUY/Rp123/Target: Rp270): 1Q24: Records positive EBITDA for the first time in its history. GoTo GoJek Tokopedia (GOTO IJ/HOLD/Rp66/Target: Rp70): 1Q24: Loss improves by 77.7% − ahead of expectations. Indosat (ISAT IJ/HOLD/Rp10,625/Target: Rp11,400): 1Q24: EBITDA up 22% yoy with stable EBITDA margin vs 4Q23. Downgrade to HOLD. Jasa Marga (JSMR IJ/BUY/Rp5,025/Target: Rp7,300): 1Q24: NPAT rises 17.8% yoy on robust toll revenue growth. Results within expectations. TRADERS’...
KEY HIGHLIGHTS Sector REITs S-REITs monthly update (Apr 24). Results Far East Hospitality Trust (FEHT SP/BUY/S$0.615/Target: S$0.82) 1Q24: Growth from strong room rates and optimising occupancy. Venture Corporation (VMS SP/BUY/S$14.46/Target: S$16.37) 1Q24: A soft start but expect sequential improvement. TRADERS’ CORNER Top Glove Corp (TOPG SP): Trading BUY ...
Chinese variety show "Ride the Wind 2024" receives its first French singer Joyce Jonathan Recently, the popular variety show "Ride the Wind 2024" produced by China's Mango TV receives its first French singer Joyce Jonathan. French singer Joyce Jonathan debuts in the variety show Ride the Wind 2024. [Photo: Courtesy of Mango TV] CHANGSHA, China, May 06, 2024 (GLOBE NEWSWIRE) -- This show is a music competition as well as international cultural exchange platform, featuring accomplished females from worldwide. In this show, 36 international female stars from France, the United States, R...
GREATER CHINA Sector Consumer: Tourism and catering strong performances during the Labour Day holiday. INDONESIA Results Bukalapak.com (BUKA IJ/BUY/Rp123/Target: Rp270): 1Q24: Records positive EBITDA for the first time in its history. GoTo GoJek Tokopedia (GOTO IJ/HOLD/Rp66/Target: Rp70): 1Q24: Loss improves by 77.7% − ahead of expectations. Indosat (ISAT IJ/HOLD/Rp10,625/Target: Rp11,400): 1Q24: EBITDA up 22% yoy with stable EBITDA margin vs 4Q23. Downgrade to HOLD. Jasa Marga (JSMR IJ/BUY/Rp5...
VMS’ 1Q24 earnings of S$60m (-18% yoy/-10% qoq) are broadly in line with our expectation, meeting 21% of our full-year estimate. The soft performance was due to lower customer demand amid some remaining headwinds which are beginning to taper off. VMS is targeting for revenue to improve qoq in 2Q24 and hoh in 2H24. It is growing with its customers as well as onboarding new customers in the EMS++ and precision engineering businesses. Maintain BUY and target price of S$16.37.
FEHT will benefit from the recovery of MICE events and strong room rates in Singapore due to its focus on the domestic market. The incentive fee of S$18m from divestment of Central Square could be utilised to cushion the negative impact of higher interest rates. FEHT provides a 2024 distribution yield of 6.7%. Its low P/NAV of 0.67x is unwarranted given its good corporate governance, strong sponsor and low aggregate leverage of 31.5%. Maintain BUY. Target price: S$0.82.
S-REITs weathered selling pressure as investors now expect interest rates to stay higher for longer. Many blue chip S-REITs are trading at attractive distribution yields of 6-7% after the correction. Maintain OVERWEIGHT. Our top picks are hospitality and retail plays, which benefit from the continued recovery in visitor arrivals and resilient consumer spending. BUY CDREIT (Target: S$1.45), FCT (Target: S$2.71), FEHT (Target: S$0.82), FLT (Target: S$1.52), KREIT (Target: S$1.20) and MPACT (Target...
We have downgraded to HOLD (BUY) and trimmed our target price to SEK135 (136) following rather soft Q1 results that showed a risk in vacancy adding concern about the rental market outlook. We consider the stock fully valued, given only an 10% NAV discount (adjusted for Entra at market value) and its soft FFOPS growth outlook.
Lindab’s markets remain under pressure, but comparables are becoming easier, and we expect positive organic growth in H2 2024. Due to the weak Q1, we have reduced our 2024–2026e adj. EBIT by c5% on average and our target price to SEK244 (250), but reiterate our BUY. We expect earnings growth from Q4 onwards, and see upside potential to our target price.
The Q1 report came as a relief to the capital markets. With decent quarterly results, capacity expansion on track, and a still-supportive demand outlook, the industrial business case looks intact. That said, we note the still-high funding need. We reiterate our HOLD, but have raised our target price to NOK7 (6) on lower dilutive effects from assumed further capital raises after Friday’s share price rally. The stock continues to trade at an attractive 40–50% discount to other hydrogen equipment s...
CHICAGO--(BUSINESS WIRE)-- GE HealthCare (Nasdaq: GEHC) today unveiled SIGNA MAGNUS, an FDA 510(k) pending head-only magnetic resonance (MR) scanner designed to explore advancements in neuroscience, which have been restricted by the performance limitations of conventional whole-body MR systems. Neuroscience, particularly in the study of psychiatric diseases and neurological disorders such as Alzheimer’s, has been constrained by technological and biological limitations, leaving many aspects of the brain structure and functionality largely unexplored. Today, 43% of the world’s population suffe...
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