SINGAPORE (THE BUSINESS TIMES) - Despite deep cuts in the latest quarterly earnings of Singapore-listed companies and trusts, the worst is now behind them, said DBS Group Research in a market strategy report on Monday (Sept 7).. Read more at straitstimes.com.
SINGAPORE - Despite deep cuts in the latest quarterly earnings of Singapore-listed companies and trusts, the worst is now behind them, said DBS Group Research in a market strategy report on Monday .
"Looking beyond the ashes of the Q2 earnings slash, we seek opportunities from the list of companies that saw upward earnings revisions or recommendation upgrades," Mr Yeo and Ms Chua said. These are companies that have emerged positively from the second quarter. As for manufacturing and trade-related names, DBS noted the strengthening purchasing managers' indices in the US and China, as well as the transportation stocks' strong run-up from the third quarter.
Separately, the analysts like Yangzijiang Shipbuilding, given the mainboard-listed Chinese shipbuilder's improving order flow and attractive valuation. "Despite the worst of regional lockdowns in Q2, only 29 per cent of combined STI and Maybank KE coverage stocks missed Street expectations," its analysts wrote.With the steep earnings cut in Q2, the STI now trades between 13.2 times to 13.8 times of its 12-month price-to-earnings ratio.
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