Key Indices
Top Stories
Company Update | Food Empire Holdings (FEH SP/BUY/S$1.95/Target: S$3.49)
- FEH’s operations and investments in Russia remain unaffected by the recent measures against one of its peers. The disruption to its peer’s coffee business could allow FEH to gain market share, while FEH’s Singapore base reduces the risk of asset confiscation. A potential massive short covering and share buyback are near-term catalysts. FEH trades at an attractive 12.5x 2027F PE. Maintain BUY with a target price of S$3.49.
Company Update | LHN (LHN SP/BUY/S$0.535/Target: S$0.591)
- LHN’s 3QFY26 update showed resilient core operations despite softer co-living and commercial occupancies, while its expansion pipeline, new contracts and capital recycling initiatives support medium-term growth. We keep earnings unchanged but lower our valuation multiple to reflect a moderating industry valuation. Maintain BUY with a revised target price of S$0.591, based on 8.6X FY27F PE.
Market Spotlight
- US stocks were mixed on Tuesday. The Dow Jones and S&P 500 fell while the Nasdaq rose as the materials, consumer staples and information technology sectors gained. There were more advancers than decliners on the Nasdaq.
- The FSSTI rose 48.53pt to 5,723.76, on the back of strength in OCBC, DBS and SIA, with both mid- and smallcap indices rising with a broad market advance on S$2.21b turnover.
Technical Analysis
Hong Fok Corp (HFC SP)
- Trading Buy Range: S$0.905-0.910
Singapore Tech Engineering (STE SP)
- Trading Buy Range: S$10.57-10.58
Top Stories
Company Update | Food Empire Holdings (FEH SP/BUY/S$1.95/Target: S$3.49)
- FEH’s operations and investments in Russia remain unaffected by the recent measures against one of its peers. The disruption to its peer’s coffee business could allow FEH to gain market share, while FEH’s Singapore base reduces the risk of asset confiscation. A potential massive short covering and share buyback are near-term catalysts. FEH trades at an attractive 12.5x 2027F PE. Maintain BUY with a target price of S$3.49.
Company Update | LHN (LHN SP/BUY/S$0.535/Target: S$0.591)
- LHN’s 3QFY26 update showed resilient core operations despite softer co-living and commercial occupancies, while its expansion pipeline, new contracts and capital recycling initiatives support medium-term growth. We keep earnings unchanged but lower our valuation multiple to reflect a moderating industry valuation. Maintain BUY with a revised target price of S$0.591, based on 8.6X FY27F PE.
Market Spotlight
- US stocks were mixed on Tuesday. The Dow Jones and S&P 500 fell while the Nasdaq rose as the materials, consumer staples and information technology sectors gained. There were more advancers than decliners on the Nasdaq.
- The FSSTI rose 48.53pt to 5,723.76, on the back of strength in OCBC, DBS and SIA, with both mid- and smallcap indices rising with a broad market advance on S$2.21b turnover.
Technical Analysis
Hong Fok Corp (HFC SP)
- Trading Buy Range: S$0.905-0.910
Singapore Tech Engineering (STE SP)
- Trading Buy Range: S$10.57-10.58
Key Indices
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