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Singapore stock preview: SIA, AEM, Mapletree Industrial Trust, SGX

SGX-ST mainboard stocks to note for the week of 14 September 2020.

Mapletree Industrial Trust SGX Singapore exchange SIA Singapore Airlines AEM Holdings share price target rating prediction stocks buy sell short long trade trading platform Source: Bloomberg

Mapletree Industrial Trust (SGX: ME8U)

Mapletree Industrial Trust has entered into a sale, purchase and escrow agreement with an unrelated third-party vendor for the proposed acquisition of a data centre and office for a consideration sums of between S$272.8 million and S$356.5 million.

The property, located in Virginia, US, is fully leased on a triple net basis with a balance lease term of more than five years to a multinational company.

The property has a valuation of between S$278.8 million and S$361.8 million as of 31 August 2020 from Cushman & Wakefield in North Carolina.

The valuations are respectively 2.2% and 1.5% higher than the purchase considerations.

Mapletree Industrial Trust shares rose 0.64% on Monday (14 September 2020) morning. Shares are trading at S$3.14 as at 11:15 SGT.

The stock has an average rating of ‘buy’ from 16 brokers polled by Refinitiv.

Singapore Exchange (SGX: S68)

Singapore Exchange (SGX) reported its August 2020 market statistics last Friday 11 September 2020, in which total securities market turnover jumped 18% year-on-year to S$28.1 billion.

Meanwhile, equity index futures declined 11% year-on-year to 14.9 million contracts, as volatility of underlying Asian markets returned to more normal levels.

Commodities managed a 10% month-on-month gain in volume amid China’s reopening and hedging activity. Iron ore derivatives recorded volume of 2.1 million contracts, up 13% month-on-month as iron ore futures prices flirted with a multi-year high.

SGX shares opened at S$8.52 each on Monday 14 September 2020, rising 0.5% thirty minutes later.

The stock currently has an average rating of ‘hold’ from 13 brokers polled by Refinitiv.

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Singapore Airlines (SIA) Group announced last Thursday (10 September 2020) that it would cut around 4,300 positions across its three airlines – flagship carrier SIA, regional arm SilkAir and low-cost wing Scoot.

Shares fell 1.4% within minutes of the market opening on Monday 14 September 2020 to S$3.53 each.

The stock currently has an average 12-month target price of S$3.41 a share from 11 analysts polled by Bloomberg, as of 10 September 2020. This represents a downside of 3.4% from the last traded price.

Eight brokers have rated the stock a ‘hold’, while four gave ‘sell’ recommendations.

Read more: Top 5 Singapore stocks to watch in September 2020

AEM Holdings (SGX: AWX)

Last Thursday, electronics company AEM Holdings Ltd raised its full-year revenue guidance for fiscal 2020 by roughly 4% to between S$480 million to S$500 million.

AEM shares soared as much as 10.6% a day after the group raised its revenue guidance for the full 2020 financial year.

This week, the stock opened at S$3.68 per share, and rose to S$3.75 at 10:00 SGT on the IG platform.

Following the guidance revision, Maybank analysts on Friday raised their AEM target price by 19% to S$5.05, up from S$4.04 previously. Rating remained unchanged at ‘buy’.

The stock currently has a mean 12-month target price of S$4.56, according to Refinitiv analyst ratings. ­­­­­This represents a potential stock upside of around 24%.

How to trade Singapore stocks with IG

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