Top undervalued stocks to watch in Singapore in 2026

What is an undervalued stock?

An undervalued stock is one that trades at a price below what analysts or investors believe it’s truly worth. This difference often stems from market sentiment, not fundamentals.

For example, a company might have strong earnings, cash reserves and growth potential, but still see its share price suppressed due to:

• Temporary sector weakness
• Global economic uncertainty
• Negative headlines or investor overreaction

These discrepancies can create opportunities for traders who expect the market to correct its view over time.

Common signs a stock might be undervalued
 

• Low price-to-earnings (P/E) or price-to-book (P/B) ratio vs industry peers
• High dividend yield relative to historical norms
• Stable fundamentals despite falling or flat price
• Insiders or institutions increasing their holdings

Why trade and invest in undervalued stocks in Singapore?

Singapore’s stock market (SGX) offers a unique blend of opportunities for value investors seeking long-term growth and active traders looking for short-term price movements.

From REITs and banks to transport, logistics, and industrial conglomerates, the SGX has historically been home to resilient businesses that sometimes trade below their intrinsic value.

Key reasons undervalued SGX stocks appeal to investors and traders
 

• Stable, cash-generating companies

Many SGX-listed firms boast strong balance sheets, reliable earnings, and consistent dividend payouts. For investors, this means steady income streams; for traders, it creates predictable price floors that reduce downside risk.

• Under-the-radar opportunities

Unlike US or Hong Kong markets, Singapore stocks often receive less analyst coverage and media attention. This limited visibility allows mispricing to persist longer, creating potential entry points for traders to exploit short-term inefficiencies and for investors to accumulate undervalued positions before the market catches up.

• Catalysts for revaluation

Shifts in interest rates, regional demand, or economic cycles can quickly re-rate undervalued SGX stocks. Traders can benefit from sharp price movements during these catalysts, while investors can gain from long-term appreciation as fundamentals realign with valuations.

• Diversification with regional exposure

SGX-listed companies provide access to ASEAN growth markets and global trade flows, making them attractive for portfolio diversification. Investors secure exposure to stable dividends and regional expansion, while traders capitalise on volatility tied to macroeconomic events.

How to identify undervalued SGX stocks

1. Use valuation metrics
 

Look for stocks trading at relatively low valuations compared to historical averages or sector peers:

• P/E ratio: Indicates how much you’re paying per dollar of earnings
• P/B ratio: Shows how the market values a company’s assets
• EV/EBITDA: Useful for comparing capital-intensive firms

Remember that a low valuation alone isn’t enough. You’ll want to cross-check with other indicators.

2. Analyse fundamentals
 

Use IG’s platform tools and research to assess:

• Revenue and profit trends
• Cash flow strength
• Debt levels
• Dividend consistency
• Competitive advantages

Stocks with strong fundamentals and stable outlooks, despite low market prices, may signal true undervaluation.

3. Monitor price action and sentiment

Pair valuation with technical analysis:

• Look for support zones, basing patterns or breakouts from long downtrends
• Use IG price alerts to watch for reversals or breakouts
• Track institutional flows or insider buying

Combining fundamentals with momentum signals can help confirm potential recovery trades.

Top 5 undervalued Singapore stocks to watch
 

1. OCBC (SGX: O39) - regional bank with wealth and insurance franchises

Market cap: ~S$101 billion (April 2026)

Financial performance (FY2025):

• Group net profit: S$7.42 billion, down by 2% year-on-year (YoY).
• Profit before tax (PBT): ‘Record high’ of S$9.12 billion, up by 2% YoY.
• Total income: S$14.60 billion (up by 1% YoY), driven by 16% growth in non‑interest income.
• Net interest income: S$9.15 billion, a decline of 6% YoY.
• Earnings per share (EPS): S$1.63, down by 3% YoY.
• Return on equity (ROE): 12.6%, down by 1.1 percentage point YoY.

Dividend payout:

• Proposed final ordinary dividend: S$0.42 per share
• Special dividend: S$0.16 per share
• Total dividend for FY25: S$0.99 per share (including interim dividend).
• Capital return plan: S$2.50 billion targeted to complete by FY26.

Other financial/ business metrics to note:

• Loans (constant currency): S$341 billion, 9% YoY.
• Customer deposits: S$428 billion, up by 10% YoY.
• Loans‑to‑deposits ratio: 78.6%, unchanged from previous quarter.
• CET1 capital ratio (transitional): 16.9%. 
• CET1 capital ratio (fully phased-in): 15.1%.
• Non‑performing loan (NPL) ratio: 0.9%, unchanged YoY.
• Total allowances: S$665 million, down by 4% YoY.
• Credit costs: 17 basis points (bps), down from 19 bps a year prior.

Trading information (23 April 2026):

• Price-to-earnings (P/E) ratio: 13.9 times
• Price-to-book (P/B) ratio: 1.6 times
• 50-day moving average share price: S$21.60
• 200-day moving average share price: S$18.95
• Average daily trading volume (three-month): ~6.3 million shares

Analyst stock ratings and share price targets: OCBC shares have been rated ‘buy’ by 47% of analysts polled by FactSet, with another 35% and 18% rating is ‘hold’ and ‘sell’, respectively. The stock also has an average share price target of S$22.63 per share. (23 April 2026).. 

2. SIA (SGX: C6L) — full service carrier and group hub operator

Market cap: S$20.6 billion

Financial performance (Q3 FY2025/26):

• Total revenue: S$5.51 billion, up by 5.5% YoY.
• Operating profit: S$791.9 million, up by 25.9% YoY.
• Net profit: S$504.6 million, down by 68.9% YoY due to absence of prior‑year one‑off accounting gain of S$1.10 billion.
• Group expenditure: S$4.70 billion, up by 2.7% YoY.
• Earnings per share (basic): 16.1 Singapore cents, down from 54.7 Singapore cents a year ago.

Dividend payout:

• No final FY2025/206 dividend figure announced in the Q3 earnings release. 
• Total dividends paid out so far in FY2025/2026: S$0.08 (interim dividend of S$0.05 and interim special dividend of S$0.03 in December 2025).

Other financial/ business metrics to note:

• Cash and bank balances: S$6.10 billion as at 31 December 2025, down from S$8.3 billion as at 31 March 2025.
• EBITDA: S$1.34 billion in Q3 FY2025/2026, down from S$2.45 billion in Q3 FY2024/2025.
• Net asset value per share: S$5.03 per share as at 31 December 2025, down from S$5.27 as at 31 March 2025.
• Passenger demand and yields: passenger traffic remained ‘robust’ with 10.9 million passengers carried in the quarter, up by 6.3% YoY.
• Group passenger load factor: 87.5% (stable YoY), supported by a 1.9% YoY rise in passenger yields.

Trading information (23 April 2026):

• Price-to-earnings (P/E) ratio: 17.3 times
• Price-to-book (P/B) ratio: 1.30 times
• 50-day moving average share price: S$6.72
• 200-day moving average share price: S$6.63
• Average daily trading volume (three-month): ~8.6 million shares

Analyst stock ratings and share price targets: SIA shares have a majority ‘buy’ rating, with 67% of analysts rating it as such, based on FactSet data published on the IG Markets mobile app. Analysts also provided an average price target of S$6.65, indicating that the stock has a small upside potential of 2.9% over the next 12 months. (23 April 2026)

3. Wilmar International (SGX: F34) - agribusiness and food‑processing conglomerate

Market cap: S$24.3 billion

Financial performance (FY2025):

• Revenue: US$70.42 billion, up 4.5% YoY.
• Net profit: US$1.41 billion, up 21% YoY.
• Core net profit: US$1.28 billion, up 10% YoY.
• EBITDA: US$427 billion, up by 9.9% YoY.
• Earnings per share (fully diluted): US$0.23, up from US$0.19 in FY2024.

Dividend payout:

• Final tax‑exempt dividend proposed for H2 FY2025: S$0.10 per share.
• Total dividend for FY2025: S$0.14 per share (interim S$0.04 + proposed final S$0.10).
• The lower dividend for FY2025 compared to FY2024 is due to one-off non-core cash adjustments in FY2025.

Other financial / business metrics to note:

• Cash and cash equivalents (12 months ended 31 December 2025): US$2.62 billion, versus US$3.04 billion a year ago.
• Net cash generated from operating activities: US$2.36 billion at the end of FY2025, versus US$1.37 billion at end-FY2024.
• Capital expenditure: US$1.08 billion in FY2025, down by 31% YoY.
• Group net asset value per share (31 December 2025): US$3.50, up from US$3.18 a year ago. 

Trading information (23 April 2026):

• P/E ratio: 13.6 times
• P/B ratio: 0.9 times
• 50‑day moving average share price: S$3.71
• 200‑day moving average share price: S$3.22
• Average daily trading volume (three‑month): ~9.2 million

Analyst stock ratings and share price targets: Wilmar shares have a majority ‘hold’’ rating and 12-month average stock price target of S$3.74, based on FactSet Insights published on the IG Markets app. (23 April 2026)

4. Keppel REIT (SGX: K71U) — prime Asia Pacific commercial portfolio
 

Market cap: US$4.44 million

Financial performance (Q1 2026):

• Property income: S$78.6 million, up by 14.4% YoY.
• Net property income (NPI): S$59.9 million, up by 9.7% YoY.
• NPI attributable to unitholders: S$54.7 million, up by 9.1% YoY.
• Share of results of joint ventures: S$41.7 million, up by 37.6% YoY (benefitting from additional one‑third interest in MBFC Tower 3).

Dividend payout/ distribution amount:

• Distributable income from operations: S$57.9 million, up from S$48.4 million a year ago.
• Distributable income including anniversary distribution: S$62.9 million, up by 17.8% YoY from S$53.4 million a year ago.
• Estimated Q1 2026 DPU: 1.27 Singapore cents (based on 4,955 million units).
• No additional one‑off distribution was payable in Q1 2026.
• Distributions are paid semi‑annually for periods ending 30 June and 31 December
• Keppel REIT also runs a S$100 million Anniversary Distribution (S$20 million per annum) through mid‑2027. 

Other financial / business metrics to note:

• Portfolio value: ~S$11.8 billion across Singapore, Australia, South Korea and Japan.
• Singapore assets comprise ~78.9% of the portfolio.
• Portfolio occupancy: 97.1%.
• Rental reversion: 17.2% for lease renewals in Q1 2026.
• Portfolio weighted average lease expiry (WALE): ~4.4 years.
• Top‑10 tenants WALE: ~8.0 years.

Trading information (24 April 2026):

• P/E ratio: 7.9 times
• P/B ratio: 0.8 times
• 50‑day moving average share price: S$0.93
• 200‑day moving average share price: S$0.98
• Average daily trading volume (three‑month): ~17.7 million

Analyst stock ratings and share price targets: Keppel REIT shares have a majority ‘hold’’ rating (with 50% of analysts polled by FactSet rating it as such). The stock also has an average price target of S$0.98, indicating a potential upside of over 10% over the next 12 months. (24 April 2026)

5. Golden Agri‑Resources (SGX: F34) — integrated palm‑oil agribusiness

Market cap: US$3.9 billion

Financial performance (FY2025):

• Revenue: US$12.95 billion, up by 19% YoY.
• EBITDA: US$1.26 billion, up by 14% YoY, mainly due to stronger second-half performance.
• EBITDA margin: 9.7%.
• Net profit: US$400 million, up by 10% YoY (affected by lower FX gains vs prior year).

Dividend payout:

• Final dividend proposed: 0.952 Singapore cents per share, up by 18% YoY.
• The proposed dividend amount equates to a total payout of approximately US$94 million.
• Proposed dividend also represents ~18% of underlying profit and ~23% payout ratio on net profit
• The final dividend will be paid out on 20 May 2026, subject to shareholder approval.

Other financial / business metrics to note:

• Planted area: 531,000 hectares (including plasma), slightly lower than 2024, due to preparation of old estates for replanting. 
• Rejuvenated 16,800 hectares in 2025 using higher‑yielding, next-generation materials.
• Yield & output: Full‑year fruit yield 19.0 tonnes per hectare, up by 2% YoY. 

Trading information (24 April 2026):

• P/E ratio: 7.6 times
• P/B ratio: 0.6 times
• 50‑day moving average share price: S$0.30
• 200‑day moving average share price: S$0.28
• Average daily trading volume (three‑month): ~18.3 million

Analyst stock ratings and share price targets: Golden Agri-Resources shares have a majority ‘hold’’ rating, alongside an average 12-month stock price target of S$0.30. (24 April 2026)

How to trade and invest in undervalued stocks with IG Singapore

CFD share trading
 

1. Create a live or demo account
2. Find an opportunity among one of our 10,000+ stocks with our  stock screener
3. Click ‘buy’ to go long or ‘sell’ to short
4. Set your position size
5. Take steps to manage your risk
6. Open and monitor your position

Investing
 

1. Open an account via IG Markets Singapore app
2. Search for undervalued SG stocks on the app
3. Choose the shares you want to buy
4. Determine how many shares you want to purchase
5. Place your order
6. Monitor your investment and collect any dividends

FAQs about undervalued stocks