Reuters: Hot Stocks: STOCKS NEWS SINGAPORE-Maybank upgrades Far East Orchard to 'buy'

Reuters: Hot Stocks Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

STOCKS NEWS SINGAPORE-Maybank upgrades Far East Orchard to 'buy' Sep 17th 2012, 02:45 Sun Sep 16, 2012 10:45pm EDT Maybank Kim Eng upgraded property firm Far East Orchard Ltd to 'buy' from 'hold' and raised its target price to S$2.82 from S$2.37, on expectations it will bid for more land or acquire more yield-accretive properties. Shares of Far East Orchard were up 3.1 percent at S$2.36, and have jumped 84 percent so far this year, compared with the FT ST Consumer Services Index's 3.8 percent rise. Far East Orchard, formerly known as Orchard Parade Holdings, was restructured two months ago, which saw it acquire a 33 percent stake in the trustee and real estate investment trust managers of Far East Hospitality Trust, thus improving its recurring income stream, Maybank said. Far East Orchard, which owns medical suites in Singapore, will benefit from the growth in medical tourism there, helped by demand from an ageing population and rising affluence. The company could also acquire Scotts Medical Centre next year after refurbishment works are completed, further expanding its healthcare exposure. 1033 (0233 GMT) (Reporting by Charmian Kok in Singapore; charmian.kok@thomsonreuters.com) ************************************************************ 9:56 STOCKS NEWS SINGAPORE-CIMB downgrades Tiger Airways to 'neutral' CIMB Research downgraded Tiger Airways to 'neutral' from 'outperform' and cut its target price to S$0.81 from S$0.90 as tougher competition in Australia and higher fuel prices could delay it from turning profitable. By 0940 GMT, Tiger shares were 0.7 percent higher at S$0.745, and have gained 17.3 percent so far this year, compared to the FT ST Consumer Services Index's 3.2 percent rise. "Tiger's fortunes ride on Tiger Australia breaking even, which could be delayed by pressure from the ongoing Qantas-Virgin rivalry," said CIMB. The brokerage expects bigger losses for Tiger in fiscal 2013 and cut its 2014-15 earnings per share estimate by 6 percent to reflect lower yields and losses in Philippines-based unit SEAIR. The next few years are expected to be capital intensive for Tiger as it bears lease rentals on behalf of its associates until they turn profitable, said CIMB. "While Australia's outlook seems challenging, Tiger Australia should still be able to regain profitability in 2014" due to encouraging advance bookings and improving load factors, said CIMB. 0939 (0139 GMT) (Reporting by Charmian Kok in Singapore; charmian.kok@thomsonreuters.com) Link this Share this Digg this Email Reprints

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions