Market talk for the week (14 June)

Market talk for the week (14 June)

18 Jun 2021

What happened in markets this week, and what are analysts talking about?

Marco Polo Marine

RHB; Initiate with BUY and TP S$0.041 The house believes that Marco Polo Marine's diversification into servicing the renewable energy sector will bear fruit in the next 1-2 years. In the meantime, the oil & gas sector remains a major source of income with earnings expected to rebound in the next 2-3 years. Stock price is also currently trading below its greatly impaired NAV and white knights' and creditor's entry price of S$0.032-0.033. 


CIMB; Maintain Add and raise TP to S$2.19. The House deemed SPH as an integrated real estate owner with a quality portfolio worth at least S$6.7b with S$1.2b non-core assets for recycling, and is trading at an attractive P/B of 0.8x vs peers 2.5x 

Regional Aviation

DBS: The house sees a 15-20% permanent decline in corporate travel requirements in the future, with airlines and airport hubs that built their business around corporate travel to be the laggards coming out of COVID-19. Less positive on Cathay Pacific and Beijing Capital Airport

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