Rumours overheard today and days ago from the SGX Fish market??!!

I went to the SGX Fish market and overheard many stall-owner
shouting at the top of their voice, and here is what I recalled:

GS took a look at our Property stocks and said that some need
to slim down and take a weight-loss.
GS viewed WingTai at a SELL, with TP at only $1.12
UOL was given a NEUTRAL with TP at $3.42
Capitaland was told to take a TP weight-cut to $5.20,
with City Development weight-cut to $9.10,
Keppel Land TP now at $4.66, and Allgreen not so green now with
TP become $0.90
- If the property stock price really drop to such prices, then I know
we will have a overnight buy queue, but come to think again,
maybe not many will dare to buy at a discounted price thinking
it is not cheap yet. Then you can keep on waiting, another rabbit will
get killed when it bang on the tree you are waiting beside again.
(If you know chinese idiom, you should know the meaning)

The rest of the rumours are quite messy, or maybe noisy:

For some downgrades:
CS told Saizen Reit to sim down and give it a Underperform rating,
and UBS reduced Tiong Woon TP by a big drop of about 50% to $0.58,
while BNP also follow suit and give Sim Lian a downgraded TP at $0.61

Ok, enough of bad rumours, now for some better rumours from
some Fishmongers:

Nomura said that Hyflux deserve a BUY rating now, MS also upgraded
STX to Overweight, and Macquarie also upgraded SGX to Outperform.
Lastly, HSBC upgraded CSM to Neutral. Incidentally in another rumour
overheard, HSBC's report Asian Equity Strategy report dated 22Aug said
that "Recession don't forever" and "Judging by history, the US recession
will be over before end-08"
- I don't know how true are all these rumours by all these fishmongers,
but I only know that fishes are still selling very well,
and I will visit the meat and fruit stall next time.
If you do spot a great discount bargain, do you dare to buy??

By the way, I still have not get a haircut yet, but who cares?

Rumours overheard today and days ago??!!

Overheard that GS DOWN Keppel Corp and Guccoland target price (TP),
Keppel Corp got dropped to $13, and Gucco dropped to $2.50.
CLSA follow suit and DOWN SGX and Capitacommercial Trust too,
SGX got downgraded to Underperform and become a SELL now.
Capita TP reduced to $2.29.

UBS said in their reports that they downgraded both K-Reit and Macquarie Prime Reit
to SELL, K-Reit TP become $0.93, and Prime Reit become $0.95
By the way, Macquarie also said K-reit need to slim down,
and the TP at $1.25

Citi is busier in their reports, our 3 local banks all got a SELL rating,
DBS TP at $16.75, UOB at $17.60, the smaller OCBC at $7.60
- Frankly, if they dropped further, it will be a great bargain,
because as and when the economy recovers, the banks share
will lead the charge, and the surge will be Fast and Furious.

Other stories include CapitaMall Trust become a BUY now with TP at $3.30,
but Raffles Edu got downgraded to HOLD with TP at $0.95
- I believe Raffles Edu is still in an aggressive M&A move,
they are hungry to continue expanding their student
and campus' reach, but their main issue is they need$$$,
and that will mean either incurring more debts, or as usual,
issuing new shares.
I wonder why they don't want to try to sell to OHL,
if he is in, then its share price and future will look
rosier.
Just a wild wishful thought on my side.

Big Brother Lehman also continue the cutting trend, and
this time is our beloved 2 telcos.
Starhub TP is at $3.08, and Singtel become a Equalweight now.
- Incidentally if you have read some FA books, the rating
of Equalweight is equivalent to a SELL rating,
just at a nicer-phrased word.


On a lesser note, DB said the Property company WingTai is expensive now,
so need to put the TP at $1.45 now.
- I don't really know about the stock, but I know WingTai's property
project's standard and class. This is just my view and not an advertisement!
HaHe....
ML also downgraded City Dev to Neutral.
- I know of an old-friend who is a die-hard supporter of
City Dev, not the properties, but its shares. I better ask him
how many shares he has accumulated all this years,
maybe he has become a Substantial Shareholder now??!! OMG!!

Jap Nomura securities also join in the reports and downgraded Noble
to a not-so noble TP of $2.29
-I consider Noble as a mid-cap, in the same category as Olam and
Straits Asia, and I strongly they will never become a small-cap
again even if the market keep falling down the cliff.
Frankly, the chances of them becoming a big-cap when
the market recovers is higher than it tumble down to
the hard floor.

Looking at all these CUT and Downgrade reports,
I have only one thing in my mind...........
It's time for me to get a hairCUT, and "Downgrade"
my spending on certain brands of products.