Broker Name: OCBC Group
Date of Report: 22 May 2026

Excerpt from OCBC Group report.

Report Summary

• NetLink NBN Trust (NETLINK SP):
  Action: BUY
  Target Price: SGD 1.12
  Key Idea: OCBC expects steady dividend growth, highlighting NetLink NBN Trust as a reliable income play.
• Thai Beverage (THBEV SP):
  Action: BUY
  Target Price: SGD 0.55
  Key Idea: Lower raw material costs are seen as tailwinds for Thai Beverage, supporting the BUY call.
• ComfortDelGro Corporation (CD SP):
  Action: BUY
  Target Price: SGD 1.57
  Key Idea: Despite being “off track,” OCBC maintains a BUY, suggesting recovery potential.
• Keppel Infrastructure Trust (KIT SP):
  Action: BUY
  Target Price: SGD 0.580
  Key Idea: Trust is resilient despite challenges, with a BUY maintained.
• Singapore Airlines (SIA SP):
  Action: HOLD
  Target Price: SGD 6.65
  Key Idea: SIA is “playing the long game”; OCBC advises HOLD for now.
• United Overseas Bank Ltd (UOB SP):
  Action: BUY
  Target Price: SGD 41.00
  Key Idea: Wealth management is highlighted as a key growth driver.
• Mapletree Logistics Trust (MLT SP):
  Action: BUY
  Target Price: SGD 1.36
  Key Idea: Value has re-emerged; OCBC upgrades to BUY.
• Frasers Logistics & Commercial Trust (FLT SP):
  Action: BUY
  Target Price: SGD 1.05
  Key Idea: Trust is “primed for an upgrade,” BUY maintained.
• Bumitama Agri Ltd (BAL SP):
  Action: BUY
  Target Price: SGD 2.20
  Key Idea: Positive outlook with everything “coming up roses.”

above is an excerpt from a report by OCBC Group. Clients of OCBC Group can be the first to access the full report from the OCBC Group website : https://www.ocbc.com/