Broker: OCBC Group Research
Date of Report: 21 July 2026

Excerpt from OCBC Group Research report.

Report Summary

• Parkway Life REIT (PREIT SP)
  Action: BUY
  Target Price: SGD 4.80
  Key Idea: OCBC maintains a BUY rating on Parkway Life REIT, emphasizing its stable yield profile and defensive asset base in the healthcare REIT segment. The repeated reiteration of the target price (SGD 4.80) reflects conviction in the trust’s fundamentals and growth outlook.
• China State Construction Intl (3311 HK)
  Action: BUY
  Target Price: HKD 9.18
  Key Idea: OCBC highlights the company as a beneficiary of Hong Kong’s infrastructure boom, expecting strong order flows and earnings growth.
• China Railway Group (390 HK, 601390 CH)
  Action: BUY
  Target Prices: HKD 4.19 / CNY 5.45
  Key Idea: The broker expects an infrastructure rebound in 2H26 and sees upside for the stock based on sector recovery.
• OUE REIT (OUEREIT SP)
  Action: BUY
  Target Price: SGD 0.41
  Key Idea: OCBC sees value after recent developments at Changi Airport, supporting a positive outlook for the REIT.
• SATS Ltd (SATS SP)
  Action: BUY
  Target Price: SGD 4.20
  Key Idea: OCBC sees a positive risk-reward as the company navigates an air pocket, maintaining a buy stance.
• Seatrium Limited (STM SP)
  Action: BUY
  Target Price: SGD 2.79
  Key Idea: OCBC highlights new order wins as a catalyst for further upside.
• CapitaLand Ascott Trust (CLAS SP)
  Action: BUY
  Target Price: SGD 0.95
  Key Idea: The trust is seen as executing opportunistic divestments, which could unlock value.
• Boustead Singapore (BOCS SP)
  Action: BUY
  Target Price: SGD 2.67
  Key Idea: Investors are encouraged to look beyond near-term noise due to strong underlying fundamentals.
• Frasers Logistics & Commercial Trust (FLT SP)
  Action: BUY
  Target Price: SGD 1.07
  Key Idea: The trust’s debt headroom is expected to support further growth.
• Singapore Telecommunications (ST SP)
  Action: BUY
  Target Price: SGD 5.75
  Key Idea: OCBC maintains a positive long-term outlook on the company’s growth trajectory.

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