Phillip Securities Research – Singapore Stocks Coverage

Company Analyst Last report Rating Target Price($) Price($) Upside to TP(%)
17LIVE GROUP Liu Miaomiao 13-Oct-25 BUY 1.45 1.08 34.26
361 DEGREES INT Margaret Li 22-Dec-25 BUY 7.47 - -
A Sonic Aerospace Limited 16-Mar-22 NON RATED - -
Aac Technologies Holdings Inc Samuel Sung 26-Nov-21 ACCUMULATE 38.35 - -
Adobe Alif Fahmi 15-Dec-25 BUY 487.00 - -
Advanced Info Service Public Company Limited - ADVANC Phillip Research Team (Thailand) 23-Sep-24 BUY 1.29 -
Advanced Micro Devices Yik Ban Chong (Ben) 7-Nov-25 ACCUMULATE 280.00 - -
Advanced Systems Yik Ban Chong (Ben) 23-Oct-24 NON RATED - -
Airbnb Alif Fahmi 10-Nov-25 NEUTRAL 127.00 - -
Alibaba Megan Tao 27-Aug-25 ACCUMULATE 144 - -
Alibaba - RMB Eric Li 26-Oct-23 BUY 118.95 - -
Alliance Healthcare Group 16-Feb-22 REDUCE 0.118 -
Alphabet-C Serena Lim Yi Qi 3-Nov-25 BUY 340.00 - -
Amazon Helena Wang 3-Nov-25 ACCUMULATE 290.00 - -
AOT TH SDR Phillip Research Team (Thailand) 10-Oct-24 BUY 2.26 -
APAC Realty Paul Chew 17-Aug-20 NEUTRAL 0.365 0.585 -37.61
Apple Inc Helena Wang 4-Nov-25 REDUCE 230.00 - -
AppLovin - A Serena Lim Yi Qi 12-Nov-25 ACCUMULATE 750.00 - -
ARM Holdings - ADR Phillip Research Team 13-Sep-23 NON RATED - -
Ascendas Reit 14-Feb-22 BUY 3.52 2.79 26.16
Ascott Reit 29-Jul-20 BUY 1.080 - -
Asian Pay Tv Tr Paul Chew 21-Nov-22 BUY 0.130 0.104 25.00
ASM Pacific Technologly Ltd Eric Li 7-Jun-22 ACCUMULATE 85.25 - -
AvePoint Helena Wang 23-Sep-25 NON RATED 17.52 -
Baguio Green Eric Li 14-Jan-25 BUY 0.98 - -
Baguio Green Margaret Li 11-Nov-25 BUY 1.55 - -
Baguio Green Group Ltd Eric Li 25-Nov-22 BUY 0.67 - -
Bank of America Glenn Thum 21-Oct-25 ACCUMULATE 56.00 - -
Bank Of China Megan Tao 14-Jan-25 ACCUMULATE 4.43 - -
BHG Retail Reit 2-Mar-22 NON RATED 0.44 -
Binhai Investment Eric Li 13-Sep-23 BUY 2.20 - -
Block Inc. Ambrish Shah 14-Nov-24 BUY 105.00 - -
BRC Asia Yik Ban Chong (Ben) 1-Dec-25 BUY 5.10 4.17 22.30
BYD Co. Ltd Zhang Jing 20-Nov-24 REDUCE 337 - -
CapitaCom Trust 27-Jul-20 ACCUMULATE 1.909 - -
CapitaLand 2-Mar-21 BUY 3.75 - -
CapitaLand Ascott Trust Darren Chan 30-Oct-25 ACCUMULATE 1.05 0.945 11.11
CapitaLand Investment Limited Darren Chan 10-Nov-25 BUY 3.65 2.7 35.19
CapitaMall Trust 9-May-22 BUY 2.46 2.36 4.24
Cathay Pacific Airways Zhang Jing 17-Dec-25 ACCUMULATE 79228 - -
Centurion Yik Ban Chong (Ben) 17-Nov-25 BUY 1.81 1.31 38.17
China Aviation Oil (Singapore) Corporation Ltd Liu Miaomiao 18-Aug-25 BUY 1.50 1.62 -7.41
China Literature Elvis Kwok 28-Jun-23 NEUTRAL 36.20 - -
China Mobile HK Eric Li 21-May-25 REDUCE 81.66 - -
China Oilfield Margaret Li 30-Jul-24 ACCUMULATE 7.51 - -
China Power International Dev Margaret Li 9-Nov-23 ACCUMULATE 3.46 - -
China Resources Pharmaceutical Group Limited Phillip (HK) Research Team 25-May-22 ACCUMULATE 54.95 - -
China Risun Group Margaret Li 12-Nov-25 REDUCE 3.13 - -
China Unicom Eric Li 3-Jun-25 NEUTRAL 9.19 - -
Chow Tai Fook Jewellery Group Limited Eric Li 5-Sep-22 NEUTRAL 15.52 - -
CityDev Darren Chan 20-Nov-25 ACCUMULATE 8.34 8.05 3.60
Clearbridge Phillip Research Team 31-Aug-20 BUY 0.26 0.002 12,900.00
CMGE Technology Group Elvis Kwok 24-May-23 BUY 3.00 - -
CMOC Group Limited Margaret Li 18-Jun-25 ACCUMULATE 7.31 - -
CNMC Goldmine Liu Miaomiao 3-Oct-25 BUY 1.34 1.08 24.07
ComfortDelGro Paul Chew 17-Nov-25 ACCUMULATE 1.62 1.47 10.20
Cosco Shipping Margaret Li 28-May-24 ACCUMULATE 12.72 - -
CP ALL TH SDR Phillip Research Team (Thailand) 27-Sep-24 BUY 1.89 -
CSOP iEdge SREIT ETF S$ Helena Wang 21-Nov-25 ACCUMULATE 0.815 0.782 4.22
Dasin Retail Tr 7-Dec-20 BUY 0.900 0.02 4,400.00
DBS Glenn Thum 7-Nov-25 ACCUMULATE 58.00 56.3 3.02
Del Monte Pac Paul Chew 15-Mar-23 BUY 0.400 0.098 308.16
Dongfeng Zhang Jing 29-Oct-21 BUY 12.00 - -
EC World Reit 15-May-20 BUY 0.770 0.28 175.00
Elite UK REIT Liu Miaomiao 1-Aug-25 BUY 0.39 0.36 8.33
Enn Energy Holdings Margaret Li 16-Jul-25 ACCUMULATE 72.86 - -
Ever Glory Yik Ban Chong (Ben) 12-Aug-25 BUY 0.81 0.745 8.72
Far East HTrust Liu Miaomiao 31-Jul-25 BUY 0.70 0.605 15.70
First Reit Darren Chan 5-Nov-25 ACCUMULATE 0.31 0.275 12.73
First Sponsor Terence Chua 2-Nov-22 ACCUMULATE 1.390 1.03 34.95
Flat Glass Group Zhang Jing 19-Nov-25 REDUCE 14.4 - -
Food Empire Paul Chew 5-Sep-23 NON RATED 2.4 -
Fortress Minerals 4-May-22 BUY 0.660 0.23 186.96
Fortress Minerals Ltd 19-Jan-22 ACCUMULATE 0.500 - -
Frasers Cpt Tr Darren Chan 27-Oct-25 ACCUMULATE 2.74 2.31 18.61
Frasers Property Darren Chan 8-Dec-25 NON RATED 1.14 -
Frencken Yik Ban Chong (Ben) 19-Nov-25 BUY 1.87 1.39 34.53
FSE Lifestyle Services Eric Li 31-Jan-24 ACCUMULATE 6.45 - -
Fuyao Glass Industry Group Zhang Jing 10-Nov-25 ACCUMULATE 80.8 - -
Geely Automobile Holdings Limited Zhang Jing 26-Aug-25 BUY 24.30 - -
Geo Energy Res Paul Chew 26-Nov-25 BUY 0.59 0.425 38.82
Giant Biogene Margaret Li 7-Oct-25 ACCUMULATE 73.72 - -
Global X Lithium & Battery Tech ETF Louis Tan 4-Jan-22 REDUCE - -
GOOGLE inc. Serena Lim Yi Qi 8-Sep-25 ACCUMULATE 265.00 - -
Grab - A Helena Wang 10-Nov-25 BUY 7.00 - -
Great Wall Motor Company Limited Zhang Jing 8-Dec-22 BUY 14.10 - -
Guangzhou Automobile Group Co Ltd Zhang Jing 15-Feb-22 BUY 22.00 - -
Gulf Energy Development Public Co. Ltd Phillip Research Team (Thailand) 23-Sep-24 BUY - -
Haichang Ocean Park Holdings Ltd Zhang Jing 26-Jul-23 BUY -0.5 - -
Hengan International Group Company Ltd Eric Li 10-Jun-24 BUY 35.18 - -
Hengyang Petro Paul Chew 29-Aug-22 BUY 0.430 0.15 186.67
Hong Kong Exchanges and Clearing Limited Eric Li 22-Apr-22 BUY 464.70 - -
HRnetGroup Paul Chew 19-Aug-25 ACCUMULATE 0.78 0.74 5.41
Hua Hong Semiconductor Megan Tao 25-Feb-25 ACCUMULATE 30.30 - -
Hyphens Pharma Paul Chew 25-Aug-25 BUY 0.40 0.345 15.94
IFAST Zane Aw 27-Mar-25 TRADING BUY 9.5 -
Intron Technology Zhang Jing 8-Sep-23 ACCUMULATE 4.15 - -
IREIT Global 1-Mar-21 ACCUMULATE 0.700 0.295 137.29
IX Biopharma Paul Chew 3-Oct-22 BUY 0.250 0.118 111.86
Jason Marine Phillip Research Team 15-Jul-19 NON RATED 0.141 -
JD.com Inc Megan Tao 15-Apr-25 BUY 200.30 - -
JEP Paul Chew 21-Aug-20 REDUCE 0.158 0.27 -41.48
Jiangxi Copper Margaret Li 6-Aug-25 ACCUMULATE 18.22 - -
JNBY Design Eric Li 19-Mar-24 NEUTRAL 15.27 - -
JPMorgan Chase & Co Glenn Thum 21-Oct-25 NEUTRAL 305.00 - -
Karrie International Eric Li 25-Feb-25 ACCUMULATE 0.98 - -
KBank TH SDR Phillip Research Team (Thailand) 27-Sep-24 ACCUMULATE 7.95 -
Keppel Corp Paul Chew 3-Nov-25 BUY 12.20 10.35 17.87
Keppel DC Reit Darren Chan 27-Oct-25 NEUTRAL 2.40 2.21 8.60
Koda Paul Chew 5-Sep-22 NEUTRAL 0.50 0.26 92.31
Koufu Terence Chua 6-Sep-21 NEUTRAL 0.640 - -
Kuaishou Technology Megan Tao 21-Jul-25 ACCUMULATE 73.00 - -
L'Occitane International S.A. Eric Li 31-Oct-22 BUY 25.89 - -
Laopu Gold Margaret Li 27-Oct-25 ACCUMULATE - -
Lee & Man Paper Manufacturing Limited Eric Li 15-Nov-22 BUY 3.70 - -
Lendlease Reit Liu Miaomiao 6-Aug-25 BUY 0.70 0.615 13.82
LHN Paul Chew 8-Dec-25 BUY 0.85 0.66 28.79
Lian Beng 26-Jan-22 NON RATED - -
LION-PHILLIP S-REIT Helena Wang 31-Oct-25 ACCUMULATE 0.965 0.867 11.30
ManulifeReit USD 11-May-22 BUY 0.86 0.072 1,094.44
Mao Geping Cosmetics Margaret Li 17-Sep-25 ACCUMULATE 108.52 - -
Meituan - RMB Megan Tao 16-Sep-25 ACCUMULATE 118.30 - -
Meituan - W Megan Tao 16-Sep-25 ACCUMULATE 118.30 - -
Memiontec Hldgs Phillip Research Team 13-May-24 NON RATED 0.011 -
META Platforms Serena Lim Yi Qi 3-Nov-25 ACCUMULATE 770.00 - -
Micro-Mechanics Paul Chew 8-Feb-21 NEUTRAL 3.35 1.61 108.07
Microsoft Corporation Alif Fahmi 5-Nov-25 ACCUMULATE 540.00 - -
Minth Group Zhang Jing 5-Nov-25 ACCUMULATE 32.60 - -
MM2 Asia Paul Chew 15-Feb-21 NON RATED 0.003 -
NetDragon Megan Tao 18-Nov-25 ACCUMULATE 14.1 - -
Netease Inc Phillip (HK) Research Team 9-Nov-22 BUY 98.70 - -
Netflix Inc Helena Wang 23-Oct-25 SELL 950.00 - -
NetLink NBN Tr Paul Chew 5-Nov-25 NEUTRAL 0.93 0.955 -2.62
NikkoAM-STC Asia REIT Helena Wang 26-Nov-25 ACCUMULATE 0.84 0.827 1.57
Nongfu Spring Co Ltd Phillip (HK) Research Team 14-Dec-21 BUY 64.59 - -
Nvidia Yik Ban Chong (Ben) 24-Nov-25 ACCUMULATE 200.00 - -
OCBC Bank Glenn Thum 10-Nov-25 NEUTRAL 17.00 19.78 -14.05
Oiltek Paul Chew 4-Aug-25 BUY 1.18 0.665 77.44
Oracle Alif Fahmi 15-Dec-25 BUY 344.00 - -
Oriental Watch Holdings Ltd Eric Li 9-May-23 ACCUMULATE 5.14 - -
OUE Com Reit Hashim Osman 9-Dec-25 BUY 0.40 0.355 12.68
OUE REIT Phillip Research Team 25-Jul-25 BUY 0.40 1.19 -66.39
Pacific Radiance Paul Chew 27-Aug-25 BUY 0.098 0.102 -3.92
PanUnited Yik Ban Chong (Ben) 18-Aug-25 BUY 1.34 1.13 18.58
Paypal Holdings Inc Ambrish Shah 1-Nov-24 ACCUMULATE 90 - -
Penguin Intl Paul Chew 3-Jun-20 ACCUMULATE 0.550 1.28 -57.03
Perfect Medical Eric Li 2-Jan-24 BUY 4.37 - -
PHIL AP DIV REIT US$ Helena Wang 28-Nov-25 ACCUMULATE 1.29 0.922 39.91
Phillip Sing Income ETF Helena Wang 23-Oct-25 ACCUMULATE 1.590 1.465 8.53
Plover bay Technologies Eric Li 24-Mar-25 ACCUMULATE 6.58 - -
Pop Mart International Group Limited Megan Tao 12-Aug-25 ACCUMULATE 316 - -
PRIME US REIT USD Darren Chan 13-Nov-25 BUY 0.30 0.2 50.00
Property Guru Maximilian Koeswoyo 6-Mar-23 ACCUMULATE 5.20 - -
propnex Paul Chew 27-Feb-25 BUY 1.33 - -
PropNex Paul Chew 13-Aug-25 BUY 2.02 1.88 7.45
PTTEP TH SDR Phillip Research Team (Thailand) 25-Sep-24 BUY 4.58 -
Q&M Dental Paul Chew 20-Aug-25 BUY 0.545 0.525 3.81
Raffles Medical Paul Chew 31-Jul-25 NEUTRAL 1.02 1.02 0.00
Resources Gbl Peggy Mak 11-Mar-24 NON RATED - -
Robosense Technology Zhang Jing 28-Mar-25 ACCUMULATE 48 - -
Salesforce Inc Alif Fahmi 8-Dec-25 BUY 382.00 - -
Santak Paul Chew 14-Nov-22 ACCUMULATE 1.15 0.08 1,337.50
Sasseur Reit Liu Miaomiao 16-May-25 BUY 0.78 0.68 14.71
Sasseur REIT Liu Miaomiao 15-Aug-25 BUY 0.78 0.68 14.71
SATS Hashim Osman 19-Dec-25 NEUTRAL 3.84 3.77 1.86
Sea Ltd Helena Wang 17-Nov-25 BUY 170.00 - -
Sembcorp Ind Paul Chew 15-Dec-25 BUY 7.10 6 18.33
Semiconductor Manufacturing Megan Tao 3-Nov-25 ACCUMULATE 87 - -
SGX Glenn Thum 11-Aug-25 ACCUMULATE 16.90 17.26 -2.09
Shanghai Chicmax Cosmetic Margaret Li 8-Sep-25 ACCUMULATE 100 - -
Sheng Siong Paul Chew 3-Nov-25 ACCUMULATE 2.55 2.6 -1.92
Shopify -A Helena Wang 13-Nov-25 NEUTRAL 155.00 - -
SIA Engineering Hashim Osman 12-Nov-25 ACCUMULATE 4.14 3.55 16.62
Siam Cement Public Co. Ltd Phillip Research Team (Thailand) 23-Sep-24 ACCUMULATE 0.75 -
Silverlake Axis Glenn Thum 29-Aug-24 NON RATED - -
Singapore Airlines Hashim Osman 24-Nov-25 NEUTRAL 6.04 6.4 -5.63
Singapore Telecommunications Ltd Paul Chew 17-Nov-25 ACCUMULATE 5.35 4.55 17.58
Sinotruk Hong Kong Ltd Zhang Jing 14-Feb-24 BUY 24.10 - -
Soilbuild Const Yik Ban Chong (Ben) 29-Sep-25 BUY 3.41 3.36 1.49
Southern Pkg 23-May-22 NON RATED 0.28 -
Spotify Helena Wang 10-Nov-25 ACCUMULATE - -
ST Engineering Paul Chew 13-Nov-25 NEUTRAL 8.200 8.35 -1.80
StarHub Paul Chew 17-Nov-25 NEUTRAL 1.05 1.12 -6.25
Stoneweg European Stapled Trust Darren Chan 10-Nov-25 BUY 1.86 1.62 14.81
Straits Trading Phillip Research Team 12-Jun-19 NON RATED 1.6 -
Sunny Optical Megan Tao 17-Mar-25 ACCUMULATE 97.32 - -
Suntec Reit Darren Chan 3-Nov-25 ACCUMULATE 1.40 1.43 -2.10
TDCX Inc Jonathan Woo 23-Nov-23 BUY 8.60 - -
TeleChoice Intl Paul Chew 20-Nov-25 BUY 0.215 0.172 25.00
Tencent Holdings Megan Tao 17-Sep-25 ACCUMULATE 682 - -
Tencent Music Entertainment - A Megan Tao 28-Jul-25 ACCUMULATE 96 - -
Tesla Glenn Thum 28-Oct-25 SELL 220.00 - -
ThaiBev Paul Chew 1-Dec-25 ACCUMULATE 0.53 0.455 16.48
Thakral Darren Chan 24-Nov-25 BUY 2.12 1.61 31.68
THE HONG KONG AND CHINA GAS CO LTD Margaret Li 25-Mar-25 ACCUMULATE 6.90 - -
Thomson Medical Group Paul Chew 3-Sep-25 BUY 0.074 0.058 27.59
Tianli International Eric Li 15-May-24 ACCUMULATE 6.01 - -
Topsports International Holdings Limited Eric Li 6-Feb-25 ACCUMULATE 3.36 - -
Trip.com Group Megan Tao 8-Oct-25 NEUTRAL 610 - -
UG Healthcare Paul Chew 30-Aug-22 NEUTRAL 0.200 0.096 108.33
Uni-Asia Grp Paul Chew 16-Jun-23 ACCUMULATE 0.94 0.855 9.94
UOB Glenn Thum 7-Nov-25 NEUTRAL 30.40 35.03 -13.22
Valuetronics Paul Chew 17-Nov-25 BUY 0.96 0.855 12.28
Venture Paul Chew 17-Nov-25 NEUTRAL 13.00 15.24 -14.70
Vertex Technology Acquisition Corporation Ltd Paul Chew 20-Nov-23 REDUCE - -
Vinda International Eric Li 14-Aug-23 SELL 9.78 - -
Vitasoy International Holdings Eric Li 11-Mar-25 BUY 11.66 - -
Wee Hur Yik Ban Chong (Ben) 25-Aug-25 BUY 0.90 0.755 19.21
Weichai Power Zhang Jing 6-Feb-25 BUY 17.97 - -
Wells Fargo & Co Glenn Thum 21-Oct-25 ACCUMULATE 95.00 - -
Wilmar Intl Liu Miaomiao 21-May-25 NON RATED 3.09 -
Wing Tai Paul Chew 24-Oct-19 NON RATED 1.45 -
XD Inc Elvis Kwok 12-Dec-22 BUY 27.31 - -
Xiaomi Corp Megan Tao 25-Jun-25 ACCUMULATE 60 - -
Xinyi Energy Holdings Ltd Eric Li 7-Jul-22 ACCUMULATE 4.74 - -
Xinyi Glass Zhang Jing 10-Sep-25 ACCUMULATE 9.20 - -
Xinyi Solar Holdings Zhang Jing 14-May-24 BUY 7.26 - -
Xtep International Eric Li 14-Jun-23 ACCUMULATE 9.61 - -
Xtep International Eric Li 7-Nov-24 BUY 8.20 - -
Yankuang Energy Margaret Li 28-Apr-25 ACCUMULATE 8.48 - -
Yoma Strategic Paul Chew 18-Dec-25 NON RATED 0.081 -
Yue Yuen Industrial Holding Eric Li 25-Nov-24 ACCUMULATE 20 - -
Yum China Holdings, Inc Eric Li 6-Nov-24 NEUTRAL 337.00 - -
Zhaojin Mining Industry Co Ltd Margaret Li 19-Feb-25 ACCUMULATE 15.58 - -
Zhongsheng Group Holdings Limited Zhang Jing 23-Aug-21 BUY 99.00 - -
Zixin Group Holdings Limited Serena Lim Yi Qi 28-Nov-25 BUY 0.055 0.036 52.78

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