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FLOWS
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Monday, 29 April 2013
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BUY
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MAYBANK, PCHEM, AFFIN
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SELL
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BJTOTO, MRCB, ASTRO
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STOCK ALERT
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STOCK NAME
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DATE
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PRICE
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BUY/SELL
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TARGET PRICE
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TENAGA(5347)
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29/4/2013
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RM7.83
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TRIM
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RM7.30
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Stock
has been an out performing bluechip particularly reflected in the two months
surging from its consolidation levels of RM6.80 to a recent high of RM8.03.
Price run up has been fuelled by lower cost in coal which has since reflected
in strong 2Q numbers. Uncertainty of the fuel cost pricing mechanism and
delay in the new gas supply from Melaka could derail the current bullish
trend. With foreign shareholdings at its 5 year high of 18.7% and technical
MACD just beginning to cut downwards, we advocate trimming ahead of GE13 with
a buy back target at around RM7.30 and below.
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SPSETIA(8664)
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29/4/2013
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RM3.30
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ACCUMULATE
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RM4.40
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Recent
sell down from this year’s high of RM3.59 provides the opportunity to
accumulate the stock at immediate support levels. The sell down could be
possibly attributed to its perceived weak 1Q numbers but note that the 1Q is
seasonally its weakest qtr. We take comfort from its substantial unbilled
sales of RM6.3bn and also the successful launch of 1 Phase Battersea project.
Uncertainty over a succession plan has also been addressed with Datuk Teow
(current CFO) being named the successor to Tan Sri Liew. Accumulate with a
medium term target of RM4.40 based on a PE of 18x (2014 earnings).
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Calls for APRIL Week 3-4
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STOCK
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Initiation Dates
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Initiation price
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BUY/SELL
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TARGET
PRICE
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LAST PRICE
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% Change since Initiated
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TCHONG(4405)
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22/4/2013
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RM5.61
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Take Profit
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RM5.05
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RM5.55
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-1.0%
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MAHSING(8583)
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22/4/2013
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RM2.28
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BUY
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RM3.00
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RM2.32
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+1.7%
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SKPETRO(5218)
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23/4/2013
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RM3.10
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BUY on weakness
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RM3.80
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RM3.02
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-2.6%
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TOPGLOV(7113)
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23/4/2013
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RM6.09
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Take Profit
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RM5.50
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RM6.15
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+0.9%
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AMMB(1015)
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24/4/2013
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RM6.52
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ACCUMULATE
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RM7.30
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RM6.72
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+3.5%
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IJMLAND(5215)
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24/4/2013
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RM2.55
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BUY on weakness
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RM3.00
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RM2.59
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+1.6%
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BHIC(8133)
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25/4/2013
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RM2.20
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ACCUMULATE
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RM2.53
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RM2.15
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-2.3%
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MRCB(1651)
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25/4/2013
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RM1.38
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BUY on weakness
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RM1.68
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RM1.37
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-0.7%
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MUHIBAH(5703)
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26/4/2013
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RM1.12
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ACCUMULATE
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RM1.60
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RM1.12
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0.0%
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MAYBULK(5077)
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26/4/2013
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RM1.53
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BUY on weakness
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RM1.80
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RM1.49
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-2.6%
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Monday, April 29, 2013
Morning Call | 29 April 2013
