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FLOWS
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Thursday, 13 November, 2014
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BUY
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TENAGA, GENM, AMBANK
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SELL
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MAYBANK, UMW, PETGAS
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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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TM (4863)
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13/11/2014
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RM7.20
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TRIM
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BB – RM6.80
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The
stock which traditionally trades in a PE band of 17-18x, recently surged to a
high of 28x on the back of its LTE platform initiation with P1. This strategy
however will require a substantial capex program given the number of tower
sites required to set up nationwide coverage. EBITA margins which have been
on the decline are likely to be further impacted until 2017/18 when this
program is expected to bear fruit. After the past month surge in its
share price we feel that the market has already priced in most positive news
without allowing for any execution risk. We recommend a trim with a buy back
level of below RM6.80.
(DN)
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UMCCA(2593)
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13/11/2014
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RM6.77
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BUY
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RM8.00
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Currently
trading at traditional trough valuations presents a good opportunity to
accumulate this plantation counter which is in one of the best positions to
capitalize on a rebound in CPO prices. Its existing tree profile averages
around the 8 year mark with FFB production in the next two year set to jump
substantially from an additional 2000ha maturing. The premium pricing to the
sector is supported by its higher growth and age profile of its plantation
plus a decent yield of around 4%. Trading at a forward PE of 15x and yield of
4% we rate it a buy with a target price of RM8.00.
(DN)
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Calls for NOV WEEK 1 / WEEK 2
2014
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STOCK
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Initiation
Dates
|
Initiation
price
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BUY/SELL
|
TARGET
PRICE
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LAST PRICE
|
% Change
since Initiated
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PARKSON (5657)
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5/11/2014
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RM2.52
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BUY
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RM3.10
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RM2.44
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-3.2%
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SIME (4197)
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5/11/2014
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RM9.68
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BUY
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RM10.50
|
RM9.61
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-0.8%
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KPS (5843)
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7/11/2014
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RM1.75
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TAKE PROFIT
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RM1.58
|
RM1.67
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-4.6%
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SKPETRO (5218)
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7/11/2014
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RM3.14
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BUY
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RM3.75
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RM3.09
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-1.6%
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E&O(3417)
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10/11/2014
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RM2.55
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ACCUMULATE
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RM3.36
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RM2.47
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-3.2%
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KIMLUN (5171)
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10/11/2014
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RM1.42
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SELL
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-
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RM1.42
|
0.0%
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SUNWAY (5211)
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11/11/2014
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RM3.19
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ACCUMULATE
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RM3.70
|
RM3.17
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-0.7%
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BJAUTO(5248)
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11/11/2014
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RM3.25
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ACCUMULATE
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RM4.00
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RM3.44
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+5.8%
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DAYANG (5141)
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12/11/2014
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RM2.82
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ACCUMULATE
|
RM3.30
|
RM2.81
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-0.4%
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SEM (5250)
|
12/11/2014
|
RM1.66
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TRIM
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-
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RM1.68
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+1.2%
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Performance
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Positive
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Negative
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Neutral
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