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FLOWS
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Tuesday, 25 November, 2014
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BUY
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CIMB, SKPETRO, SIME
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SELL
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MISC, PCHEM, TM
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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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UZMA (7250)
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25/11/2014
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RM2.50
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TRADING BUY
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RM3.00
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Among the biggest loser in recent selldown of
O&G names, falling 35% from Oct high of RM3.84. RSI remains in oversold
territory of 26%. Fibonacci 38% retracement from its low of RM2.35 and recent
high of RM3.60 indicates an immediate potential upside of RM2.83 (13%).
Earnings will be supported by its orderbook of RM1.9bn and tenderbook of over
RM3bn. 2H earnings is expected to be strong underpinned by contribution from
its RSC consortium’s capex expenses (USD40-50m) and newly acquired companies
such as MMSVS and Premier Enterprise. First oil from its Tanjung Baram RSC is
expected in 2Q2015. UZMA currently trades at 9.9xFY15 PER vs its 5 years
historical average 19x. Given its high earnings growth forecast of 20-30% in
the next 2 years we believe valuation is undemanding. Trading buy with TP:
RM3.00 (12xFY15)
(TYK)
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ARMADA (5210)
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25/11/2014
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RM1.26
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ACCUMULATE
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RM1.50
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Share price appears to have found its bottom,
consolidating for past 1 week around the RM1.40 level after falling 41% from
RM2.40 in May. Current orderbook stands at RM21.8bn with bulk of its earnings
coming from FPSOs which are long-term locked-in contracts. Madura contract is
also expected to be finalised by year end. Group is now eyeing for four FPSO
projects - one each in Ghana, Nigeria, Namibia and Angola. Now trades at
15.5xFY15 PER vs historical of 27x. Accumulate with TP: RM1.80 (20xPER)
(TYK)
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Calls for NOV WEEK 2 | WEEK 3
2014
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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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FABER (1368)
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17/11/2014
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RM2.99
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ACCUMULATE
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RM3.30
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RM2.83
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-5.4%
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WTK (4243)
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17/11/2014
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RM1.21
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ACCUMULATE
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RM1.36
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RM1.21
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0.0%
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PRESBHD(5204)
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18/11/2014
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RM1.51
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ACCUMULATE
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RM1.84
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RM1.55
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+2.6%
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SUPERMX(7106)
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18/11/2014
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RM2.02
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Trading BUY
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RM2.40
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RM2.07
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+2.4%
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MRCB (1651)
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19/11/2014
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RM1.50
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ACCUMULATE
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RM2.00
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RM1.51
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+0.6%
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OCK (0172)
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19/11/2014
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RM0.95
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BUY
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RM1.70
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RM0.95
(ex)
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0.0%
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SPRITZER(7103)
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20/11/2014
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RM2.08
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ACCUMULATE
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RM2.40
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RM2.06
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-1.0%
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DIALOG(7277)
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20/11/2014
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RM1.50
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ACCUMULATE
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RM1.70
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RM1.70
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+13.3%
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AMBANK(1015)
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21/11/2014
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RM6.58
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ACCUMULATE
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RM7.50
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RM6.60
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+0.3%
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CSCENIC(7202)
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21/11/2014
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RM1.26
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ACCUMULATE
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RM1.50
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RM1.23
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-2.4%
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Performance
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Positive
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Negative
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Neutral
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