MMMORNING CALL !! 28 February 2012
FLOWS;
BUYS: PChem, CIMB, IJM
SELLS: KNM, Maybank, MSM, Benalec
Technical Stock Alert;
GENTING (RM10.44) - Price continues to trade in a narrow range between RM11.00-RM10.20. Currently it is on the downtrend again as investors square positions ahead of results this evening. Assuming no negative shocks in tonight's numbers we continue to advocate a buy into weakness especially around RM10.30, and to trade back out above RM10.80.
SOZO (RM0.595) - Since the announcement of its 3Q numbers, its share price has been on the steady rise, touching a high of RM0.66. Ready to serve food products continue to be its main earnings driver with plans of setting up halal processing plants providing an immediate new business stream. Minimum down side risk, trading at only 2.4x PE. A move above the RM0.63 could see it test the immediate target of RM0.70.
Buy Stock of the Day;
PERDANA (RM).745)
Yesterday Dayang +5%, penergy +8% may pull perdana higher as stk has been consolidating around 75c lvl since beg of 2012. Dayang recently bought 10% of Perdana. Awaiting announcements of synergistic benefits as Dayang will help increase utilization rate of Perdana's vessels which currently stands around 70%. Oustanding is possibility of Perdana hiving off its 26.9% stake in penergy.- Trading buy for possible breakout from current range to 85c target.