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LOWS
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Thursday, 25 July, 2013
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BUY
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SIME, ARMADA, YTL
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SELL
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UNISEM, MAYBANK,
MRCB
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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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AMBANK (1015)
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25/7/2013
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RM8.02
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SELL into strength
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RM7.40
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Share
price has risen circa 14% since end of June. We advocate a Sell into Strength
as valuation looked stretch with MarFY14 PE of 13.23x and P/B of 2x. RSI at
75% also signifies overbought levels. With the rising yield for MGS, this
does not bode well for AMBANK which has an LD ratio of 97.3% and significant
exposure to fixed rate loans such as automotive. Government’s decision to
clamp down on household debts could also have an impact. At current valuation
we prefer CIMB (13.45xPE, 2.12xBV) and RHBC (11.5xPE, 1.38xBV). SELL into
Strength with TP: RM7.40
(TYK)
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COASTAL (5071)
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25/7/2013
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RM2.53
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BUY
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RM3.36
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Since reaching its peak of RM3.16 share price has
fallen 20% and retraced 50% from the last leg. We believe this is a good
level to re-enter Coastal as company transforms itself from shipbuilder to
asset ownership following the acquisition of a jack up rig. This is a laggard
to other asset owners which trades at low teens. During 2013-2014 period, 17
jackup rig contracts in Malaysia will be expiring which puts new rig owners
such as Coastal in a strategic position to bag a contract. BUY with TP:
RM3.36 (12xFY13PE).
(TYK)
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Calls for JULY week 3 / week
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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WASEONG (5142)
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18/7/2013
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RM1.96
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BUY
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RM2.33
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RM1.98
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+1.0%
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MUDAJYA (5085)
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18/7/2013
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RM2.70
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BUY
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RM3.44
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RM2.65
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-1.9%
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MAYBULK (5077)
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19/7/2013
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RM1.85
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BUY
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RM2.30
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RM1.80
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-2.8%
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DAYA(0091)
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19/7/2013
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RM0.255
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BUY
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RM0.295
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RM0.265
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+3.9%
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THHEAVY(7206)
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22/7/2013
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RM0.945
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Trading SELL
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RM0.85
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RM0.915
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-3.2%
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SAM(9822)
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22/7/2013
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RM2.45
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BUY
on weakness
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RM3.00
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RM2.61
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+6.5%
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BRAHIMS (9474)
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23/7/2013
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RM1.00
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Trading BUY
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RM1.20
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RM1.17
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+17.0%
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WTK(4243)
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23/7/2013
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RM1.24
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BUY
on weakness
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RM1.55
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RM1.22
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-1.7%
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PUNCAK (6807)
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24/7/2013
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RM2.48
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BUY
on weakness
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RM3.50
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RM2.45
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-1.3%
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DRBHCOM (1619)
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24/7/2013
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RM2.70
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BUY
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RM3.30
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RM2.71
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+0.3%
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We’ve added an extra feature (first column from right) to indicate our
recommendation for our call.
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HOLD
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CONT SELL
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SELL/ TAKE PROFIT
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CONT BUY
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STRONG BUY
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