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FLOWS
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Wednesday, 29 January, 2014
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BUY
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MISC,
GENM, CIMB
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SELL
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UEMS, TM, DIGI
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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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SKPETRO (5218)
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29/1/2014
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RM4.31
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ACCUMULATE
on weakness
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RM4.90
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Share price has retraced 13% from its recent high of RM4.96 on 30th
December 2013 and has seem to find support at the 4.30 level. The Group’s
fundamental remain strong with its unrivalled dominance in Malaysia O&G
offshore service. SapuraKencana stands to be the biggest beneficiary of
Petroliam Nasional Bhd's (Petronas) expected acceleration in capital spending
amid buoyant international offshore oil and gas activities. In addition, the
group is tipped to clinch the risk-sharing contract to develop the Tembikai
oil field offshore in Terengganu. Currently, the stock is trading at
forward PE of 16.7x FY15 which is below peer average of 20x. Accumulate on
Weakness with a TP of going back to its high of RM4.90 level.
(KESTER)
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ARMADA (5210)
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29/1/2014
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RM4.05
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ACCUMULATE
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RM4.50
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Share price has been trading around the RM4.00 level for some time
after hitting a high of RM4.12. It has recently reported that Bumi Armada had
clinched firm contracts and extensions worth up to US$48m in Angola for its
two platform support vessels. These wins should help it build a presence in
Angola where it is one of the last two standing to pursue an FPSO contract
worth around US$1.5bn. Current order book is approximately RM9b with
optional contract extension of RM6b. Chart is turning bullish as MACD
is on the verge of cutting up. Fundamentally, the current valuation of Armada is
relatively attractive at FY14 PER of 19x versus it’s average PER of 26x since
listing in 2011. Accumulate the stock and ride the contributions from
Bumi Armada's expanding FPSO and non-FPSO fleets. TP RM4.50.
(KESTER)
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Calls for JAN week 3/Week 4 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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DIALOG (7277)
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22/1/2014
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RM3.32
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ACCUMULATE
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RM3.60
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RM3.31
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-0.3%
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TIMECOM(5031)
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22/1/2014
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RM3.56
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BUY
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RM3.90
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RM3.55
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-0.3%
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BARAKAH (7251)
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23/1/2014
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RM1.70
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Trading SELL
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RM1.47
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RM1.74
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+2.3%
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MUDAJYA (5085)
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23/1/2014
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RM2.74
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Trading BUY
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RM3.34
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RM2.69
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-1.9%
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AIRPORT (5014)
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24/1/2014
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RM8.90
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ACCUMULATE
on weakness
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RM10.00
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RM8.71
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-2.2%
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PERDANA (7108)
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24/1/2014
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RM1.69
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ACCUMULATE
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RM2.00
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RM1.66
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-1.8%
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CIMB (1023)
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27/1/2014
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RM6.90
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Buy on Weakness
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RM7.40
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RM6.84
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-0.9%
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IOIPG (5249)
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27/1/2014
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RM2.85
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ACCUMULATE
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RM3.30
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RM2.69
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-5.7%
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SURIA (6521)
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28/1/2014
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RM2.25
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ACCUMULATE
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RM2.94
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RM2.36
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+4.9%
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PADINI (7052)
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28/1/2014
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RM1.61
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ACCUMULATE
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RM1.90
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RM1.62
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+0.6%
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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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