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FLOWS
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Thursday, 20 March, 2014
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BUY
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ASTRO,
SIME, SKPETRO
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SELL
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KNM, TENAGA, CIMB
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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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MITRA (9571)
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20/3/2014
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RM0.55
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ACCUMULATE
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RM0.70
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Company has posted two consecutive strong
quarters of earnings and we believe recovery momentum could continue fuelled
by its construction orderbook of RM890mil which is more than 4x its FY13
construction revenue. Major job win from last year included RM428m award to
build office buildings in Putrajaya. Its property division is expected to be
flattish for FY14 however company has 2 major development expected to launch
in the later part of the year namely a 3block condo in Wangsa Maju as well as
a mixed development in Taman Puchong Prima. This has a combined GDV of RM1.6bn.
Trading volume increased recently in the company with share price appearing
to build base above its previous resistance of 54.5-55sen. This reverse
H&S pattern has a 15sen potential upside. Trades at historical PE of 7.6x
and 0.6xBV. Accumulate with TP: RM0.70
(TYK)
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CMMT (5180)
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20/3/2014
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RM1.50
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TRIM
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RM1.30
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Fed Chairman Janet Yellen’s comment yesterday
that interest rate could start to raise around six months after it stops
buying bonds saw 10year tsy yield jump to 2.78% (+4%) overnight. This could
see selling in the REIT segment similar to the scenario at the end of the
year. Retail REITs are facing multiple headwinds with govt cut in subsidies
sapping consumer demand while mall operators faced higher assessment rates
and electricity cost. A rising interest would also affect its funding for
expansion and refinancing cost. SUNREIT, CMMT and PAVREIT is among the top
performers YTD gaining apprx 10%. We advocate a TRIM with TP: RM1.30 (7%
yield)
(TYK)
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Calls for MARCH 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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CYPARK (5184)
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13/3/2014
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RM2.42
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BUY
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RM2.80
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RM2.43
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+0.4%
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SUPERMX (7106)
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13/3/2014
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RM2.80
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BUY
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RM3.10
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RM2.67
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-4.7%
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IJMLAND (5215)
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14/3/2014
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RM2.71
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Accumulate
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RM3.14
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RM2.87
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+5.9%
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ENCORP (6076)
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14/3/2014
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RM1.29
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BUY
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RM1.60
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RM1.32
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+2.3%
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HOVID (7213)
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17/3/2014
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RM0.35
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DEFENSIVE BUY
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RM0.41
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RM0.345
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-1.5%
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SKPETRO (5218)
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17/3/2014
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RM4.19
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BUY
on Weakness
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RM4.90
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RM4.21
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+0.4%
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ARMADA (5210)
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18/3/2014
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RM3.88
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BUY
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RM4.30
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RM3.87
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-0.3%
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CIMB (1023)
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18/3/2014
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RM7.00
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ACCUMULATE
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RM7.70
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RM7.07
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+1.0%
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TMCLIFE(0101)
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19/3/2014
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RM0.37
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BUY
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RM0.45
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RM0.38
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+2.7%
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AMBANK (1015)
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19/3/2014
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RM7.11
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Trading BUY
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RM8.05
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RM7.12
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-0.1%
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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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