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FLOWS
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Monday, 24 March, 2014
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BUY
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SKPETRO,
DIGI, HLBANK
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SELL
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IOICORP, TENAGA,
GAMUDA
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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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GENTING (3182)
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24/3/2014
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RM9.60
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ACCUMULATE
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RM10.50
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Genting is trading close to its 50% retracement level
of its rally from August 2013 low of RM8.74 to its January 2014 high of
RM10.40 with wide divergence in its macd indicating oversold levels,
while its short-term stochastic is on the verge of cutting up as Genting has
been correcting for the past month & the rate of decline has decelerated.
At current levels, it is appropriate to start accumulation.
Fundamentally, Genting is also trading at trough valuation on an
EV/EBITDA basis at 6.1x for FY14, close to the low during the 2003 SARS
crisis and at discount of more than 30% vis-Ã -vis its regional peers. The
deregulation of casinos is playing out across Asia and Genting is the best
proxy to play this theme. Accumulate
(PT)
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KPS (5843)
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24/3/2014
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RM1.63
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ACCUMULATE
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RM2.00
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KPS has retraced sharply (-32%) from its high of RM2.41
towards the end of 2013. On its 3-year weekly chart, its current level is
close to its 50% retracement of its low in September 2011 to
its high in November 2013. It has a RSI of 32% and trades at near its
recent support of the RM1,60 level. As KPS has accepted the Selangor state
government offer within the offer period, the company is guaranteed
the minimum consideration for its sale of its water assets to the
state in the event of a compulsory takeover under WASIA or even if
it requires arbitration. Based on the last reported balance sheet of the
company at y/e 31/12/13, the proforma NAV/share of the
company post the sale of water assets will be RM2.50/share,
i.e. KPS is currently trading at a 35% discount to its revised
NAV even without revaluing its other property-related assets which have
appreciated in value sharply the last couple of years. Accumulate
(PT)
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Calls for MARCH 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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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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RM0.34
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-2.9%
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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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RM4.22
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+0.7%
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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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RM7.08
(ex)
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+1.1%
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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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RM7.05
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-0.9%
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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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RM0.56
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+1.8%
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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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RM1.48
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-1.3%
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IJM (3336)
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21/3/2014
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RM5.90
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ACCUMULATE
on weakness
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RM6.75
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RM5.98
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+1.3%
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UEMS (5148)
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21/3/2014
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RM2.15
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ACCUMULATE
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RM2.60
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RM2.21
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+2.7%
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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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