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FLOWS
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Thursday, 6 March, 2014
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BUY
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TENAGA,
SIME, IOICORP
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SELL
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MAXIS, UOADEV,
SPSETIA
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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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BRAHIMS (9474)
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6/3/2014
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RM2.44
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BUY
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RM3.04
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After
a full consolidation of its Brahim’s Airline Catering, the group has been
rapidly expanding its business with the latest development being from the JV
with All Nippon Airways. Moving forward, the group is in a sweet spot
enjoying approximately a 30% CAGR for the next 3 years as we expect new
earning stream of contribution from 1) the new food court in KLIA2 (2572 sqm)
post completion of KLIA (expecting to move in in Oct or Nov) 2) sugar
refinery plant that’s expected to be completed by end FY15 and 3) more JV
overseas. Furthermore, company had just announced its maiden dividend payout
last quarter. Currently trading at 15.7x for FY15 and 12.5x for FY16.
Technical chart shows strong buying interest recently with MACD turning
upwards, Flag formation offers a 18cent upside if it breaches above the
RM2.46 level with volume. BUY with a TP of RM3.04 based on 15.5x PE for FY16.
(RL)
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PANTECH (5125)
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6/3/2014
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RM0.91
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ACCUMULATE
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RM1.10
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While the group stands a reputable one-stop
pipes, fittings and flow controls solution provider in the country, we also
like it for its global exposure to the o&g. We believe that Pantech is
well positioned to benefit from the robust o&g sector as we await for
developments in 1) RAPID 2) US$1 billion Central Processing Platforms (CPP) and
Wellhead Platforms (WHP) at Bergading field located at the North Malay Basin
2) US$1.5 billion CPPs and WHPs at West Sepat gas field offshore Terengganu
and CPPs and WHPs at Bokor Dulang and Semarang fields worth US$1 billion more
fabrication jobs (via orders from SKPETRO and MMHE in FY16). At current
price, stock is trading at undemanding multiple of 7.80x for FY14 and only
6.5x for FY15. Pantech also has a div yield of 5.0% for FY15. Currently
stock’s share price consolidated well at the RM0.90 support and poses limited
downside. ACCUMULATE.
(RL)
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Given that our call initiated on the 3 March 2014 to buy Coastal
(5071) has achieved our target of RM4.65,
we advocate a take
profit on the stock.
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Calls for FEB Week 4/ MARCH Week 1 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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KSL (5038)
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27/2/2014
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RM2.14
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ACCUMULATE
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RM2.80
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RM2.10
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-1.9%
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MAYBULK (5077)
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27/2/2014
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RM2.14
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SELL
into Strength
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RM1.80
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RM2.06
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-3.8%
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BARAKAH (7251)
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28/2/2014
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RM1.57
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Trading BUY
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RM1.76
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RM1.58
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+0.6%
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SILKHLD(5078)
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28/2/2014
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RM0.64
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Trading BUY
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RM0.74
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RM0.615
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-4.0%
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COASTAL(5071)
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3/3/2014
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RM4.20
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TAKE PROFIT
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RM4.65
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RM4.65
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+10.7%
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SUPERMX(7106)
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3/3/2014
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RM2.78
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BUY
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RM3.56
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RM2.85
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+2.5%
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DAYA (0091)
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4/3/2014
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RM0.365
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ACCUMULATE
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RM0.45
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RM0.36
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-1.4%
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THHEAVY (7206)
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4/3/2014
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RM0.915
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ACCUMULATE
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RM1.10
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RM0.935
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+2.1%
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HUAYANG (5062)
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5/3/2014
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RM1.86
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ACCUMULATE
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RM2.38
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RM1.84
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-1.1%
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SURIA (6521)
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5/3/2014
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RM2.43
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ACCUMULATE
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RM3.00
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RM2.50
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+2.8%
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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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