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FLOWS
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Thursday, 17 July, 2014
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BUY
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MAYBANK,
IHH, SIME
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SELL
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DIGI, CIMB, SKPETRO
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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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ICON (5255)
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17/7/2014
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RM1.85
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BUY
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RM2.20
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One
of the youngest O&G fleet operators with 32 vessels with an average age
of 4.8 years and utilization of about 80%. Earnings insulated by order book
of RM700m which will last them till 2018. Margins are set to improve as
RM179m from the IPO will be used to reduce borrowings. The company is also
set to diversify from shallow water to deep water segment. Stock has retraced
from an opening high of RM2.19 back down to its IPO levels. Valuation at
these levels appear attractive based on 2015 PE of 13x and 2016 10.5x. Based
on industry valuation for mid size O&G of 16x , our immediate target
price is RM2.20. BUY
(DN)
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NOTION (0083)
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17/7/2014
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RM0.65
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Trading BUY
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RM0.72
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A
major laggard in the tech names after their dismal
1H numbers affected by lower volumes in SLR lenses and weaker operating
efficiencies. This has seen their share price fall to a new low of 54.5c in
late Aug but has since clawed back above the 60c levels. With the HDD segment
and auto/industrials holding up, the company could see a better performance
in the 2H but still miss consensus forecast. In an effort to mitigate the dip
in the SLR division, management is now talking to Japanese and Korean
smart phone firms to manufacture components for them. This could add RM40-50m
top line to the group or an additional 18-20% of additional revenue to
existing business. With most negatives priced in , we are recommending a
technical trading buy with an immediate resistance at 72sen levels.
(DN)
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Calls for JULY 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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UCHITEC(7100)
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9/7/2014
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RM1.42
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ACCUMULATE
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RM1.78
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RM1.43
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+0.7%
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MEDIA (4502)
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9/7/2014
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RM2.44
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ACCUMULATE
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RM2.90
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RM2.37
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-2.9%
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BARAKAH (7251)
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10/7/2014
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RM1.58
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ACCUMULATE
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RM1.80
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RM1.62
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+2.5%
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GENTING (3182)
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10/7/2014
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RM9.80
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ACCUMULATE
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RM11.00
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RM9.80
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0.0%
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IHH (5225)
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11/7/2014
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RM4.70
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SELL
into strength
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RM3.80
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RM4.78
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+1.7%
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SUPERMX (7106)
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11/7/2014
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RM2.15
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ACCUMULATE
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RM2.60
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RM2.14
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-0.5%
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GTRONIC (7022)
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14/7/2014
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RM4.33
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ACCUMULATE
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RM5.00
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RM4.25
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-1.9%
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LONBISC (7126)
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14/7/2014
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RM0.885
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Trading BUY
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RM1.05
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RM0.885
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0.0%
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ARMADA (5210)
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16/7/2014
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RM3.24
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ACCUMULATE
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RM3.98
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RM3.28
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+1.2%
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DAYA (0091)
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16/7/2014
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RM0.28
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Trading BUY
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RM0.35
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RM0.295
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+5.3%
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Performance
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Positive
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Negative
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Neutral
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