|
FLOWS
|
Wednesday, 17 September, 2014
|
|||||||||||||
|
BUY
|
CIMB, YTLPWR, TM
|
|||||||||||||
|
SELL
|
MAYBANK, DIGI, GENM
|
|||||||||||||
|
STOCK ALERT
|
||||||||||||||
|
STOCK NAME
|
DATE
|
PRICE
|
BUY/SELL
|
TARGET PRICE
|
||||||||||
|
MYEG (0138)
|
17/9/2014
|
RM3.28
|
SELL
|
BB – RM2.80
|
||||||||||
|
MYEG
– Stock rally ( YTD +22%) looks to have priced in most of the positive
developments and expected strong earnings growth for the company. Recent news
of clinching the custom service tax monitoring concession has propelled its
share price to a new high of RM3.47. Stock looks fully valued even accounting
for the strong earnings numbers in the next two years with a PE of 25x 2015
and 16x 2016. MACD indicators divergence threatening to cut down could see a
pull back down to the RM2.80s levels as a good re-entry price.
(DN)
 |
||||||||||||||
|
BSTEAD (2771)
|
17/9/2014
|
RM4.98
|
SELL
|
RM4.50
|
||||||||||
|
Boustead
– a downgrade is possible due to the high sensitivity of its plantation
earnings to CPO prices with over 90% on matured land. This division accounts
for 30% of group EBITA as largely funds the 30sen NDPS enjoyed over the past
few years. With no exciting new major launches in the property div and
continued uncertain numbers from Heavy Industry despite its huge order book,
there could be pressure on the ability of the group to maintain this payout
amount. Furthermore its recent announcement of purchasing the Port Klang
Cruise Center and aspirations to develop it into a fabrication yard will
further tax its cash flow. Given the risk to the yield enjoyed over the past
few years, we expect a pullback to around RM4.50 reflecting the issues
highlighted.
(DN)
 |
||||||||||||||
|
|
||||||||||||||
|
Calls for SEPT WEEK 2/ WEEK 3
2014
|
||||||||||||||
|
STOCK
|
Initiation
Dates
|
Initiation
price
|
BUY/SELL
|
TARGET PRICE
|
LAST PRICE
|
% Change
since Initiated
|
||||||||
|
STEMLFE (0137)
|
9/9/2014
|
RM0.465
|
Trading BUY
|
RM0.465
|
RM0.465
|
+0.0%
|
||||||||
|
HLBANK (5819)
|
9/9/2014
|
RM14.82
|
TRIM
|
-
|
RM14.64
|
-1.3%
|
||||||||
|
DAYANG (5141)
|
10/9/2014
|
RM3.50
|
ACCUMULATE
|
RM4.26
|
RM3.45
|
-1.5%
|
||||||||
|
PRESBHD (5204)
|
10/9/2014
|
RM2.07
|
Trading BUY
|
RM2.40
|
RM2.03
|
-2.0%
|
||||||||
|
PERDANA (7108)
|
11/9/2014
|
RM1.74
|
ACCUMULATE
|
RM1.95
|
RM1.78
|
+2.2%
|
||||||||
|
THHEAVY (7206)
|
11/9/2014
|
RM0.83
|
ACCUMULATE
|
RM0.94
|
RM0.815
|
-1.9%
|
||||||||
|
ECONBHD (5253)
|
12/9/2014
|
RM0.965
|
Trading BUY
|
RM1.20
|
RM1.03
|
+6.7%
|
||||||||
|
GAMUDA (5398)
|
12/9/2014
|
RM4.83
|
BUY
|
RM5.50
|
RM4.80
|
-0.7%
|
||||||||
|
BARAKAH (7251)
|
15/9/2014
|
RM1.40
|
ACCUMULATE
|
RM1.60
|
RM1.39
|
-0.8%
|
||||||||
|
BAT (4162)
|
15/9/2014
|
RM73.36
|
Trading SELL
|
RM66.00
|
RM70.80
|
-3.6%
|
||||||||
|
|
|
|
|
|
|
|
||||||||
|
Given that our call initiated on the 29/8 to buy
Censof (5195) has achieved our target of RM0.58,
we advocate a take profit on the stock.
|
||||||||||||||
|
Performance
|
|
|
Positive
|
|
|
Negative
|
|
|
Neutral
|
|