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FLOWS
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Wednesday, September 24, 2014
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BUY
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IOICORP, SKPETRO, UMW
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SELL
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UEMS, CIMB, TENAGA
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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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SPSETIA (8664)
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24/9/2014
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RM3.25
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ACCUMULATE
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RM3.60
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Stock reached a high of RM3.60 after our
previous call and has since pulled back to attractive levels to accumulate
possibly due to news of their CEO leaving earlier than planned.
Transformation of senior management however is not unexpected and the company
has the advantage of an unbilled sales portion of RM11.6bn to see it through
this phase. Land banking will not be an issue for the group as potential
consolidation of PNB’s property asset under SPSetia will provide for M&A
interest. RSI is back down to 37 and MACD indicators look set to cut upwards
in the short term. Immediate resistance at RM3.40 before reattempting to
breach the recent high of RM3.60.
(DN)
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PCHEM (5183)
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24/9/2014
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RM6.23
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TRADING BUY
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RM6.80
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Price down to a year low after weaker 1H
numbers as a result of 5 turnarounds at their O&D time plants. PChem is
poised to capitalize from a potential shortfall in the 2H when their plants
come back on line and with major ethelyne producers in Japan and Korea
undergoing their own turnarounds during this period. Currently trading at a
forward PE of 12.5x and decent yield of 4.5%, we view these is a good
opportunity to accumulate the counter with a 3.5% top ten weighting in the
KLCI. Immediate resistance of RM6.80.
(DN)
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Calls for SEPT WEEK 3/ WEEK 4
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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MYEG (0138)
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17/9/2014
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RM3.28
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SELL
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BB – RM2.80
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RM3.22
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-1.9%
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BSTEAD (2771)
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17/9/2014
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RM4.98
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SELL
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RM4.50
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RM4.96
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-0.5%
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SOP (5126)
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18/9/2014
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RM5.85
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ACCUMULATE
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RM6.60
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RM5.89
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+0.6%
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PRTASCO (5070)
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18/9/2014
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RM1.71
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ACCUMULATE
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RM2.40
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RM1.72
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+0.5%
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POS ( 4634)
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19/9/2014
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RM4.70
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ACCUMULATE
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RM5.30
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RM4.67
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-0.7%
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TITIJYA (5239)
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19/9/2014
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RM2.44
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ACCUMULATE
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RM2.90
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RM2.47
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+1.2%
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GTRONIC (7022)
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22/9/2014
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RM4.81
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ACCUMULATE
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RM5.20
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RM4.86
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+1.0%
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TMCLIFE (0101)
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22/9/2014
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RM0.525
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ACCUMULATE
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RM0.60
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RM0.625
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+19.0%
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KENANGA (6483)
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23/9/2014
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RM0.72
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ACCUMULATE
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RM0.80
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RM0.705
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-2.1%
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IWCITY (1589)
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23/9/2014
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RM1.63
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TRADING BUY
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RM1.80
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RM1.62
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-0.7%
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Performance
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Positive
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Negative
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Neutral
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