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FLOWS
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Thursday, 28 August, 2014
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BUY
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TM, IHH, PCHEM
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SELL
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TENAGA, DIGI,
MAYBANK
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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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CYPARK (5184)
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28/8/2014
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RM2.65
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ACCUMULATE
on weakness
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RM3.20
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CYPARK (RM2.65) - has corrected by >7%
from its July high of RM2.88 and appeared to have found support at the key
support of RM2.65/60 level. It is currently trading at attractive valuations
with PER of 8.7x & 8.2x for FY15 & FY16 coupled with eps growth
rates of more than 15% for the next 2 FYs due to its renewable energy
division which has increased its export capacity to Tenaga by more than 3x in
FY13 and is expected to increase its capacity further in FY14. The Malaysian
Government Green Energy Policy plans to increase generation capacity from RE
sources to 5-6% of total generation capacity by 2015 from 2% currently.
Cypark has comparable advantage to bid or acquire additional RE quota for
future growth because of its track record and first-mover
advantage. Its p/bk of 1.6x also compares favourably against its
historical average of 2.4x. The current weakness in the broad market is
an opportunity to accumulate the stock.
(PT/LJN)
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HOVID (7213)
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28/8/2014
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RM0.415
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ACCUMULATE
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RM0.45
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HOVID (RM0.415) - We like Hovid
for its defensive earnings as this pharmaceutical company produces >400
kinds of generic drugs, OTC and dietary supplements under one roof exporting
to > 45 countries worldwide. Company is set for positive FY’15 and beyond
from growing healthcare expenditure estimated at 6.5% per annum to RM68.4bn
and net profit growth at CAGR of 18.5% to FY’16. It’s new manufacturing
facility in Chemor is expected to come on-stream in mid 2015 coupled with
Hovid’s on-going prospect to achieve US FDA approval for its patented
product, the Palm Tocotrienols, that’s expected to be completed in 2-3 years.
Compared to regional peers of 21.6x FY’15 PE, stock is trading at attractive
14x FY’15 and with recent pullback, we would Accumulate with TP of RM0.45
based on 0.03 EPS.
(PT/LJN)
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Calls for AUGUST 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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TM(4863)
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21/8/2014
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RM6.24
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ACCUMULATE
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RM6.80
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RM6.27
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+0.4%
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MISC (3816)
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21/8/2014
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RM6.91
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TRIM
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-
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RM6.98
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+1.0%
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SURIA (6521)
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22/8/2014
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RM2.61
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ACCUMULATE
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RM3.25
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RM2.66
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+1.9%
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FABER (1368)
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22/8/2014
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RM3.30
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ACCUMULATE
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RM3.92
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RM3.54
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+7.2%
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ALAM (5115)
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25/8/2014
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RM1.45
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ACCUMULATE
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RM1.65
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RM1.39
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-4.2%
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AIRPORT (5014)
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25/8/2014
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RM7.91
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TRIM
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BB- RM7.50
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RM7.62
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-3.7%
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UZMA (7250)
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26/8/2014
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RM3.43
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Trading BUY
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RM4.00
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RM3.35
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-2.3%
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SCIENTX(4731)
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26/8/2014
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RM6.30
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TRIM
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BB- RM6.00
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RM6.18
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-2.0%
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CBIP (7076)
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27/8/2014
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RM4.68
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BUY
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RM5.49
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RM4.67
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-0.3%
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UOADEV (5200)
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27/8/2014
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RM2.10
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BUY on weakness
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RM2.40
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RM2.11
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+0.4%
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Performance
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Positive
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Negative
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Neutral
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