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FLOWS
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Thursday, 16 October, 2014
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BUY
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SKPETRO, TENAGA, IOICORP
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SELL
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GENTING, MAXIS, FGV
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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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PERDANA (7108)
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16/10/2014
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RM1.66
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ACCUMULATE
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-
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We continue to back Perdana amongst the
weaker overall sector as we like the Co for its young fleet of osv’s (4-5yrs)
as well as high utilization (~90%) paired with a high growth moving fwd.
Recent shift to bid for EOR-related jobs where Petronas & its PSC
partners are budgeting to spend RM30b over the nxt 30 yrs will also provide
better stability. Co has just taken delivery of its 300 man work barge for
either the Shell EOR job (St Joseph’s) where award is expected by 2H14 or
Dayang’s HUC job. P/E remains attractive FY15 & FY16 PER of 10.7x
& 9.4x pegged with a 63% CAGR for the next 2 yrs. RSI is currently the 2nd
lowest point in 30 mnths at only 34%, shr has been consolidating ard the
RM1.61–RM1.66 lvl. Accumulate.
Price Entry :
RM1.62-RM1.66
TP : RM2.40 based
on 14x for FY16
(RL)
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BURSA (1818)
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16/10/2014
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RM7.95
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TRIM
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-
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Market condition continue to soften following the weaker
global market sentiments driving away retail investors, selective
institutions & foreign flows as the CI saw a correction that drove the
index below the 1800 level. Moving forward, the volume of the market is
expected to taper off in the seasonally slower Q3 following selective buying
and less trading activity amongst retailers for stocks as well as
derivatives. Div of 4.8% at this price is deemed unattractive as currently
stock is trading at 21X PE for FY14 and 20x PE for FY15 vs MREIT average of
6.2%. We suggest swapping to names like SUNREIT, BJTOTO for a defensive yield
play with less downside risk to its valuation. TRIM.
(RL)
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Calls for SEPT OCT WEEK 1 /
WEEK 2 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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YINSON (7293)
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9/10/2014
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RM2.89
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BUY
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RM3.30
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RM2.49
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-13.1%
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GLOMAC (5020)
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9/10/2014
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RM1.10
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TRIM
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-
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RM1.08
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-2.0%
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MEDIAC(5090)
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10/10/2014
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RM0.885
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ACCUMULATE
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RM0.94
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RM0.855
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-3.4%
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BJTOTO(1562)
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10/10/2014
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RM3.59
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Defensive BUY
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-
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RM3.41
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-5.1%
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OLDTOWN(5201)
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13/10/2014
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RM1.76
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SELL
Into Strength
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BB - RM1.32
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RM1.67
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-5.2%
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CBIP (7076)
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13/10/2014
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RM4.60
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SELL
into Strength
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BB - RM3.73
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RM4.49
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-2.4%
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MSM (5202)
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14/10/2014
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RM4.92
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TAKE PROFIT
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-
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RM4.90
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-0.4%
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UMWOG(5243)
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14/10/2014
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RM3.10
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ACCUMULATE
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RM3.60
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RM3.23
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+4.1%
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UOADEV(5200)
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15/10/2014
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RM2.10
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TRIM
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-
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RM2.10
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0.0
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PMETAL (8869)
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15/10/2014
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RM5.05
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ACCUMULATE
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RM5.90
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RM5.00
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-1.0%
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Performance
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Positive
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Negative
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Neutral
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