|
FLOWS
|
Monday, 20 October, 2014
|
||||||||||
|
BUY
|
YTL, MAYBANK, CIMB
|
||||||||||
|
SELL
|
IOICORP, DIGI, UEMS
|
||||||||||
|
STOCK ALERT
|
|||||||||||
|
STOCK NAME
|
DATE
|
PRICE
|
BUY/SELL
|
TARGET PRICE
|
|||||||
|
ASTRO (6399)
|
20/10/2014
|
RM3.22
|
TRIM
|
-
|
|||||||
|
Astro recent higher ARPU rate has artificially been buoyed by the
force migration to theirs HD decoders. However net adds remain soft and trail
significantly behind this year target of 150k new subs. This could be partly
due to the fact that many are taking advantage of the promotion of the
additional 2nd decoder or the same household at only RM50/mth.
Despite the current policy of 85% payout ratio, dividend yield remains
unattractive at 3%. Furthermore recent experience in more developed markets
has seen the migration of cable TV users to on line content providers such as
NetFlix. We feel that the weakness in the cable TV business model and
not compelling valuations of 30x PE 2015, warrants a reduce exposure to this
counter.
(DN)
 |
|||||||||||
|
BJFOOD (5196)
|
20/10/2014
|
RM2.75
|
ACCUMULATE
|
RM3.45
|
|||||||
|
Price has retraced to attractive accumulation levels after touching a
high of RM3.22. Its premium valuation 17.5x forward earnings is validated by
its superior earnings growth from Starbucks (100% from Sept 2014 and
projected SSG continuing its double digit growth), Kenny Rogers recovery and
regional growth. Further catalyst could come from potential injection of
other franchise brands from its parent company. We rate this a good
accumulation level with an eventual target of RM3.45 or 22x.
(DN)
 |
|||||||||||
|
|
|||||||||||
|
Calls for SEPT OCT WEEK 2 2014
|
|||||||||||
|
STOCK
|
Initiation
Dates
|
Initiation
price
|
BUY/SELL
|
TARGET PRICE
|
LAST PRICE
|
% Change
since Initiated
|
|||||
|
OLDTOWN(5201)
|
13/10/2014
|
RM1.76
|
SELL
Into Strength
|
BB - RM1.32
|
RM1.66
|
-5.7%
|
|||||
|
CBIP (7076)
|
13/10/2014
|
RM4.60
|
SELL
into Strength
|
BB - RM3.73
|
RM4.45
|
-3.3%
|
|||||
|
MSM (5202)
|
14/10/2014
|
RM4.92
|
TAKE PROFIT
|
-
|
RM4.91
|
-0.3%
|
|||||
|
UMWOG(5243)
|
14/10/2014
|
RM3.10
|
ACCUMULATE
|
RM3.60
|
RM3.38
|
+9.0%
|
|||||
|
UOADEV(5200)
|
15/10/2014
|
RM2.10
|
TRIM
|
-
|
RM2.13
|
+1.5%
|
|||||
|
PMETAL (8869)
|
15/10/2014
|
RM5.05
|
ACCUMULATE
|
RM5.90
|
RM5.25
|
+3.9%
|
|||||
|
PERDANA (7108)
|
16/10/2014
|
RM1.66
|
ACCUMULATE
|
RM2.40
|
RM1.52
|
-8.5%
|
|||||
|
BURSA (1818)
|
16/10/2014
|
RM7.95
|
TRIM
|
-
|
RM7.85
|
-1.3%
|
|||||
|
Performance
|
|
|
Positive
|
|
|
Negative
|
|
|
Neutral
|
|
