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FLOWS
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Thursday, 23 October, 2014
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BUY
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SKPETRO, YTL, CIMB
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SELL
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DIGI, MAYBANK,
AMBANK
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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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ARMADA (5210)
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23/10/2014
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RM1.47
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BUY
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RM1.80
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Stock expects its recent
rights exercise to provide the bottom for the stock as investors capitulate
& give up on the stock as were the case for many other unpopular previous
GLC-related big caps rights issues. Trades at way below historical valuations
at FY15 PER 12.1x & P/bk 1.3x versus historical PER 27.7x & p/bk
3.1x. The bulk of its earnings are secured, coming from FPSOs which are
long-term locked-in contracts. Potential
+ve newsflows from 5 outstanding FPSO bids in Africa & S America,
new ventures into floating LNG(FLNG) vessel & EOR. Technically has
consolidated well over the last week, forming a base with immediate breakout
levels at RM1.49/50. Accumulate if < RM1.49, buy aggressively if break
above RM1.50.
(PT)
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PCHEM (5183)
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23/10/2014
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RM5.93
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ACCUMULATE
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RM6.45
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Group is the remaining core
blue which is very oversold with RSI of 14.7%, the lowest level since early
Dec'12 when it rebounded 14% in less than 1 month. Valuation is very
attractive at 12.8x PER for FY15 vs market PER of 16.5x & historical PER
of 16.1x. It provides a yield of @ 4% and is a candidate for year-end window
dressing as local GLCs hold more than 80% stake in the company. Management
has guided recently that 2H14 results will improve substantially as capacity
utilization increases from 65% in 2Q14 to 95% for 2H14 due to major
turnaround action plans conducted in 2013. There will also be expansion in
capacity next year with the Samur urea plant in Sabah on track to start
operations in 1Q15. Accumulate
(PT)
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Calls for SEPT OCT WEEK 2 /
WEEK 3 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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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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RM4.91
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-0.2%
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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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RM3.48
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+12.2%
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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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RM2.19
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+4.2%
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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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RM5.23
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+3.5%
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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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RM2.40
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RM1.56
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-6.1%
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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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RM7.91
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-0.6%
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ASTRO (6399)
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20/10/2014
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RM3.22
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TRIM
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-
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RM3.21
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-0.3%
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BJFOOD (5196)
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20/10/2014
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RM2.75
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ACCUMULATE
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RM3.45
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RM2.75
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0.0%
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PENERGY (5133)
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21/10/2014
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RM2.42
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BUY
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RM2.80
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RM2.42
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0.0%
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TIMECOM (5031)
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21/10/2014
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RM5.00
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SELL
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BB - RM4.30
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RM4.97
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-0.2%
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Performance
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Positive
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Negative
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Neutral
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