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FLOWS
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Wednesday, 5 November, 2014
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BUY
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SKPETRO, GENTING, IOICORP
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SELL
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MAYBANK, PBBANK,
MEDIA
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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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PARKSON (5657)
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5/11/2014
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RM2.52
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BUY
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RM3.10
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52%
PRG is seeing a recovery in same store sales after experiencing contractions
in the past year. Rationalisation of operations via improved merchandise mix
and consolidation of stores are also starting to bear fruit. Immediate
rerating catalyst could come from the announcement of 1Q numbers for qtr
ended Sep 2014 on Nov 13th. Currently trading at trough
valuations of 14.6x forward PE we recommend a buy with a recovery to mean
valuation of 18x or RM3.10.
(DN)
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SIME (4197)
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5/11/2014
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RM9.68
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BUY
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RM10.50
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Completion
of NBPOL although not cheap at 22x 2015 PE will provide SIME with a land bank
of 134,611 ha of brownfield asset fulfilling its long term landbanking
requirements. It is the best proxy for a recovery in CPO prices as currently
the plantation division accounts for 30% of revenue and 50% PBT. Other
rerating catalyst would be the spinning off of its core divisions starting
off with Sime Motor in 2015. Further down the road earnings will also be
bolstered by the successful Batter Sea project which will start contributing
positively from 2016 onwards. Track for a break out above RM9.80 from its
consolidation band of between RM9.30-RM9.80. Immediate upside target of
RM10.50 corresponding to forward year PE of 20x.
(DN)
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Calls for OCT WEEK 4 / NOV
WEEK 1 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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DELEUM (5132)
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29/10/2014
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RM1.88
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ACCUMULATE
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RM2.55
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RM1.96
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+4.2%
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ECONBHD (5253)
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29/10/2014
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RM0.94
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Trading BUY
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RM1.15
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RM0.99
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+5.3%
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VITROX (0097)
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30/10/2014
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RM2.42
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ACCUMULATE
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RM2.80
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RM2.64
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+9.0%
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MAYBULK (5077)
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30/10/2014
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RM1.48
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ACCUMULATE
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RM1.75
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RM1.53
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+3.3%
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PANTECH (5125)
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31/10/2014
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RM0.97
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ACCUMULATE
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RM1.18
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RM0.975
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+0.5%
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AIRPORT (5014)
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31/10/2014
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RM7.26
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TRIM
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RM6.60
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RM7.18
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-1.2%
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SALCON (8567)
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3/11/2014
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RM0.74
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TRADING BUY
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RM0.82
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RM0.73
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-1.4%
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GTRONIC (7022)
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3/11/2014
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RM4.52
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TRADING BUY
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RM4.99
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RM4.62
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+2.2%
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SOP (5126)
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4/11/2014
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RM5.75
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ACCUMULATE
on weakness
|
RM6.20
|
RM5.75
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0.0%
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MMCCORP (2194)
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4/11/2014
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RM2.58
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BUY
– closer to RM2.30
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RM2.80
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RM2.60
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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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