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FLOWS
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Thursday, 4 December, 2014
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BUY
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GENM, TENAGA, AXIATA
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SELL
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FGV, YTL, PCHEM
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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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AFG (2488)
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04/12/2014
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RM4.20
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TRIM
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BB – RM4.20
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Despite a general downgrade of the banking
sector, AFG has remained relatively resilient. In the past 1 month its peers
have fallen substantially led by CIMB-13%, RHB-10.5%, MAYBANK-7.7%,
AMBANK-5.2% while AFG was unchanged. This offers an opportunity to take
profit as AFG 2Q result is expected to normalise in the 2HFY15. 2Q was
boosted by one off gain of RM21.6m from sale of land, OPR hike, and write
back of loan provisions. NIM is expected to come under pressure as deposits
gets repriced in a slowing loan growth environment in Malaysia. Given company
size relative to its peers, we believe it should trade closer to 10xPE which
is comparable to AMBANK and RHBCAP. Trim with TP: RM4.20
(TYK)
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IHH (5225)
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04/12/2014
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RM4.78
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TRIM
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RMBB –RM4.20
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IHH (RM4.78): Share price has broken
below its double top neckline of RM4.81 with price expecting to retest its
recent low of RM4.60. We believe share price is due for correction as IHH is
trading at 41xFY15 PER vs its peers at 30-35x. We believe current share price
as priced in its upcoming growth drivers namely, ramp up of Mt Elizabeth
Novena, 4 hospitals in Malaysia, and 2 hospitals in Turkey. Sector is
expected to be impacted by rising wages and GST implementation thus extending
the payback period of new hospitals. Trim with TP: RM4.20
(TYK)
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Calls for NOV WEEK 3 | WEEK 4
2014
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STOCK
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Initiation
Dates
|
Initiation
price
|
BUY/SELL
|
TARGET
PRICE
|
LAST PRICE
|
% Change
since Initiated
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FITTERS (9318)
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26/11/2014
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RM0.77
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TRADING BUY
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RM0.88
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RM0.70
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-9.1%
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TUNEINS (5230)
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26/11/2014
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RM1.85
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ACCUMULATE
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RM2.15
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RM1.83
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-1.1%
|
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TAMBUN (5191)
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27/11/2014
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RM2.19
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ACCUMULATE
|
RM2.59
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RM2.10
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-4.2%
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MUHIBBAH (5703)
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27/11/2014
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RM2.47
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TRADING BUY
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RM2.82
|
RM2.00
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-19.1%
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UCHITEC(7100)
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28/11/2014
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RM1.41
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ACCUMULATE
|
RM1.60
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RM1.37
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-2.9%
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SKPRES (7155)
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28/11/2014
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RM0.725
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BUY
|
RM0.84
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RM0.735
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+1.3%
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SPSETIA(8664)
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01/12/2014
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RM3.24
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ACCUMULATE
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RM3.50
|
RM3.25
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+0.4%
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MRCB (1651)
|
01/12/2014
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RM1.46
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ACCUMULATE
|
RM1.60
|
RM01.31
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-10.7%
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MYEG (0138)
|
03/12/2014
|
RM4.16
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TAKE PROFIT
|
-
|
RM4.21
|
+1.2%
|
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WELLCAL (7231)
|
03/12/2014
|
RM1.62
|
ACCUMULATE
|
RM1.80
|
RM01.62
|
0.0%
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Performance
|
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Positive
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Negative
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Neutral
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