|
FLOWS
|
Wednesday, 28 January, 2015
|
|||||||||
|
BUY
|
MAYBANK, FGV, GENTING
|
|||||||||
|
SELL
|
DIGI, ASTRO, AMBANK
|
|||||||||
|
STOCK ALERT
|
||||||||||
|
STOCK NAME
|
DATE
|
PRICE
|
BUY/SELL
|
TARGET PRICE
|
||||||
|
KAREX (5247)
|
28/01/2015
|
RM3.94
|
TRIM
|
BB - RM3.40
|
||||||
|
Share price has risen 40% since mid Oct’14
with RSI hitting 75%. We believe current valuation of 25.5x JunFY15 has
priced in company’s expansion plans which includes boosting capacity from 4bn
to 7b in FY17. Analyst has also imputed margin improvements from 15.8% to
17.3% in FY16 via stronger USD and favourable latex price. However latex
prices have stabilised since Oct’14 and trades at 5yr low hence we believe
margin could eventually normalise. Trim with TP: RM3.40
 |
||||||||||
|
UMWOG (5243)
|
28/01/2015
|
RM2.70
|
TRIM
|
BB – RM2.40
|
||||||
|
Share price has risen 38% since its recent
low with MACD showing signs of turning down while RSI is at 60%. We advocate
trimming exposure as lower crude oil prices makes jack-up rig market more
challenging. 5 out of 7 units of UMWOG’s drilling fleet are currently on ST
charters with Naga 3 expiring in Mar. We believe DCR could drop 10-15% as
these 5 are enjoying better DCR USD170-186k/day vs long term contract in
Malaysia of USD144k/day. Trim with TP: RM2.40
 |
||||||||||
|
|
||||||||||
|
Calls for Jan WEEK 3/ WEEK 4 2015
|
||||||||||
|
STOCK
|
Initiation
Dates
|
Initiation
price
|
BUY/SELL
|
TARGET
PRICE
|
LAST PRICE
|
% Change
since Initiated
|
||||
|
SALCON (8567)
|
21/01/2015
|
RM0.60
|
ACCUMULATE
|
RM0.76
|
RM0.67
|
+11.6%
|
||||
|
SKPRES (7155)
|
21/01/2015
|
RM0.75
|
ACCUMULATE
|
RM1.00
|
RM0.755
|
+0.6%
|
||||
|
SPSETIA (8664)
|
22/01/2015
|
RM3.60
|
BUY on weakness
|
-
|
RM3.55
|
-1.4%
|
||||
|
NAIM (5073)
|
22/01/2015
|
RM3.00
|
ACCUMULATE
|
RM4.00
|
RM3.01
|
+0.3%
|
||||
|
FABER (1368)
|
23/01/2015
|
RM2.47
|
BUY
|
RM3.20
|
RM2.56
|
+3.6%
|
||||
|
DELEUM (5132)
|
23/01/2015
|
RM1.75
|
BUY
|
RM2.20
|
RM1.74
|
-0.6%
|
||||
|
GDEX (0078)
|
26/01/2015
|
RM2.20
|
BUY on weakness
|
RM2.50
|
RM2.19
|
-0.5%
|
||||
|
GAB (3255)
|
26/01/2015
|
RM12.28
|
ACCUMULATE
|
RM13.50
|
RM12.16
|
-1.0%
|
||||
|
JCY (5161)
|
27/01/2015
|
RM0.715
|
Sell into Strength
|
BB - RM0.63~
|
RM0.71
|
-0.7%
|
||||
|
UZMA (7250)
|
27/01/2015
|
RM2.06
|
Sell into Strength
|
BB
– RM1.75
|
RM2.00
|
-3.0%
|
||||
j
|
Performance
|
|
|
Positive
|
|
|
Negative
|
|
|
Neutral
|
|