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FLOWS
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Tuesday, 3 March, 2015
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BUY
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MAYBANK, SKPETRO, MISC
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SELL
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MAXIS, BAT, DIGI
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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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TGUAN (7034)
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03/03/2015
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RM2.05
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BUY on weakness
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RM2.80
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The share price fell c8% following Q4 results
which registered a RM4.1m loss. It’s worth noting that core net profit was
actually RM4m (several one-off exceptional expense items). We view this price
dip a buying opportunity as fundamentals & outlook remain in tact,
underpinned by group’s capacity expansion plan, products that are well
accepted by clients and the restructuring plans in their China plants to
reduce operating costs. Group expects to register higher margins from 2Q15
onwards (following run down of inventories bought at higher prices) while
turnover will be supported by expanded sales team to ensure high utilization
of growing capacity. Trading at 7.3x FY15 – Buy on weakness ( TP RM2.80 , 10x
FY15 EPS).
(AK)
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PHARMA (7081)
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03/03/2015
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RM5.73
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Sell into Strength
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BB- RM5.20
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Share price has spiked c17% over the past 3
weeks, largely driven by strong Q4 net profit, which beat forecast by 13%. It
pays to note that one of the reason for the strong showing was the
unexpectedly low effective tax rate of 25% ( vs 40% last year). PBT actually came
in 5% below forecast Group is now trading at 15.1x FY15, which is in
line with it’s latest 3-year average PE. Although we still like the stock’s
defensive earnings, growth exposure in the healthcare sector & decent
dividend yields, we deem the stock fairly valued at this level. RSI @ 85 –
Trim into strength ( Possible buyback at RM5.20)
(AK)
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Calls for Jan FEB WEEK 4 /
MARCH WEEK 1 2015
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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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DAYANG (5141)
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24/02/2015
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RM2.80
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ACCUMULATE
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RM3.20
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RM2.72
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-2.9%
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EVERGRN(5101)
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24/02/2015
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RM0.975
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BUY on weakness
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-
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RM0.975
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0.0%
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MUHIBBAH (5703)
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25/02/2015
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RM2.21
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ACCUMULATE
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RM2.72
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RM2.29
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+3.6%
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HAPSENG (3034)
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25/02/2015
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RM3.67
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BUY
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RM4.20
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RM3.80
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+3.5%
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KULIM (2003)
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26/02/2015
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RM3.25
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ACCUMULATE
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RM4.00
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RM3.32
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+2.1%
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SUNWAY (5211)
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26/02/2015
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RM3.32
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ACCUMULATE
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RM3.82
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RM3.41
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+2.7%
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IOIPG (5249)
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27/02/2015
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RM2.11
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ACCUMULATE
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RM2.50
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RM2.13
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+0.9%
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PETGAS (6033)
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27/02/2015
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RM23.52
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Sell into Strength
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-
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RM23.10
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-1.8%
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OCK (0172)
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02/03/2015
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RM0.93
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ACCUMULATE
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RM1.10
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RM0.925
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-0.6%
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PERISAI (0047)
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02/03/2015
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RM0.655
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Sell into Strength
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-
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RM0.635
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-3.1%
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Performance
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Positive
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Negative
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Neutral
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