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FLOWS
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Wednesday, 27 May, 2015
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BUY
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UEMS, SUNWAY
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SELL
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MISC, PBBANK
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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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LAFMSIA (3794)
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27/05/2015
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RM9.53
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SELL into Strength
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BB - RM8.24
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Currently trades at rich valuations of 22.6x FY16
PER (vs 19x 3-yr historical average) on the back of better than expected 1Q
results mainly due to pre-GST stockpiling which is already factored in. It
seems Co operates in a red-ocean as it faces pricing pressure with an
expected 14% additional capacity coming on-stream within the next year. The
recent 11MP announcement is not expected to contribute near term due a time
lag of at least 1 year on project implementation. The recently announced 8c
dividend (vs 9c YoY) might indicate a cautious stance from Co on the industry
moving forward. As such, we recommend a Sell into strength and revisit at
more attractive valuations of RM8.24 (19x FY16 PER, 5.2% dividend yield).
(SPK)
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TGUAN (7034)
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27/05/2015
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RM1.51
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Trading BUY
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RM1.70
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Share price has consolidated well over past 3 months
at current levels providing a good opportunity to gain exposure to a growth
company. We expect both higher near and mid-term earnings contribution on 1)
strengthening USD vs MYR on Fed rate hike, 2) expansion of sales team translating
into higher utilization rate (currently 75%) translating into higher
turnover, & 3) 40% increase in production capacity especially in the
higher value-added products (thin-stretch films, nano-layer stretch films
& PVC food wrap) offering higher profit margin. Trades attractively at
only 6.3x FY16 PER vs 13.7x peer average and 8.1x 3-yr historical average
whilst yielding 4.5%, we recommend an Accumulate with a TP of RM2.40.
(SPK)
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Calls for MAY WEEK 3 / WEEK 4 2015
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STOCK
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Initiation
Dates
|
Initiation
price
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BUY/SELL
|
TARGET
PRICE
|
LAST PRICE
|
% Change
since Initiated
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PMETAL (8869)
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20/05/2015
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RM2.87
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ACCUMULATE
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RM3.50
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RM2.67
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-7.0%
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SALCON (8567)
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20/05/2015
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RM0.85
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ACCUMULATE
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RM1.05
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RM0.85
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0.0%
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BRAHIMS (9474)
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21/05/2015
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RM0.93
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TRADING BUY
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RM1.20
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RM0.945
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+1.6%
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STAR (6084)
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21/05/2015
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RM2.51
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ACCUMULATE
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RM2.80
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RM2.53
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+0.7%
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GASMSIA (5209)
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22/05/2015
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RM2.80
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TRIM
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RM2.40
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RM2.74
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-2.2%
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DAYANG (5141)
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22/05/2015
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RM2.44
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BUY
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RM2.80
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RM2.44
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0.0%
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MUHIBBAH (5703)
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25/05/2015
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RM2.58
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BUY
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RM3.20
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RM2.51
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-2.8%
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HUAYANG (5062)
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25/05/2015
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RM2.09
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BUY
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RM2.09
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RM2.08
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-0.5%
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PHARMA (7081)
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26/05/2015
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RM6.98
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TRIM
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RM6.34
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RM7.04
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+0.8%
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GDEX (0078)
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26/05/2015
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RM1.51
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Trading BUY
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RM1.70
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RM1.51
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0.0%
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PERFORMANCE
ALERT
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STOCK
|
Initiation
dates
|
Initiation
price
|
Target
Price
|
Action
|
Returns
|
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GHLSYS (0021)
|
31/3/2015
|
RM0.96
|
RM1.15
|
Take
Profit
|
19.7%
|
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MATRIX (5236)
|
3/4/2015
|
RM2.73
|
RM3.12
|
Take
Profit
|
14.2%
|
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SKPETRO (5218)
|
15/4/2015
|
RM2.40
|
RM2.75
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Take
profit
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14.5%
|
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UNISEM (5005)
|
22/4/2015
|
RM2.60
|
BB
– RM2.30
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Trading
buy
|
-
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SKPRES (7155)
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8/5/2015
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RM0.845
|
RM1.00
|
Take
profit
|
19.5%
|
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ECONBHD (5253)
|
8/5/2015
|
RM1.02
|
RM1.22
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Trading
sell
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12.7%
|
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EDUSPEC (0107)
|
12/5/2015
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RM0.37
|
RM0.42
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Trading
sell
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8.1%
|
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Performance
|
|
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Positive
|
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Negative
|
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Neutral
|
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