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FLOWS
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Friday, 26 June, 2015
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BUY
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GENTING,
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SELL
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PCHEM, TM
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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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PRLEXUS (8966)
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26/06/2015
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RM2.10
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TRIM
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RM1.84
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The share price has had a good run over the past 2
months on the back of strong growth expected & higher USD. Co is
currently operating close to full capacity & plan to ramp up production
capacity of both its Malaysia & China plants to fill the expected
increase in sales order from major customers. Following the price rise, group
is trading at c10x FY07/15. We reckon the positives have been reflected. It
still faces customer concentration risk, whereby 2 major customers contribute
to 80% of sales. There is also competition risk as apparel manufacturing is a
globalized business. Continuous rising wage cost in China manufacturing may
also erode Prolexus's China profitability; Trim into strength, possible
buyback at RM1.84 ( 8x FY15).
(AK)
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MIECO (5001)
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26/06/2015
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RM0.675
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BUY on weakness
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RM0.80
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Share
price has remained relatively flat despite stronger showing from peers like
Heveaboard & Evergreen. In Q1, group registered stronger y-o-y
performance on the back of sustained domestic demand with increased selling
prices & delivery of higher margin products, coupled with lower raw
material costs. Management is optimistic of better performances in the
following quarters by improving product mix and management of key input
costs, while developing new designs, improving quality & enhancing
customer service. Potential re-rating catalysts include higher margins &
earnings delivery. Trading at undemanding multiple of c6.7x FY15 & a
laggard - Trading Buy ( TP RM 0.80 , 8x FY15).
(AK)
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Calls for JUNE WEEK 2 / WEEK 3 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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HAPSENG (3034)
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19/06/2015
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RM5.03
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TAKE PROFIT
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RM4.00
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RM5.13
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+2.5%
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ASTRO (6399)
|
19/06/2015
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RM2.97
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BUY
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RM3.40
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RM2.98
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+0.3%
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MBMR (5983)
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22/06/2015
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RM3.49
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TAKE PROFIT
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BB - RM2.80
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RM3.52
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+0.2%
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DIGI (6947)
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22/06/2015
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RM5.61
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ACCUMULATE
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RM6.48
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RM5.45
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-2.9%
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KNM (7164)
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23/06/2015
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RM0.54
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BUY
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RM0.62
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RM0.63
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+16.6%
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KESM (9334)
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23/06/2015
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RM3.83
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TRIM
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-
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RM3.75
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-2.1%
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OPCOM (0035)
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24/06/2015
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RM0.81
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ACCUMULATE
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RM1.10
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RM0.815
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+0.6%
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FAVCO (7229)
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24/06/2015
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RM2.82
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SELL into STR
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BB – RM2.31
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RM2.79
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-1.1%
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ENGTEX (5056)
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25/06/2015
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RM1.09
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BUY
|
RM1.22
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RM1.13
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+3.6%
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PANTECH (5125)
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25/06/2015
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RM0.675
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BUY on weakness
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RM0.93
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RM0.66
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-2.3%
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PERFORMANCE
ALERT
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STOCK
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Initiation
dates
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Initiation
price
|
Target
Price
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Action
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Returns
|
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SKPETRO (5218)
|
15/04/2015
|
RM2.40
|
RM2.75
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Take
profit
|
14.5%
|
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UNISEM (5005)
|
22/04/2015
|
RM2.60
|
BB
– RM2.30
|
Trading
buy
|
-
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SKPRES (7155)
|
08/05/2015
|
RM0.845
|
RM1.10
|
Take
profit
|
19.5%
|
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TOPGLOV (7113)
|
08/06/2015
|
RM5.47
|
-
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Trading
Sell
|
-
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KNM (7164)
|
23/06/2015
|
RM0.54
|
RM0.62
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Trading
Sell
|
13.0%
|
|
Performance
|
|
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Positive
|
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Negative
|
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Neutral
|
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