|
FLOWS
|
Monday, 14 September, 2015
|
||||||||
|
BUY
|
GENTING
|
||||||||
|
SELL
|
MISC, TM
|
||||||||
|
STOCK ALERT
|
|||||||||
|
STOCK NAME
|
DATE
|
PRICE
|
BUY/SELL
|
TARGET PRICE
|
|||||
|
PENERGY (5133)
|
14/09/2015
|
RM1.03
|
ACCUMULATE
|
RM1.33
|
|||||
|
HY15 results were back in line, after a stronger Q2.
The development of the KBM cluster fields was a success, now producing about
15k barrels/day. Although earnings will only start in 2016, group is
progressively recouping the development capex, thereby reducing its gearing
& interest expense. Stronger earnings are expected in the coming quarters
driven by increased activities under the Petronas HUC/TMM contract and the
Gemusut-Kakap topside maintenance contract. We view the current price
weakness a buying opportunity. Trading at an undemanding 8x FY16 with
diminished risk in the KBM development & improved earnings outlook
supported by long term services contracts – Accumulate (TP RM 1.33 based on
10x FY16).
(AK)
 |
|||||||||
|
UNISEM (5005)
|
14/09/2015
|
RM1.89
|
Trading BUY
|
RM2.26
|
|||||
|
The share price has retraced c20% over the past 2 months.
The group’s 1H15 core earnings were broadly in line. Management has guided
for mid-single digit growth in 2015 even from a high base in 2014, with
Communications and Automotive segments being the key drivers. Smartphones are
forecasted to register a 5-year revenue CAGR of high single-digit. We expect
a better performance in 2H15, driven by a pick-up in seasonal demand and new
capacity in advanced packages. Sustainable margin improvements and a higher
dividend payout are potential catalysts. Trading at 12x FY16 ( vs mean of 16x
& OSAT players average of 14x) – Trading Buy ( TP RM 2.26, based on 14x
FY16 ).
(AK)
 |
|||||||||
|
|
|||||||||
|
Calls for SEPT WEEK 1 WEEK 2 2015
|
|||||||||
|
STOCK
|
Initiation Dates
|
Initiation price
|
BUY/SELL
|
TARGET PRICE
|
LAST PRICE
|
% Change since Initiated
|
|||
|
KAWAN (7216)
|
07/09/2015
|
RM2.36
|
ACCUMULATE
|
RM3.14
|
RM2.45
|
+2.44%
|
|||
|
LITRAK (6645)
|
07/09/2015
|
RM5.16
|
TRIM
|
BB - RM4.60
|
RM5.09
|
-1.4%
|
|||
|
TGUAN (7034)
|
08/09/2015
|
RM1.71
|
ACCUMULATE
|
RM1.92
|
RM1.72
|
+0.5%
|
|||
|
GENP (2291)
|
08/09/2015
|
RM9.87
|
TRIM
|
BB - RM4.60
|
RM9.90
|
+0.3%
|
|||
|
MMSV (0113)
|
09/09/2015
|
RM0.65
|
BUY
|
RM0.75
|
RM0.665
|
+0.7%
|
|||
|
GHLSYS (0021)
|
09/09/2015
|
RM1.00
|
SELL into STR
|
-
|
RM1.00
|
0.0%
|
|||
|
WCT (9679)
|
10/09/2015
|
RM1.26
|
BUY on weakness
|
RM1.46
|
RM1.21
|
-4.0%
|
|||
|
PCHEM (5183)
|
10/09/2015
|
RM6.04
|
TRIM
|
-
|
RM6.05
|
+0.1%
|
|||
|
TNLOGIS (8397)
|
11/09/2015
|
RM1.02
|
BUY on weakness
|
RM1.16
|
RM1.04
|
+1.9%
|
|||
|
MATRIX (5236)
|
11/09/2015
|
RM2.30
|
BUY
|
RM2.80
|
RM2.31
|
+0.4%
|
|||
|
PERFORMANCE
ALERT
|
|||||
|
STOCK
|
Initiation dates
|
Initiation price
|
Target Price
|
Action
|
Returns
|
|
TOPGLOV (7113)
|
08/06/2015
|
RM5.47
|
-
|
Trading
Sell
|
-
|
|
XINHWA (5267)
|
03/08/2015
|
RM1.03
|
1.20
|
Buy
Back
|
-
|
|
KAREX (5247)
|
07/08/2015
|
RM3.10
|
RM3.80
|
Buy
Back
|
-
|
|
Performance
|
|
|
Positive
|
|
|
Negative
|
|
|
Neutral
|
|
