|
FLOWS
|
Wednesday, 2 September, 2015
|
||||||||
|
BUY
|
TENAGA,
DIGI
|
||||||||
|
SELL
|
GENM,
IOICORP, SIME
|
||||||||
|
STOCK ALERT
|
|||||||||
|
STOCK NAME
|
DATE
|
PRICE
|
BUY/SELL
|
TARGET PRICE
|
|||||
|
CARING (5245)
|
02/09/2015
|
RM1.33
|
TRIM
|
BB - RM1.15
|
|||||
|
Two
consecutive quarterly earnings disappointments and overall slowdown in the
economy sent the stock down to a record low of RM1.00. Management however
remains committed to opening about 10 new outlets in 2015 which will continue
to impact bottom line due competition from independent pharmacies and the
high costs incurred in maintaining pharmacists at these outlets. The stock is
hitting a technical resistance ard the RM1.30 after the rebound in the past
week with rich valuation of 19x fwd PE. We recommend a trim with a buy back
below RM1.15.
(DN)
 |
|||||||||
|
SUPERMX(7106)
|
02/09/2015
|
RM2.09
|
ACCUMULATE
|
RM2.60
|
|||||
|
Px
has declined since disappointing first 6mths numbers attributed to lower ASPs
amid intensifying competition among glove manufacturers and lower volume
sales growth not being sufficient to compensate declining ASPs with the delay
in its expansion plans. By
1QCY16, Supermax is expecting an additional capacity of 5bn gloves/annum
coming on stream. After taking into account earnings downgrades the stock is
now trading at a fair value of 12x vs industry leaders in the high teens.
Ahead of the new capacity coming on line we expect the stock to trade closer
back to mid teen valuations with a target px of RM2.60. Accumulate on
weakness.
(DN)
 |
|||||||||
|
|
|||||||||
|
Calls for AUGUST WEEK 4 SEPT WEEK 1 2015
|
|||||||||
|
STOCK
|
Initiation Dates
|
Initiation price
|
BUY/SELL
|
TARGET PRICE
|
LAST PRICE
|
% Change since Initiated
|
|||
|
GENM (4715)
|
25/08/2015
|
RM3.80
|
SELL into STR
|
RM3.20 – 3.50
|
RM4.01
|
+5.5%
|
|||
|
KPJ (5878)
|
25/08/2015
|
RM4.12
|
SELL into STR
|
RM3.50
|
RM4.19
|
+1.6%
|
|||
|
AXIATA (6888)
|
26/08/2015
|
RM6.12
|
TAKE PROFIT
|
-
|
RM6.11
|
-0.2%
|
|||
|
SIGN (7246)
|
26/08/2015
|
RM1.90
|
BUY on weakness
|
RM2.60
|
RM1.90
|
0.0%
|
|||
|
MALAKOFF(5264)
|
27/08/2015
|
RM1.29
|
Trading BUY
|
RM1.66
|
RM1.48
|
+14.7%
|
|||
|
PADINI (7052)
|
27/08/2015
|
RM1.32
|
TRIM
|
RM1.14
|
RM1.38
|
+4.5%
|
|||
|
PRESBHD(5204)
|
28/08/2015
|
RM1.75
|
BUY
|
RM2.10
|
RM1.70
|
-2.9%
|
|||
|
HEVEA (5095)
|
28/08/2015
|
RM0.935
|
BUY
|
RM1.17
|
RM0.94
|
+0.5%
|
|||
|
WPRTS (5246)
|
01/09/2015
|
RM4.20
|
SELL into STR
|
RM3.70
|
RM4.22
|
+0.4%
|
|||
|
SASBADI (5252)
|
01/09/2015
|
RM2.25
|
ACCUMULATE
|
RM1.17
|
RM2.20
|
-2.3%
|
|||
|
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
|
|