Stock Name: KMLOONG
Company Name: KIM LOONG RESOURCES BHD
Company Name: KIM LOONG RESOURCES BHD
| Research House: ALLIANCE | Price Call: SELL | Target Price: 1.73 |
March 29, 2013
Kenanga raises Yinson target price
Stock Name: YINSON
Company Name: YINSON HOLDINGS BHD
Kenanga Research raised its target price on Yinson Holdings Bhd to RM2.86 per share from RM2.71 previously after the construction-to-shipping services firm's net profit for the full year ended January 31, 2013 (FY2013) beat estimates by both the research house and the market.
The research house, in a note on Friday, lifted its FY2014 and FY2015 net profit outlook to RM55.8 million and RM79.9 million respectively, mainly due to the stronger-than-expected performance in FY2013.
"In the long run, we are positive on the company as its growth trajectory is accelerating," Kenanga said. "The company is looking to kick-start its FSO (floating, storage and offloading) operations in early FY2014 and FPSO (floating, production, storage and offloading) operations in FY2015."
As of 10.15am, the counter remained unchanged at RM2.54 per share, while the benchmark stock index was down 0.06 per cent.-- Reuters
Company Name: YINSON HOLDINGS BHD
| Research House: KENANGA | Price Call: BUY | Target Price: 2.86 |
Kenanga Research raised its target price on Yinson Holdings Bhd to RM2.86 per share from RM2.71 previously after the construction-to-shipping services firm's net profit for the full year ended January 31, 2013 (FY2013) beat estimates by both the research house and the market.
The research house, in a note on Friday, lifted its FY2014 and FY2015 net profit outlook to RM55.8 million and RM79.9 million respectively, mainly due to the stronger-than-expected performance in FY2013.
"In the long run, we are positive on the company as its growth trajectory is accelerating," Kenanga said. "The company is looking to kick-start its FSO (floating, storage and offloading) operations in early FY2014 and FPSO (floating, production, storage and offloading) operations in FY2015."
As of 10.15am, the counter remained unchanged at RM2.54 per share, while the benchmark stock index was down 0.06 per cent.-- Reuters
Upgrade to Hold
Stock Name: CRESNDO
Company Name: CRESCENDO CORPORATION BHD
Company Name: CRESCENDO CORPORATION BHD
| Research House: TA | Price Call: HOLD | Target Price: 2.23 |
No Visible Catalyst Yet
Stock Name: UMCCA
Company Name: UNITED MALACCA BHD
Company Name: UNITED MALACCA BHD
| Research House: TA | Price Call: SELL | Target Price: 6.00 |
March 28, 2013
TA starts Hartalega with 'buy'
Stock Name: HARTA
Company Name: HARTALEGA HOLDINGS BHD
TA Securities initiated coverage on Hartalega Holdings Bhd with a 'buy' rating and a target price of RM5.50, citing the world's largest synthetic rubber glove maker's production efficiency, nitrile capacity and industry high operating margins among reasons.
"Hartalega currently pays out around 45 per cent of net profit," the research house said in a note on Thursday.
"Considering proceeds from capital gains and dividends, this provides a potential total upside of 16 per cent."
Higher net profit margins due to automation and production efficiency, and Hartalega's upcoming new glove manufacturing complex could well translate into positive factors for the share price, it added.
TA's target price on Hartalega is 12.2 per cent higher than the stock's last traded price of RM4.90.
Key downside risks to TA's fair value include falling profit margins and lower-than-expected average selling price due to strong competition, according to TA.
As of 9.47am, the counter remained unchanged at RM4.90, while the benchmark stock index rose 0.19 per cent.-- Reuters
Company Name: HARTALEGA HOLDINGS BHD
| Research House: TA | Price Call: BUY | Target Price: 5.50 |
TA Securities initiated coverage on Hartalega Holdings Bhd with a 'buy' rating and a target price of RM5.50, citing the world's largest synthetic rubber glove maker's production efficiency, nitrile capacity and industry high operating margins among reasons.
"Hartalega currently pays out around 45 per cent of net profit," the research house said in a note on Thursday.
"Considering proceeds from capital gains and dividends, this provides a potential total upside of 16 per cent."
Higher net profit margins due to automation and production efficiency, and Hartalega's upcoming new glove manufacturing complex could well translate into positive factors for the share price, it added.
TA's target price on Hartalega is 12.2 per cent higher than the stock's last traded price of RM4.90.
Key downside risks to TA's fair value include falling profit margins and lower-than-expected average selling price due to strong competition, according to TA.
As of 9.47am, the counter remained unchanged at RM4.90, while the benchmark stock index rose 0.19 per cent.-- Reuters
Brighter prospects in Asia Pacific amid high fuel price
Stock Name: AIRPORT
Company Name: MALAYSIA AIRPORTS HOLDINGS BHD
Company Name: MALAYSIA AIRPORTS HOLDINGS BHD
| Research House: MIDF | Price Call: BUY | Target Price: 6.72 |
Scientex Berhad: An Even Brighter Outlook Ahead
Stock Name: SCIENTX
Company Name: SCIENTEX BERHAD
Company Name: SCIENTEX BERHAD
| Research House: TA | Price Call: HOLD | Target Price: 4.10 |
March 27, 2013
Affin downgrades TM to 'reduce'
Stock Name: TM
Company Name: TELEKOM MALAYSIA BHD
Affin Investment Bank downgraded Telekom Malaysia Bhd to 'reduce' from 'add' and cut its target price to RM5.16 from RM6.04, citing a slower-than-expected reduction in the telco's capital expenditure and slowing net adds for the Internet division going forward.
"All in, we see limited further near-term re-rating catalyst for the stock," the research house said in a note on Wednesday.
The slower-than-expected cut in capital expenditure means that there is limited catalyst for a hike in dividend. Also, Telekom Malaysia may not be able to pay a higher dividend due to its RM2 billion loan obligation due by year end, Affin said.
"Conversely, the latter factor (slowing net adds from Telekom Malaysia's internet division) depicts risk of slowing earnings momentum, and occurring even prior to competition from the Astro-Maxis collaboration," it said.
The voice segment, which contributed up to 37 per cent of Telekom Malaysia's revenue, is also unlikely to see any meaningful recovery, Affin said.
As of 10.58am, the shares were up 0.56 per cent at RM5.40. The benchmark stock index increased 0.69 per cent.-- Reuters
Company Name: TELEKOM MALAYSIA BHD
| Research House: AFFIN | Price Call: SELL | Target Price: 5.16 |
Affin Investment Bank downgraded Telekom Malaysia Bhd to 'reduce' from 'add' and cut its target price to RM5.16 from RM6.04, citing a slower-than-expected reduction in the telco's capital expenditure and slowing net adds for the Internet division going forward.
"All in, we see limited further near-term re-rating catalyst for the stock," the research house said in a note on Wednesday.
The slower-than-expected cut in capital expenditure means that there is limited catalyst for a hike in dividend. Also, Telekom Malaysia may not be able to pay a higher dividend due to its RM2 billion loan obligation due by year end, Affin said.
"Conversely, the latter factor (slowing net adds from Telekom Malaysia's internet division) depicts risk of slowing earnings momentum, and occurring even prior to competition from the Astro-Maxis collaboration," it said.
The voice segment, which contributed up to 37 per cent of Telekom Malaysia's revenue, is also unlikely to see any meaningful recovery, Affin said.
As of 10.58am, the shares were up 0.56 per cent at RM5.40. The benchmark stock index increased 0.69 per cent.-- Reuters
Dented by taxes and head office expenses
Stock Name: BJLAND
Company Name: BERJAYA LAND BHD
Company Name: BERJAYA LAND BHD
| Research House: CIMB | Price Call: SELL | Target Price: 0.77 |
March 26, 2013
Cheap entry point for dividends
Stock Name: STAR
Company Name: STAR PUBLICATIONS (M) BHD
Company Name: STAR PUBLICATIONS (M) BHD
| Research House: MIDF | Price Call: BUY | Target Price: 3.30 |
Dealing with Cost Pressure
Stock Name: JADI
Company Name: JADI IMAGING HOLDINGS BHD
Company Name: JADI IMAGING HOLDINGS BHD
| Research House: TA | Price Call: SELL | Target Price: 0.09 |
One hull of a boat
Stock Name: ALAM
Company Name: ALAM MARITIM RESOURCES BHD
Company Name: ALAM MARITIM RESOURCES BHD
| Research House: CIMB | Price Call: BUY | Target Price: 1.53 |
March 25, 2013
Growth catalysts intact
Stock Name: SKPETRO
Company Name: SAPURAKENCANA PETROLEUM BHD
Company Name: SAPURAKENCANA PETROLEUM BHD
| Research House: TA | Price Call: BUY | Target Price: 4.15 |
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