April 19, 2013

Public Investment raises TNB's target price

Stock Name: TENAGA
Company Name: TENAGA NASIONAL BHD
Research House: PUBLIC BANKPrice Call: BUYTarget Price: 8.85



Public Investment Bank raised the target price of Tenaga Nasional Bhd to RM8.85 per share from RM7.76 after the second quarter earnings of the country's largest electricity utility beat market expectations.

"We continue to like Tenaga for its defensive nature and its position as the biggest winner of structural reforms in the local power sector," the research house said in a note on Friday.

"Besides earnings growth from its capacity expansion, the group is also poised to benefit from the fuel cost pass-through mechanism which would see its earnings being based on rewards for efficiency instead of subject to forces beyond its control," it added.

Maintaining 'outperform' on the counter, Public Investment said it believes the fuel cost pass-through mechanism could be implemented once the general elections are over.

Tenaga posted on Thursday a higher-than-expected net profit of RM1.27 billion for the second quarter ended in February, driven by forex gains and lower coal costs.

Shares of Tenanga rose 0.13 per cent to RM7.96, while the benchmark stock index climbed 0.07 per cent.-- Reuters

Getting the vote of confidence

Stock Name: TENAGA
Company Name: TENAGA NASIONAL BHD
Research House: MIDFPrice Call: BUYTarget Price: 8.20



More from Bursa Suq Al-Sila' in the days ahead

Stock Name: BURSA
Company Name: BURSA MALAYSIA BHD
Research House: MIDFPrice Call: BUYTarget Price: 8.20



April 18, 2013

Acquired Rawang Specialist Hospital

Stock Name: KPJ
Company Name: KPJ HEALTHCARE BHD
Research House: MIDFPrice Call: BUYTarget Price: 6.55



MIDF starts Dayang with 'buy' call

Stock Name: DAYANG
Company Name: DAYANG ENTERPRISE HOLDINGS BHD
Research House: MIDFPrice Call: BUYTarget Price: 3.95



MIDF Research initiated coverage on Dayang Enterprise Holdings Bhd with a 'buy' recommendation and a target price of RM3.95 per share, citing good earnings visibility and healthy financials among reasons.

The research house also sees the oil and gas maintenance and support services firm as a key beneficiary to the RM8-10 billion (US$2.64-3.30 billion) Pan Malaysia hookup and commissioning works.

"In our earnings forecasts, we anticipate Dayang to win RM1 billion (US$329.9 million) from the Pan Malaysia hookup and commissioning works in 2013, with earnings being booked in the latter part of the year," MIDF said in a note on Thursday.

Shares of Dayang has surged 44.12 percent year-to-date. As of 0957am (0157 GMT), the counter remained unchanged at RM3.43 , while the benchmark stock index declined 0.37 percent.

Earnings Muted by Higher Cost and Tax Rate

Stock Name: F&N
Company Name: FRASER & NEAVE HOLDINGS BHD
Research House: TAPrice Call: SELLTarget Price: 17.90



April 17, 2013

Lost in Arbitration

Stock Name: GAMUDA
Company Name: GAMUDA BHD
Research House: TAPrice Call: HOLDTarget Price: 4.52



Kicking-Off Tun Razak Exchange

Stock Name: WCT
Company Name: WCT BHD
Research House: TAPrice Call: HOLDTarget Price: 2.60



RM169m first package of TRX’s earthworks job

Stock Name: WCT
Company Name: WCT BHD
Research House: MIDFPrice Call: BUYTarget Price: 2.97



New JVC to develop 207 acres in Puteri Harbour

Stock Name: UEMLAND
Company Name: UEM LAND HOLDINGS BHD
Research House: MIDFPrice Call: BUYTarget Price: 2.97



Export focus to start yielding soon

Stock Name: MSM
Company Name: MSM MALAYSIA HOLDINGS BERHAD
Research House: MIDFPrice Call: HOLDTarget Price: 4.43



Arbitration loss a small hiccup

Stock Name: GAMUDA
Company Name: GAMUDA BHD
Research House: MIDFPrice Call: BUYTarget Price: 4.71



A good start

Stock Name: CMMT
Company Name: CAPITAMALLS MALAYSIA TRUST
Research House: MIDFPrice Call: HOLDTarget Price: 1.75



Strong liquidity likely to remain supportive of equity trades

Stock Name: BURSA
Company Name: BURSA MALAYSIA BHD
Research House: MIDFPrice Call: BUYTarget Price: 7.40