Stock Name: SKPETRO
Company Name: SAPURAKENCANA PETROLEUM BHD
Company Name: SAPURAKENCANA PETROLEUM BHD
| Research House: TA | Price Call: BUY | Target Price: 3.83 |
March 22, 2013
Harvesting the fruits of merger - stronger years beckon
Stock Name: SKPETRO
Company Name: SAPURAKENCANA PETROLEUM BHD
Company Name: SAPURAKENCANA PETROLEUM BHD
| Research House: MIDF | Price Call: BUY | Target Price: 3.96 |
Disappointing 3QFY13 after strong 1HFY13
Stock Name: NEXTNAT
Company Name: NEXTNATION COMMUNICATION BHD
Company Name: NEXTNATION COMMUNICATION BHD
| Research House: TA | Price Call: SELL | Target Price: 0.08 |
March 21, 2013
TA raises Glomac target price
Stock Name: GLOMAC
Company Name: GLOMAC BHD
TA Securities raised its target price on Glomac Bhd to RM1.17 per share from 98 sen, saying it expects the property developer to secure higher sales through financial year 2015.
"The increase in sales projections is to reflect stronger-than-expected sales from its existing township projects, and higher potential gross development value for the group's new township developments in Puchong and Dengkil," TA said in a research note on Thursday.
The research house said it projects Glomac to secure new sales of RM760 million in the financial year ending April 30, 2013 (FY13), RM890 million in FY14 and RM953 million in FY15.
"We keep our FY13 earnings unchanged," said TA. "However, we tweak our FY14 and FY15 net profit forecasts upward by 4.3 per cent and 4.8 per cent respectively to account for changes in our sales assumptions."
TA maintained 'buy' on Glomac.
The counter dropped 0.51 per cent to 98 sen a share, while the KL property stocks index declined 0.96 per cent.-- Reuters
Company Name: GLOMAC BHD
| Research House: TA | Price Call: BUY | Target Price: 1.17 |
TA Securities raised its target price on Glomac Bhd to RM1.17 per share from 98 sen, saying it expects the property developer to secure higher sales through financial year 2015.
"The increase in sales projections is to reflect stronger-than-expected sales from its existing township projects, and higher potential gross development value for the group's new township developments in Puchong and Dengkil," TA said in a research note on Thursday.
The research house said it projects Glomac to secure new sales of RM760 million in the financial year ending April 30, 2013 (FY13), RM890 million in FY14 and RM953 million in FY15.
"We keep our FY13 earnings unchanged," said TA. "However, we tweak our FY14 and FY15 net profit forecasts upward by 4.3 per cent and 4.8 per cent respectively to account for changes in our sales assumptions."
TA maintained 'buy' on Glomac.
The counter dropped 0.51 per cent to 98 sen a share, while the KL property stocks index declined 0.96 per cent.-- Reuters
JV with one of the largest developers in Japan
Stock Name: E&O
Company Name: EASTERN & ORIENTAL BHD
Company Name: EASTERN & ORIENTAL BHD
| Research House: MIDF | Price Call: BUY | Target Price: 1.91 |
March 20, 2013
Growth Opportunities in Islamic Finance
Stock Name: MAYBANK
Company Name: MALAYAN BANKING BHD
Company Name: MALAYAN BANKING BHD
| Research House: TA | Price Call: BUY | Target Price: 11.30 |
Affin downgrades UMW to 'reduce'
Stock Name: UMW
Company Name: UMW HOLDINGS BHD
Affin Investment Bank downgraded UMW Holdings Bhd to 'reduce' from 'add', with an unchanged fair value of RM12.40 per share, saying the automotive-to-oil and gas conglomerate is fully valued now and offers less compelling risk-reward.
"We continue to like management's drive and handle of the company, and this tactical downgrade is predominantly in reference to valuations as opposed to operational issues," the research house said in a note on Wednesday.
Affin said the risk-reward of UMW is less compelling now given potential earnings headwinds as the automotive sector faces intense competition. It said investors have priced in the listing of the oil and gas division with an estimated market capitalisation of RM1.5 billion.
"All in, we opine that our street-centric earnings is already embedded with a positive analyst bias and as such, there may be limited scope for potential earnings surprises in 2013," it added.
Shares of UMW rose 85.17 per cent over the past one year, while the benchmark stock index climbed 3.18 per cent.
The counter remained unchanged at RM13.24 per share, outperforming the benchmark stock index's 0.17 per cent drop.-- Reuters
Company Name: UMW HOLDINGS BHD
| Research House: AFFIN | Price Call: SELL | Target Price: 12.40 |
Affin Investment Bank downgraded UMW Holdings Bhd to 'reduce' from 'add', with an unchanged fair value of RM12.40 per share, saying the automotive-to-oil and gas conglomerate is fully valued now and offers less compelling risk-reward.
"We continue to like management's drive and handle of the company, and this tactical downgrade is predominantly in reference to valuations as opposed to operational issues," the research house said in a note on Wednesday.
Affin said the risk-reward of UMW is less compelling now given potential earnings headwinds as the automotive sector faces intense competition. It said investors have priced in the listing of the oil and gas division with an estimated market capitalisation of RM1.5 billion.
"All in, we opine that our street-centric earnings is already embedded with a positive analyst bias and as such, there may be limited scope for potential earnings surprises in 2013," it added.
Shares of UMW rose 85.17 per cent over the past one year, while the benchmark stock index climbed 3.18 per cent.
The counter remained unchanged at RM13.24 per share, outperforming the benchmark stock index's 0.17 per cent drop.-- Reuters
March 19, 2013
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