In a nutshell, our market view remains pretty much unchanged.
The domestic economic growth is expected to be decent at 4.7% in 2019 while big caps’ FY18E/FY19E earnings growth rates are estimated at 0.7%/6.9%.
Nonetheless, we believe the local market may still remain stuck in a range-bound mode until significant rerating catalysts are seen. While the downside could be cushioned, upside is uninspiring with our end-2019 Index Target pegged at 1,775, implying FY18E/FY19E PERs of 16.9x/15.8x.
Nonetheless, with >50% of listed stocks on Bursa Securities declining >20% in 2018, we believe values have emerged.
Therefore, in this quarter we focus on stocks that were sold down heavily. We have selected (i) AEON (OP, TP: RM2.00), (ii) BIMB (OP, TP: RM5.05), (iii) MBSB (OP, TP: RM1.25), (iv) OCK (OP, TP: RM0.570), (v) PADINI (OP, TP: RM4.05), (vi) PESTECH (OP, TP: RM1.45), (vii) PWROOT (OP, TP: RM1.65), (viii) SKPRES (OP, TP: RM1.25), (ix) UEMS (OP, TP: RM0.850) and (x) WCT (OP, TP: RM0.850) as our 1Q19 Top Picks.
Timing-wise, the ideal Buy on Weakness (B.O.W.) zone is between 1,670 and 1,620.
https://klse.i3investor.com/blogs/kenangaresearch/188501.jsp
Stock Name
|
Ref Date
|
Ref Price
|
Price Diff
|
Last
|
Range
|
Open
|
Change
|
Volume
|
Note
|
---|---|---|---|---|---|---|---|---|---|
AEON | 02-Jan-2019 | 1.47 | -0.06 | 1.41 | 1.40 - 1.43 | 1.40 | 0.00 | 119,600 | |
BIMB | 02-Jan-2019 | 3.57 | -0.57 | 3.00 | 2.92 - 3.00 | 2.95 | +0.02 | 968,900 | |
MBSB | 02-Jan-2019 | 0.925 | -0.39 | 0.535 | 0.53 - 0.54 | 0.535 | 0.00 | 2,532,900 | |
OCK | 02-Jan-2019 | 0.42 | +0.04 | 0.46 | 0.455 - 0.465 | 0.455 | +0.005 | 270,200 | |
PADINI | 02-Jan-2019 | 3.50 | -0.70 | 2.80 | 2.78 - 2.81 | 2.81 | 0.00 | 178,600 | |
PESTECH | 02-Jan-2019 | 0.995 | -0.18 | 0.815 | 0.81 - 0.84 | 0.825 | -0.01 | 2,496,900 | |
PWROOT | 02-Jan-2019 | 1.38 | -0.05 | 1.33 | 1.33 - 1.35 | 1.34 | -0.01 | 197,300 | |
SKPRES | 02-Jan-2019 | 1.05 | +0.69 | 1.74 | 1.70 - 1.76 | 1.74 | +0.01 | 1,006,300 | |
UEMS | 02-Jan-2019 | 0.665 | -0.345 | 0.32 | 0.32 - 0.33 | 0.33 | -0.005 | 253,600 | |
WCT | 02-Jan-2019 | 0.68 | -0.17 | 0.51 | 0.51 - 0.52 | 0.515 | -0.01 | 640,400 |
OUT OF 10 STOCK PICKS 8 ENDED UP RED RED
TOTALLY MISSED ALL THE OGSE STILLS OF 2019
KENANGA IB GAVE NEUTRAL CALL ON PALM OIL WILL ALSO MISS THE PALM OIL BULL RUN OF 2022
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