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Thursday, June 27, 2013

Cheaper proxy to Favco (HuangDBS)

(OSK) Muhibbah  may  climb  further  after  the  strong  move  yesterday. Purchase  can  be  made  if  the  stock  closes  above  MYR1.50,  with  a close  below  MYR1.40  as  a  stop-loss.  Price  target  is  MYR1.75,  if  the recent  high  of  MYR1.60  is  broken.  Failure  to  get  above  MYR1.50, however,  could  leave  the  stock  trading  sideways  and  it  could  slide further if the stop-loss is triggered. 

Muhibbah Engineering, Buy; RM1.50 (HuangDBS)
Price Target : RM2.15; MUHI MK
Cheaper proxy to Favco
Cheap proxy to Favelle Favco with exposure to other growing segments. RAPID projects and Myanmar
airports biddings still key catalysts. Attractive valuation with 4-6x FY13-15 PE. Maintain BUY with RM2.15 TP (SOP valuation)

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