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Strategy Stock specific pick amid volatility

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Strategy Stock specific pick amid volatility Empty Strategy Stock specific pick amid volatility

Post by Cals Tue 08 Jul 2014, 08:36

Strategy Stock specific pick amid volatility
Business & Markets 2014
Written by Hong Leong IB Research   
Monday, 07 July 2014 08:44

KUALA LUMPUR (July 7): Earnings revision cycle unlikely to reverse.  Subdued growth unlikely to excite as valuation is not compelling.  Maintain end 2014 FBM KLCI target at 1,910 (16x 2015 earnings).
Resurgence of twin macro headwinds to affect sentiment but impact on market likely more muted as average CPO price still higher yoy and cumulative foreign net inflow off peak.
Historically, rate hike induced short-term fluctuation, largely influenced by finance index.  Consumer and plantation unaffected but construction and property suffered.  However, all resumed uptrends from 5th month onwards.
Coupled with potential re-emergence of US rate hike talk at the tail-end of Fed tapering, could induce volatility.
Thus, still prefer stock specific selection for alpha with focus on growth (future valuation will decline faster), Visit Malaysia Year beneficiaries and value (with specific catalyst).
Top picks – Astro, Brahims’, KNM, MAHB, Maybank, Pharmaniaga, QCT, RHB Cap, SK Petro, and Tambun.
 
Cals
Cals
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