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Hot Stock Oversold Focus Lumber rises 2.07% in early trade
by Cals Mon 11 May 2015, 01:49
Hot Stock
Oversold Focus Lumber rises 2.07% in early trade
KUALA LUMPUR (May 8): Shares of Focus Lumber Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) rose in early trade today afterHong Leong IB Research said the stock had been grossly oversold and was about to bottom out in near term, as substantiated by oscillators.
At 9.15am, Focus Lumber (Fundamental: 1.75; Valuation: 2.00) rose 2.07% or 3 sen to RM1.48 with 106,800 shares done.
In a note today, the research house said it was targeting RM1.52 and RM1.64 for Focus Lumber, with a long term objective of RM1.70.
“However, immediate supports are at RM1.42 and RM1.39. Cut loss below RM1.37,” it said.
HLIB Research said Focus Lumber’s export markets contributed approximately 98% of the group’s total revenue.
Thus, it said the company’s top and bottom line could be boosted by strong US dollar.
“The group has net cash per share of 57 sen which is equivalent to 39% of its share price and attractive dividend yield of 5.5%,” it said.
(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations. Go to [You must be registered and logged in to see this link.] for details on a company’s financial dashboard.)
Oversold Focus Lumber rises 2.07% in early trade
KUALA LUMPUR (May 8): Shares of Focus Lumber Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) rose in early trade today afterHong Leong IB Research said the stock had been grossly oversold and was about to bottom out in near term, as substantiated by oscillators.
At 9.15am, Focus Lumber (Fundamental: 1.75; Valuation: 2.00) rose 2.07% or 3 sen to RM1.48 with 106,800 shares done.
In a note today, the research house said it was targeting RM1.52 and RM1.64 for Focus Lumber, with a long term objective of RM1.70.
“However, immediate supports are at RM1.42 and RM1.39. Cut loss below RM1.37,” it said.
HLIB Research said Focus Lumber’s export markets contributed approximately 98% of the group’s total revenue.
Thus, it said the company’s top and bottom line could be boosted by strong US dollar.
“The group has net cash per share of 57 sen which is equivalent to 39% of its share price and attractive dividend yield of 5.5%,” it said.
(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations. Go to [You must be registered and logged in to see this link.] for details on a company’s financial dashboard.)
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