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GHL Systems grossly oversold, says HLIB Research
by Cals Mon 28 Dec 2015, 22:55
GHL Systems grossly oversold, says HLIB Research
By theedgemarkets.com / theedgemarkets.com | December 28, 2015 : 9:00 AM MYTKUALA LUMPUR (Dec 28): [size=16]Hong Leong IB Research said GHL Systems Bhd ([You must be registered and logged in to see this image.] Valuation: 0.40, Fundamental: 1.05) has been grossly oversold and that GHL Systems' share prices tumbled 25% from a six-month high of RM1.19 (July 23) to a low of 85 sen (Aug 12, 13 and 17) before ending at 89.5 sen on Dec 23.
In a note today, the research house said that at 89.5 sen, GHL Systems is trading at 2.45x P/B (FIG1), about 73% lower than domestic and international peers.
"We see limited downside risks as daily and weekly slow stochastic indicators are showing grossly oversold positions. Strong supports are situated at 85 sen to 88.5 sen.
"A decisive breakout above 91 sen will spur prices higher towards 94 sen to RM1.06 in the mid to long term. Cut loss at 84 sen," 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.)
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