Excerpts from latest analyst reports....

DMG sets 50-cent target for MIDAS on FY13 recovery

Analysts: Melissa Yeap & Terence Wong, CFA

Midas CEO, Patrick Chew. Photo: company

FY12 will be lacklustre. 2H12 is likely to remain weak, as there are few orders to be delivered during this period.

With the recent stimulus for the railway industry, we believe Midas would be able to grow its order book, increase the utilisation at its lines and progress towards a recovery from FY13.

During 2009 and 2011 when there was good order flow, Midas traded above 2.0x P/B.

Given the positive outlook for the industry and the potential order flows, we think Midas should trade higher than its current 0.8x P/B.

Pegging it to 1.0x FY13 P/B, we arrive at a TP of S$0.50. We upgrade our recommendation to BUY.



Recent story: DBS Vickers' small/mid-cap picks, HI-P is DMG's sure bet

Maybank KE has $1.90 target for CWT

Analyst: James Koh

Loi Pok Yen, Group CEO of CWT. NextInsight file photo

CWT announced yesterday a minor acquisition of another commodity trading house, LN Metals International (LN), for a total consideration of USD12.3m (SGD15.4m).

The price was mostly decided on book value.

 While earnings accretion is only likely some 6-9 months down the road from completion, this acquisition is aimed at improving CWT’s capabilities via the integration of several key personnel and adding to CWT’s commodity trading volume.

 We continue to see significant value in this growth stock and reiterate our SGD100m FY12 profit estimate, which is ahead of the street.

We also adjust FY13-FY14F earnings upwards by 3-7% and maintain BUY with SOTP TP of $1.90.


Share Prices

Counter NameLastChange
AEM Holdings4.1000.090
Avi-Tech Electronics0.480-0.005
Best World Int.1.360-
China Sunsine0.480-0.005
CNMC GoldMine0.265-0.010
CSE Global0.5150.015
Food Empire0.7650.005
Golden Energy0.1670.002
GSS Energy0.0660.003
ISDN Holdings0.7900.055
IX Biopharma0.270-
JB Foods0.5700.010
KSH Holdings0.360-
Medtecs Intl1.1500.040
Moya Asia0.077-
Nordic Group0.250-
Oxley Holdings0.2300.005
REX International0.1590.005
Sri Trang Agro1.4100.040
Straco Corp.0.575-
Sunningdale Tech1.6300.010
Sunpower Group0.960-0.010
The Trendlines0.0980.002
UG Healthcare0.7600.020
Uni-Asia Group0.595-0.020
Yangzijiang Shipbldg1.0700.010

NextInsight RSS

rss_2 NextInsight - Latest News

Online Now

We have 709 guests and one member online

  • sp71171