Brokers' take
Midas Holdings | Buy
March 2 close: S$0.315
Target price: S$0.49
DBS Group Research, March 2
FY14 earnings above expectations, growing 19 per cent year on year to 56.6 million yuan, led by Q4 recovery.
Final DPS (dividend per share) of 0.25 Singapore cents declared (same as FY13).
On track for earnings recovery in 2015, and especially 2016 as its aluminium plates and sheets plant ramps up over the next two years.
Sinarmas Land | Buy
March 2 close: S$0.77
Target price: S$0.96
Phillip Securities Research, March 2
NET profit above our expectations bolstered by divestment gain of London asset.
Joint venture (JV) projects Indonesia Convention Exhibition and AEON Mall BSD City to commence operations in 2015, augmenting the recurring income.
Looking to expand footprint in China with the wavier of existing undertakings between the company and Bund Center Investment Ltd.
A final dividend of 0.5 cents per share declared.
Maintain "buy" with unchanged target price of $0.96.
Super Group | Sell
March 2 close: S$1.29
Target price: S$0.92
DMG & Partners Research, March 2
SUPER Group's FY14 results were above expectations, with recurring net profit coming in at S$61.3 million. We are positive on management's branding and innovation strategy, but believe payoff is unlikely in the foreseeable future amidst the intense competition in this product category.
Maintain "sell", with a target price of S$0.92 (23 per cent downside).
China Merchants Holdings (Pacific) | Add
March 2 close: S$1.07
Target price: S$1.16
CIMB Research, March 1
AT 99 per cent of our forecast, CMH's FY14 core net profit was in line with our expectations. However, we cut FY15-17 core earnings per share by 8-11 per cent to adjust for the possible conversion of all the remaining convertible bonds. During the analyst briefing, management confirmed that CMH would continue to pursue growth through acquisitions, by capitalising on its leveraging capability.
Compiled by Kenneth Lim
Disclaimer: All analyses, recommendations and other information herein are published for general information. Readers should not rely solely on the information published and should seek independent financial advice prior to making any investment decision. The publisher accepts no liability for any loss whatsoever arising from any use of the information published herein.
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