Kreuz has consolidated for about 3 weeks below 0.700. Have seen a break out above the channel resistance yesterday, downward sloping line which can signal a reversal in downward trend. Note that at this level it has also broke above the 20 DAY MA (Green line) where short term momentum is stronger. Horizontal resistance level at 0.705 which it was below for 3 weeks has been tested and cleared today. As long as 0.700 remains as new resistance turned support, upside in the coming days possible with a near term target of 0.75 to 0.76. A break above 0.800 can see it surge up to find new high.
Stop loss at 0.69 for short term trades.
DBSV – 17 June 2013
Go for high conviction growth and value stocks. As
macro recovery remains modest, pick stocks where
earnings growth is highly visible and sustainable:Ezion
(TP S$3.00) will continue to outperform on secured
contracts and its unique market positioning; Tat Hong
(TP: S$1.80) is positioned to benefit from the regional
infrastructure boom; Del Monte (TP: S$0.97) is a proxy
to Philippines, SEA’s 2nd largest consumer market.
Kreuz (TP: S$0.78) is our top pick in the O&G services
sector for its proven execution track record while Midas
(TP: S$0.60) is poised for earnings recovery backed by its
growing order book. For value, Vard (TP: S$1.46) is a
bargain at 6.3x FY14PE vs normalized 10x PE.
macro recovery remains modest, pick stocks where
earnings growth is highly visible and sustainable:Ezion
(TP S$3.00) will continue to outperform on secured
contracts and its unique market positioning; Tat Hong
(TP: S$1.80) is positioned to benefit from the regional
infrastructure boom; Del Monte (TP: S$0.97) is a proxy
to Philippines, SEA’s 2nd largest consumer market.
Kreuz (TP: S$0.78) is our top pick in the O&G services
sector for its proven execution track record while Midas
(TP: S$0.60) is poised for earnings recovery backed by its
growing order book. For value, Vard (TP: S$1.46) is a
bargain at 6.3x FY14PE vs normalized 10x PE.
UOBKH – 21 June 2013
Oil Service - Back to basics.
Ezion Holdings (EZI SP/BUY/Target: S$2.60).Kreuz Holdings (KRZ SP/BUY/Target: S$0.88).
Nam Cheong (NCL SP/BUY/Target: S$0.34).
Triyards (ETL SP/BUY/Target: S$1.11).
As global economic growth picks up, we expect a more uniform gradual
uptrend in charter rates. The oil service sector still trades at a 37%
discount to its long-term P/B mean of 1.78x and has been a consistent
early-recovery cyclical play. Our top picks are Ezion, Kreuz, Nam Cheong
and Triyards. Maintain OVERWEIGHT.
Ezion Holdings (EZI SP/BUY/Target: S$2.60).Kreuz Holdings (KRZ SP/BUY/Target: S$0.88).
Nam Cheong (NCL SP/BUY/Target: S$0.34).
Triyards (ETL SP/BUY/Target: S$1.11).
As global economic growth picks up, we expect a more uniform gradual
uptrend in charter rates. The oil service sector still trades at a 37%
discount to its long-term P/B mean of 1.78x and has been a consistent
early-recovery cyclical play. Our top picks are Ezion, Kreuz, Nam Cheong
and Triyards. Maintain OVERWEIGHT.
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