Being in the market at all times is not the key to profits. Being in the market when there is a clear, unconfused technical signal during a strong market, and the trader's judgment is not swayed by emotion, is a method for trading success. No matter how good the fundamentals and technicals are, stocks will have a high risk of failure during weak markets.
Friday, January 15, 2010
Gamuda's earnings to rebound strongly
Hwang-DBS Vickers Research says despite having highest executable orderbook in industry at MYR5.7 billion, Gamuda (5398.KU) not resting on its laurels, actively bidding for some MYR3 billion projects in Middle East, MYR1 billion locally, on top of 3 mega projects worth MYR17 billion-MYR18 billion. "There could be a flurry of contract wins in 1H10," says analyst Chong Tjen-San; expects Gamuda's earnings to rebound strongly with 3-year EPS CAGR of 30%, driven by large orderbook, revival in local property sales. Notes Gamuda's balance sheet continued to strengthen, with net gearing improving to 12% from 16% in 3QFY09, as payments continued to be prompt for its double-tracking project. Keeps at Buy with unchanged MYR4.20 target. Stock last +1.4% at MYR2.85. (ECH)
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