Reflections on Volume

Big volume without further upside equals distribution
Big volume without further downside equals accumulation

Volume tends to peak at turning points
Volume often precedes price movement
Volume is a relative study

Wednesday, January 2, 2013

More growth seen in DiGi this year

Affin Research
Buy (maintained)
Target price: RM6.04

ALTHOUGH DiGi's stock price has appreciated 38.6% year-to-date, DiGi remains a key pick for the telco sector moving into 2013.

Our buy rating is premised on DiGi's continued growth story and strong capital management initiatives.

Both factors, in our view, are likely to drive stock price towards our discounted cash flow target price of RM6.04 (based on a weighted-average cost of capital of 6.3% and growth of 1%).


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