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Friday, August 7, 2009

Yanlord ( $2.41)

[3:50pm] STI down 56 points. Same view as mid-day break. Unless it falls by another 40 points or so to 2,480. At that level, it will be good bet for a portion of my money.

For the gutsy folks who can't control the itchy hands, Yanlord can be a good gamble. Based on my Swing Trade template, this stock is oversold after falling for three days consecutively. Any technical rebound, this counter is likely to be beneficiary. A word of caution, downside risk remains, result will be out on August 11 ( could be why the past three days drop but UOB Kayhian think otherwise ):

DJ MARKET TALK: UOB Tips Yanlord 1H09 Net Profit +179% At S$214M

Aug 5, 0349 GMT [Dow Jones] STOCK CALL: UOB KayHian tips Yanlord (Z25.SG) to post "pleasing" results, forecasts 1H09 net profit +179% on-year at S$214 million. Adds, actual result could be higher as company managed to sell almost all 100,000 sqm of completed but unsold inventory at Shanghai Riverside City in 1H09. Notes contract sales through July at CNY7.6 billion, +65% vs FY08, marking 85% of house's already bullish 2009 sales target; notes 95% of house's 2009 revenue forecast secured. Results due Aug. 11 around midnight. Keeps at Buy, puts S$2.99 target price under review for upgrade after results release. "With the continuous rally of the sector, Yanlord is now close to our target price. Admittedly, trading at a 4% premium to NAV, the stock is not cheap. But liquidity will boost the sector valuation to an otherwise unjustifiable level. As Yanlord is one of the most solid and transparent mainland developers, we are keen to keep the stock as one of our top picks." Shares +0.4% at S$2.85. (LES)

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posted by Market Wizards @ August 07, 2009 Comments: 0