For November, given the previous month’s sharp rally, OSK expects some pullback in global markets, with Malaysia being no exception.
Barring the announcement of a General Election, OSK remains defensive on the Malaysian market and would advocate a BUY only if the KLCI retraces towards 1,300 pts, while we may call a SELL if the market heads towards 1,533 pts. Maintain NEUTRAL for now.
The table below is the target price for OSK’s November 2011 top picks.
| Stocks | Price (RM) | Target price (RM) | Market Cap (RM million) | Rating |
|---|---|---|---|---|
| Axiata | 4.88 | 5.50 | 41,304.6 | Buy |
| Petronas Gas | 13.10 | 14.62 | 25,921.4 | Buy |
| Telekom Malaysia | 4.24 | 4.80 | 15,168.2 | Buy |
| AirAsia | 3.90 | 5.18 | 10,389.3 | Buy |
| KPJ Healthcare | 4.20 | 5.21 | 2,436.7 | Buy |
Source : OSK Research