JurTech   

Jurong Tech seeks S$20m acquisitions

Hi Lewsh88, thk err... don mention, just share share some info that stocks i so happen to know or have interest in, not necessary vested. 

 

ABN Amro downplayed market fears that the contract electronics maker will suffer lower earnings following hard disk drive maker Seagate purchase of Maxtor.



"We expect new businesses, especially the high-volume wireless accessories meant for existing and new customers, to make up for this loss of business," ABN Amro said. Jurong Tech will also benefit from being "one of Motorola's strategic manufacturing partners" with the latter's strong 2Q06 financial performance



ABN Amro has a price target of $1.54.

 

99% of  stock analysts' reports cannot be relied upon.  Usually the stocks concerned would nosedive after the reports are released. More than two years ago, three brokers' targeted price reported in "Business Times" for Neratel was 64 cents.  It has to date not hit that target (even after it recently sold it majority shareholding in NeraElectronics for cash).  There are very few sellers  at its  current low price because the dividend every year of at least $20 per 1000 shares is higher than the interest paid by most banks.   Sellers are no fools, aren't they? 

 

I wonder whether CIMB-GK brought their way of reporting from Malaysia ? Was GK Goh past reports reported this way ?

 

This stock has crashed heavily recently -- following the selldown of tech stocks.  The only way for it to go back to its glory days is when the big boys decided to enter the tech sector when they find it is cheap enough.... The reports (outperform or whatever) won't help.

 

DBSV used to be the super bull analyst. Now CIMB-GK has taken over its place. It's still giving a price target of $0.98 for Sarin.

 

Stock analysts are like meteorological station officers. They got the most enviable job in the world. They are never sacked from their jobs even though most of the time they make wrong predictions.

Don't believe what stock analysts say. If they are good, they would be sitting at home making tons of money rather than on the payroll of banks and institutions. No hard feelings if any of our members are stock analysts.

Better to listen to our members such as singaporegal; nostradamus, teeth53, etc... At least their advice are quite accurate and free of fees. 

 

Fyi,  meaning of outperform is explained this  way:

• even a stock that is losing money can be graded as outperform. Eg if the STI index is down by 15% but the stock concern is down by only 10% ..... it is considered outperform.
  
• The opposite is true to:   Eg if teh STI Index is up by 10%. And your stock is up by 12%. Is outperform.

I realised some anaylist give outperform like nobody biz. Highlighted before  on 28 Jun 06,  SARIN was rated outperform.  By mid-Jul 06, the counter crashed.

Maybe we should tracked the rating of each research house and share the info on how accurate they are ........

 

By CIMB on 12/06/06 : Buy $0.99, Target $1.70.
should be By CLSA on 12/06/06 : Buy $0.99, Target $1.70.

 

Reports in SGX by CLSA on 15/5/06: Buy $1.59, Target $2.30

By CIMB on 16/05/06 : Still Cheap, Outperform $1.56, Target $2.04

By CIMB on 12/06/06 : Buy $0.99, Target $1.70.

The above were the 3 latest reports on JT in SGX. Surely many people will get trapped. Especially the word OUTPERFORM. So be careful of the reports.

 

Ouch... thats quite a heavy loss. About 30% ... about $10K ??

My trading timeframe, based purely on TA, is only around 2-4 weeks. From what I see in the next few weeks is that this stock will go lower.

I can't really tell you much about the long term prospects of this stock because I have not done the FA.

Check with Bullrun or Nostradamus? They're pretty good FA forummers.

 

30 lots at average price of $1.32 (bought since Jan 06 after reading reports that fair value is $2.10. Entered at $1.83 and latest buy is few days ago at 0.945).

 

what price did you buy at? how many lots?

 

I am vested and will suffer heavy loss if sell now. Can hold for long term ?

 

I don't think so... I think there's going to be some serious downward movement. There's a tight sqeeze on its Bollinger Bands plus RSI and AD are downtrending. Be cautious on this one.

 

Interesting news on Jurong Tech:

http://sg.news.yahoo.com/060719/3/426vq.html

But guess its a long term investment. Good time to cash in now?