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ozone2002 ( Date: 09-Feb-2011 09:31) Posted:
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F& N oversold position..gd time for entry @ low $6.. to ride the trend up..gd luck!
Today’s Focus
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F& N - Kirin increases stake upgrade to BUY.F& N’s share price has retreated c.8% since our analyst
downgraded in Nov’10. F& N offers more value now with
c.18% total return upside to our revised target price of S$7.00
(Prev S$ 6.90). With Kirin’s increasing its stake to 15%, we
believe this could provide support to share price, and possibly
provide catalyst for restructuring over the medium to long
term. On the property front, we believe the recent property
measures could largely have been priced in. Response to the
latest launch looks decent. Hence, our analyst is upgrading F& N
to BUY.
Hi Master Krisluke, care to comment or provide an update charting on F& N?
6.29 is our pivot point.
Our preference: the upside prevails as long as 6.29 is support.
Alternative scenario: the downside breakout of 6.29 would call for 6.11 and 6.02.
Comment: the RSI is above 50. The MACD is above its signal line and positive.The configuration is positive. Moreover, the stock is above its 20 and 50 day MA (standing respectively at 6.44 and 6.35). Fraser & Neave is currently trading near its 52 week high reached at 6.85 on 10/11/10.
Supports and resistances: 6.92 *6.82 **6.72 6.58 last 6.36 6.29 **6.11 *
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F & N rebounded off its MA support today. Looking good.
http://sgsharemarket.com/home/2011/01/f-n-bullish-confirmation/
F&N looks poised for technical rebound on the charts. see link below.
http://sgsharemarket.com/home/2011/01/f-n-poised-for-technical-rebound/
Fraser and Neave, Limited (the “Company”) announced that Frasers Property (UK) Limited (“FPUK”), an indirect subsidiary of the Company in the United Kingdom, has on 23 December 2010, pursuant to successful negotiations, completed a consensual corporate and debt restructuring of FPUK and its subsidiaries and investments (the “Restructuring”).
/sgx masnet/
Fraser and Neave, Limited announces that FCL Topaz Pte. Ltd., a wholly-owned subsidiary of Frasers Centrepoint Limited, which in turn is a subsidiary of the Company, has, jointly with Far East Civil Engineering (Pte.) Limited, a Far East Organization company, and Sekisui House, Ltd., incorporated a joint venture company in Singapore named EASTHOUSE PROPERTI ES PTE. LTD., with FCLT, FECE and SHL holding interests in the proportion of 50%, 25% and 25% respectively, for the purpose of undertaking the acquisition and development of a residential property project in Singapore .
/sgx masnet/
Fraser & Neave (FNN SP, $6.21, BUY, TP $8.98) – A spring-cleaning for F&N is long overdue, in our view. Therefore, 2011 will be a good time for management to consider splitting up the conglomerate by relisting its property arm, selling non‐core businesses, investing in global F&B brands or even privatising F&N Holdings Bhd. We estimate the sum of the values of these businesses as separate entities should be 26% higher compared to the conglomerate approach. Reiterate BUY.
/kim eng/ i read i post
Technical Comment from The Edge
Underlying tone of F&N is quite weak and prices could be in a top formation. The neckline of the top formation is at $6.09. A breakdown from this level would indicate a minimum downside target of $5.15.
Wish everyone here a nice weekend
F&N has dropped to 6.18...
Fraser & Neave (FNN SP) - BUY : On course (V)( S$6.21 / Price Target: S$7.24 ) by Nomura Research
Post F&N's fourth-quarter results, we tweak our earnings estimates for the group and raise our Price Target slightly to S$7.24 (from S$7.18). We maintain our BUY rating as we continue to like the growing F&B franchises. While we expect Singapore property development earnings to pullback from a high base, overseas contribution should start to contribute more materially from FY11F.
Make love more, don't make more enemies
Kim Eng recommend a BUY with Target Price of $7.08
Strategy 2011 – Hot money will continue to flow. Interest rates will remain low. Against this backdrop, our strategy in the new year is to identify companies that are able to capitalise on their financial strength to buy growth. We pick seven daring plus-size shoppers that will justify further re-rating, not just because of their proactive pursuit of M&As and corporate restructuring, but also because of their potential to generate value for shareholders.
- Singapore Exchange (SGX SP, BUY, TP: $11.00)
- Noble Group (NOBL SP, BUY, TP: $2.58)
- Olam International (OLAM SP, BUY, TP: $3.88)
- Keppel Land (KPLD SP, BUY, TP: $5.60)
- Keppel Corp (KEP SP, BUY, TP: $12.30)
- SATS (SATS SP, BUY, TP: $3.48)
- Fraser and Neave (FNN SP, BUY, TP: $7.08)
Make love more, don't make more enemies
F & N: HOLD (Downgrade from BUY); S$6.58; Bloomberg Code: FNN SP
Value discovered
Price Target : 12-Month S$ 6.90 (Prev S$ 6.30)
by: Andy SIM CFA +65 6398 7969
FY10 core results (+25%) within expectations
F&B and properties remained as key drivers
Value discovered, trading above average P/BV of 1.2x
Downgrade to Hold, despite higher TP of S$6.90
FY10F a record year as expected. Core net profit (excluding exceptionals
and fair value gains) was S$582.6m, up 25% yoy from S$466.5m in FY09.
Revenue grew by 10.7% to S$5.7bn with higher contributions from all
business units, namely Soft drinks (+23.5%), Breweries (+21.9%), and
Investment (+15%) and Development properties (+8.3%). F&B accounts for 42%
of Group PBIT, while Properties contributed 55%, similar to FY09. Final
dividend of 12 Scts was proposed, bringing full year to 17 Scts (FY09: 13.5
Scts).
F&B, properties still the focus for growth. The Group had embarked on
several acquisitions (King’s Creameries, Cocoaland Holdings, and
Multi-Bintang Indonesia) during the FY. Management indicated that they
would be looking out for opportunities to further grow its F&B pie. For
Properties, it has built up a landbank of 2,371 units in Singapore. It will
continue to add but is in no hurry given that its land inventory should
last c.2 yrs. In China and Australia, it expects sales volume of 1,000 and
500 units p.a., respectively.
Easy price ascent may be over, value discovered - Hold. We raised our TP to
S$6.90 based on a 5% discount to our RNAV of S$7.26, on (i) higher value of
its listed entities, mainly APB and F&N Bhd; (ii) factoring in recent land
purchases. We have been early advocates of this counter since mid-2009.
Share price is up by +60% YTD, outperforming the STI by c.45%. In our view,
the easy price ascent seen this year may be more elusive as the value has
largely been realized. The counter is now trading at FY10/11 P/BV of 1.5x
and 1.4x respectively, which is above its average P/BV of 1.2x, and not far
from the peak of 1.6x reached in 2007. With a c.5% upside, we downgrade to
Hold.
Source DBS Secs
Make Love More, Don't Make More Enemies
ja_cbt7 ( Date: 03-Nov-2010 11:14) Posted:
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Anybody know what is the cause? It still show strong in the run. Beating the recent high record $6.58.
Pls advice.
F&N has been on a bull run and the charts show that the bull might be far from over.
http://sgsharemarket.com/home/2010/11/f-n-continuing-uptrend/
alexchia01 ( Date: 02-Nov-2010 13:52) Posted:
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