Supermax

[winston]

The stock has fallen 48.78% from its recent peak of RM11.89 on Aug 6.

[winston]

not vested

Greener pastures still ahead

In our view, SUCB is undervalued at current valuations (7x CY21 P/E) given its robust earnings prospects for at least the next 12 months.

SUCB should post stronger results in upcoming quarters, backed by:
i) further ASP hikes
ii) increases in capacity, and
iii) better economies of scale

Retain Add on SUCB, with an upside of 51.9% and CY21F div yield of 5.6%.

TP: RM 10.80

Source: CIMB

https://rfs.cgs-cimb.com/api/download?f ... B3C0132D32

[winston]

not vested

Supermax Corp Bhd spent RM53.92 million to buy back its own shares today, its first share buyback exercise this year.

In a bourse filing, the glove manufacturer said it bought back 8.15 million shares at between RM6.24 and RM6.70 apiece.

It now holds 102.98 million cumulative net outstanding treasury shares, which is equivalent to 3.79% of its total share capital of 2.72 billion shares.

Source: The Edge

https://www.theedgemarkets.com/article/ ... yback-2021

[winston]

not vested

ACCUMULATE (TECHNICAL)

The stock is set to extend its rebound.

The formation of a new higher low structure and the rebound above its 200-day
EMA line show that momentum is gaining pace.

We expect the stock to trend higher in the near term.

Source: Maybank