Jardine Strategic

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Up 9% on no news ?

Regulators sleeping ?

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Our take

With the 3 largest contributors (DFI, JC&C and HKL) having reported robust earnings, both JS and JM are likely to report record underlying profit for the year.

We estimate FY11E net underlying profit of US$1.6b for Jardine Strategic, representing core earnings growth of 9%. Jardine Matheson's earnings track Jardine Strategic closely given the cross-holdings between the 2 companies and stakes in similar operating companies.

For FY12E, we are forecasting earnings growth of 12% in net underlying profit to US$1.78b, primarily driven by growth in Astra and Dairy Farm.

At 10.7x FY12E, JS and JM at trading in line with our FY12 P/E of 10-11x for the STI, but both stocks offer superior growth prospects due to their portfolio of resilient businesses, which are generally consumer staples in nature and scalable across its core markets.


Valuation

We use a sum-of-parts valuation to value Jardine Strategic, taking into account the market values of its stakes in its various operating companies. On this basis, JS has a NAV of US$51/share. We apply a discount of 30%, in line with its historical trading range of 30-40% discount to its NAV, to derive a target price of US$36.00.

At current levels, the stock offers a 18% upside to our target price.

Over the past decade, JS's stock has generated total shareholders return of 28% p.a. While repeating this feat over the next decade will be more challenging given the larger base today, we believe future returns will continue to be satisfactory given the group's portfolio of outstanding businesses and strong management.

Source: DMG

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Rev +10%
EPS -66%
NAV US$51.76

http://info.sgx.com/webcoranncatth.nsf/ ... penelement

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Jardine Strategic Holdings Ltd forms bullish "Rounded Bottom" chart pattern

Recognia has detected a "Rounded Bottom" chart pattern formed on Jardine Strategic Holdings Ltd (J37:SGX-ST). This bullish signal indicates that the stock price may rise from the close of $34.30 to the range of $35.80 - $36.10.

The pattern formed over 22 days which is roughly the period of time in which the target price range may be achieved, according to standard principles of technical analysis.

Tells Me: There has been a gradual shift from a downtrend to an uptrend; there may be a sharp rally ahead. The Rounded Bottom represents a slow and gradual reversal of the trend from down to sideways to up.

Volume diminishes near the bottom as the stock trades within a range and finally bursts as investors become more decisively bullish. While rarer than other reversal patterns and often longer term, Rounded Bottoms usually mark a major turnaround.


Source: Phillips

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RESEARCH ALERT-Jardine Strategic: HSBC raises price target

Feb 5 (Reuters) - Jardine Strategic Holdings Ltd : * HSBC raises price target to $41 from $34; rating neutral


Source: Reuters

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Time: 4:45PM
Exchange: SGX
Stock: JSH 500US$(J37)
Signal: Support - Broken with High Volume
Last Done: $37.31

Source: UOBKH

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Time: 9:13AM
Exchange: SGX
Stock: JSH 500US$(J37)
Signal: Bullish MACD Crossover
Last Done: $38.9

Source: UOBKH

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Time: 8:58AM
Exchange: SGX
Stock: JSH 500US$(J37)
Signal: Bullish MACD Crossover
Last Done: $38.84


Source: UOBKH

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Time: 4:19PM
Exchange: SGX
Stock: JSH 500US$(J37)
Signal: Bearish MACD Crossover
Last Done: $38

Source: UOBKH

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Time: 8:58AM
Exchange: SGX
Stock: JSH 500US$(J37)
Signal: Bearish MACD Crossover
Last Done: $38.71

Source: UOBKH