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GSS Energy

Ideal Proxy To The Tech Boom And Oil Price Recovery

 

With new projects in the auto and consumer space, we expect FY18 to be even better for GSS. Trading at 9x FY18F ex-cash P/E, valuations just account for the PE business. With oil & gas discovery affirmed in Dec 2017, 1P reserves already conservatively estimated at SGD0.29/share, and oil & gas revenue to come in 1H18, we think GSS is significantly
undervalued and provides a unique opportunity for investors to ride on the manufacturing boom and oil price recovery. As a result, we initiate coverage with a BUY and with an SOP TP of SGD0.25 (56% upside).

Powermatic Data Systems Limited

Get free Wi-Fi with this stock

 

■ Powermatic’s core business is manufacturing a wide range of wireless connectivity hardware such as wireless modules, embedded boards and antenna.

■ As the company is able to offer hardware and software design capabilities, it also enjoys higher gross margins than its peers without design capabilities.

■ At the current share price, we believe that investors are getting Powermatic’s growing wireless connectivity business for free.

■ We initiate with an Add call as we expect the company to continue benefiting from the growing connectivity of devices and the advent of 5G telecommunications network.

 

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