CGS International Securities April 15, 2025
Trendspotter: Centurion Corp Ltd – Uptrend Remains Intact
The euro’s recent surge, reaching its strongest level in three years, has sparked interest among traders and investors. With economic uncertainty surrounding US tariff policies, questions arise about the dollar’s traditional safe-haven role, leading to a surge in the euro’s value.
Key Highlights
The euro hit its strongest level in three years at the end of last week, raising questions about its potential to reach $1.20.
Traders are betting on further euro gains, with three out of four options contracts bought on Friday being for more euro appreciation.
Strategists at Mizuho International Plc see rising odds that the currency hits $1.15–$1.20 in the coming months.
Centurion Corp Ltd – Technical Buy
Company Description
Centurion Corporation Limited provides purpose-built workers and student accommodation services. The company serves customers worldwide and manages quality and purpose-built workers’ accommodation assets.
Analysis and Recommendations
Uptrend Remains Intact: Centurion Corp has reached beyond its final target price of S$1.20, based on our Trendspotter report dated November 4, 2024.
Key Pointers:
The stock has been on a steady mid-term uptrend since April 2024.
Recent closure above the bearish gap indicates confirmation of an uptrend continuation.
Prices are trending above all Ichimoku indicators.
The MACD histogram is positive, and the MACD/signal line has performed a crossover at the bottom.
The 23-period ROC remains elevated above the zero line.
Volume remains in a healthy expansion.
Support and Resistance Levels
Entry Price(s): 1.17, 1.07, 1.00
Support 1: 1.09
Support 2: 0.900
Stop Loss: 0.890
Resistance 1: 1.22
Resistance 2: 1.51
Target Price 1: 1.50
Target Price 2: 1.61
Target Price 3: 2.00
CSPC Pharmaceutical Pipeline
Out-licensing Offsets Legacy Drug Erosion
FY24 Annual Results: CSPC Pharmaceutical Pipeline out-licensing offsets legacy drug erosion.
We expect the risk of decline in legacy drugs to be offset by the growth in new drugs in FY25F.
Innovative Drugs Pipeline: We believe CSPC’s innovative drugs pipeline is undervalued, with several assets possessing licensing-out potential.
Financial Projections
Revenue Growth: We project 6.7%/2.1%/3.5% yoy revenue growth for FY25F/FY26F/FY27F.
Upgrade to Add
We upgrade our rating to Add from Hold with a higher SOP-based TP of HK$6.88.
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(i) As of April 14, 2025, CGS International has a proprietary position in the securities (which may include but not be limited to shares, warrants, call warrants and/or any other derivatives) in the following company or companies covered or recommended in this report:
(ii) Analyst Disclosure: As of April 15, 2025, the analyst(s) who prepared this report, and the associate(s), has / have an interest in the securities (which may include but not be limited to shares, warrants, call warrants and/or any other derivatives) in the following company or companies covered or recommended in this report:
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Rating Distribution
Add: 71.0%
Hold: 20.9%
Reduce: 8.2%
Stock Ratings Definition
Add: The stock’s total return is expected to exceed 10% over the next 12 months.
Hold: The stock’s total return is expected to be between 0% and positive 10% over the next 12 months.
Reduce: The stock’s total return is expected to fall below 0% or more over the next 12 months.
Sector Ratings Definition
Overweight: An Overweight rating means stocks in the sector have, on a market cap-weighted basis, a positive absolute recommendation.
Neutral: A Neutral rating means stocks in the sector have, on a market cap-weighted basis, a neutral absolute recommendation.
Underweight/Underperform: An Underweight rating means investors should be positioned with a below-market weight in this country relative to benchmark.
CGS International Securities
April 15, 2025
