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It felt only like yesterday when Bursa punters pushed loss making Media Prima's stock price from a mere 20sen to over 70sen (more than 3x gains with T4Q P/E ratio of -39 times). Driven by the argument that Covid has increased the number of housewives buying things off their TV, could this be the season for media stocks? 

ASTRO, another forgotten media stock with T4Q P/E of 10 times and dividend yield of about 8%, is currently at its 52 week high and in the process of forming a breakout. Current resistance is at RM1.07, and breaking this barrier would see the stock rise to new highs with target price of at least RM1.40 (more than 30% gains). 

Company fundamentals are good as research houses have high hopes for the company: 

As we approach the sports season (EPL, Thomas Cup, etc), Astro is set to reap higher profits from its strategic position of being the ONLY official HD sports streaming service in Malaysia. Not to forget, as Election approaches, political parties are bound to spend a lot of money on advertising and Astro would be a great place to show their ads. 

Also, management has just appointed a very qualified man (Mr Kenneth Shen) who specialises in Corporate Finance and M&A to be Director. Something big coming up? https://klse.i3investor.com/companyInfo/boardroom/6399/12-Apr-2021/32923_113099107.jsp

If you missed the MEDIA rocket then let's hope you don't make the same mistake with this one!


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