Market Flash: iSHARES MSCI Indonesia Investable Market Index Fund (EIDO:US) PRICE: 28.530 USD Down -0.360 (-1.246%) >>> BI: Rupiah Melemah Akibat Kondisi Eropa >>> Pertemuan FED pertimbangkan langkah baru dorong ekonomi >>> KIJA akan Terbitkan MEN Valas USD150 Juta >>> PT Indika Energy Perusahaan Teladan Dunia 2011 >>> Govt Promises Revision of Cost Recovery Regulation >>> BPMigas Demands PGN to Pay US$6 per MMBTU >>> Jababeka to Raise US$150 Million from Debt Markets >>> SCG Chemicals buys Chandra Asri >>> Solusi Tunas eyes Rp380 bio IPO >>> SMR Utama scouts Rp300 bio IPO >>> Alam Sutera picks two bond arrangers >>> ASII Tetap Rajai Penjualan Mobil Agustus 2011 >>> Perusahaan Thailand kuasai Saham TPIA senilai Rp 3,76 Triliun >>> Agis Main ke Tambang, Sahamnya Masuk Dalam Pengawasan >>> ACES Mendekati The Northern Agar Mau Kurangi Kepemilikan >>> IHSG masih harus berjuang terus bertahan diatas MA200 >>> Melirik Peluang Akumulasi di Saham Perbankan >>> Analisa Saham BUMI: Kuat Bertahan & Berpeluang Kembali Uptrend >>> Analisa Saham JSMR: Bertahan Di Support, What Next? >>> INDF Tertahan Di Area Support Kuat, Berpeluang Rebound >>> ASII Break Minor Support, Sell on Strength >>> ADRO Membentuk Descending Wedges, Berpeluang Rebound Terbatas >>> Wall Street ends flat as early gains evaporate >>> Fed begins policy meeting, tiptoes toward easing >>> Fed meeting to help decide on long-term Treasuries >>> Greece Makes 'Good Progress' in Reform Talks: EC >>> China worried Europe debt crisis will hit trade >>> China could roll out 4.65tr yuan stimulus package >>> IMF sees Mideast stagnation >>> NYMEX-Crude ends higher at Oct contract expiry >>> Asian Crude Palm Oil Up On Technical Buying, Soyoil >>> Foreign net Sell - 61.785.746

Minggu, 24 Juli 2011

PT Borneo Lumbung Energi & Metal Tbk - Volumes at risk, while price is calming down - Credit Suisse

● Downgrade to NEUTRAL. We downgrade BORN to NEUTRAL and lower our earnings by 18% for 2011E and 6% for 2012E on lower-than-expected sales volume. Our house also cut its shortterm price assumption from US$313/t to US$291/t for 2011.
● Short-term downside risks to consensus. As a new company, BORN is continually negotiating on its pricing in its attempt to establish its brand and position. Prolonged negotiations have caused shipment delays, which have resulted in lower-thanexpected sales. As we enter into the drought season, we expect volumes risk to remain in 2Q and 3Q.
● Sales volumes for 2Q and 3Q may remain below initial target. With 2Q results coming up by end-July, we expect the disappointment in sales volume to temporarily impact the share price. As our house expects little short-term price upside, we
believe there will be little catalysts to boost the share price.
● We thus lower our target price to Rp1,600 and downgrade rating to NEUTRAL. We prefer thermal coal play on the potential coal price pick up in 4Q11 and improved weather, which should boost production.

Tidak ada komentar:

Poskan Komentar