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

Jumat, 29 Juli 2011

United Tractors - 1H11A supported by robust heavy equipment volumes - Credit Suisse

● United Tractors (UT)’s 1H11 net profit grew 35% YoY to Rp2.54 tn, coming in at 50% of our full-year estimates and 51% of consensus’. 2Q11 profit grew by 30% YoY (+1% QoQ).
● 1H11 revenue grew 42% YoY and was at 52% of our FY11E. 2Q11 revenue also increased 39% YoY and 3% QoQ on stronger heavy equipment sales volume. We increase our 2011E heavy equipment sales volume assumption to 8050 units (from 7645 units), resulting in a 2-5% increase in our 2011-13E earnings.
● In our view, UT warrants its current valuation, as we believe UT wil l be able to leverage on both higher investment and coal demand from India.
● We increase our sum-of-the-parts based target price to Rp37,500 (from Rp30,000), but maintain our OUTPERFORM rating. We roll over our target price method to 2012E EV/EBITDA. Our target price for UT implies 10.6x 2012E EV/EBITDA.

Tidak ada komentar:

Poskan Komentar