Kamis 22 Des 2011

14:03  Watch indy!!!! Berdasarkan berita kemarin indy yg belum ada pergerakan. Jgn lupa. Indy masuk msci

10:47  osk ; Indofood Sukses Makmur: Reversal INDF pada perdagangan kemarin meanrik untuk diperhatikan. INDF diperdagangkan di level PE 8.1x dan PBV 1.3x, masih lebih murah dibandingkan saham-saham di industri sejenis. Hingga akhir tahun 2011 ini, kami melihat potensi pertumbuhan marjin dari bogasari melihat turun nya harga gandum dari USD6.8/bushel pada 3Q11 menjadi USD5.7/bushel atau turun sebesar 12%, dan untuk 2012 kami mem-forecast pertumbuhan revenue hinga 11.8%. Saat ini, kontribusi Sales INDF masih didominasi oleh Bogasari (30%), ICBP (38.5%), Sawit (25%). Sementara secara Operating profit, CPO kontribusi sebesar 43%, Bogasari 17%, dan ICBP 38.7%. Kami masih merekomendasikan BUY untuk INDF dengan target price di Rp7,500  merefleksikan PE12f dan PBV12f 14.8x dan 2.5x.


Dow 12,107 (+0.03%)- stocks closed mixed as gains in energy and financial shares were able to offset the weakness in tech sector

Oil (WTI) 98.5 +1.3%
Gold 1,614
Copper 7,455 +0.6%
Nickel 18,975 +0.6%
Tins 19,200 +1.1%
CPO RM3,072 +1.7%

TLKM 31.19 (+0.45%)=7,121
ISAT 29.60 (-0.62%)=5,407
EIDO 29.34 (+0.10%)
IDR 9,133

Nikkei -0.32%
Kospi -0.33%
ASX -0.80%

Lack of firm direction from US markets, perhaps IDX would move in mixed direction today. Higher oil price might improve sentiment on energy-related counters

Stocks to watch:

MNCN- our analyst, Andrey Wijaya, lifted  his FY11 and FY12 net profit forecast by 7.6% and 14.7%, respectively, as he saw some improvements in the company's 9M11 performances.
Following the upgrade, Andrey maintains his BUY call on the stock & increases his TP from Rp1,150 to Rp1,650, reflecting a 17.3X PER'12 

PTBA- won a $1.6bn contract to build a coal-fired power plant in South Sumatra. PTBA will form a JV with China Huadian Corp, in which PTBA will own 45% stakes. The project will be started at the end of 2012 and the operation is scheduled to start in 2016. PTBA will supply 5.4mn tons/year of coal to the power plant- still a long-term story, but with its existing business, PTBA is already one of our top picks for coal sector. BUY with TP of Rp22,200

WIKA- targets FY12 net profit to grow by 23% to Rp430.7bn, which is 8% and 16% above our and consensus numbers. The revenue is expected to growt by 24% to Rp12.1tn &  gross margin should expand by 300bps. We maintain our BUY call with TP of Rp850

ADHI- projected revenue to grow by 34% to ADHI- projected revenue to grow by 34% to Rp9.4tn in 2012 as it targets to obtain Rp13.5tn worth of contracts next year. Meanwhile, FY12 net profit is expected to rise by 12% to Rp205bn, higher than market consensus of Rp190bn

BIPI- agreed to buy Astrindo Mahakarya
Indonesia, which provides coal-mining infrastructure services, for $600mn. The purchase is expected to generate an additional $80mn in BIPI's bottom line in 2012