DJ MARKET TALK : Straits Asia, Bumi Resources Top Asia Coal Picks - CS 0120 GMT [Dow Jones]
Credit Suisse keeps Asia Coal Sector at Overweight, raises target price expectation for regional coal companies on stronger coal outlook. "Coal spot prices continue to strengthen as we approach the traditional buying season for thermal coal. Current Newcastle FOB spot of US$75.50/tonne gives us further comfort on our 2008E regional coal contract price assumption of US$70/tonne." Tips top picks as Bumi Resources (BUMI.JK), Straits Asia (AJI.SG). Bumi Resources target raised to IDR5,100 from IDR3,400; Straits Asia target raised to S$2.60 from S$1.40. Cuts Banpu (BANPU.TH) to Neutral from Outperform, raises target to THB415 from THB316. Keeps PTBA (PTBA.JK) at Neutral, raises target to IDR8,100 from IDR5,700. (LES) Contact us in Singapore. 65 64154 140; [EMAIL PROTECTED] (END) Dow Jones Newswires October 16, 2007 21:20 ET (01:20 GMT) Copyright (c) 2007 Dow Jones & Company, Inc.- - 09 20 PM EDT 10-16-07
