*As seen on our tweet:* [image: Inline image 1]
*Credit Suisse: HRUM Outperform PT Rp10.000*
Menyusul Goldman Sachs belum lama sebagaimana *posts* kami sebelumnya,
Credit Suisse ("CS") kembali menegaskan rekomendasi *Outperform /
Buy*terhadap HRUM dengan target harga Rp10.000. CS juga memasukkan
HRUM bersama
8 saham lainnya sebagai pilihan keranjang *hedging* investasi *base-case
Indo increase fuel price*.
Dalam rilis risetnya CS menilai:
*
Harum has indicated strong volume growth in the first two months of 2012,
up 20% YoY. This suggests that demand for medium- to highgrade coal remains
strong despite a weakening in spot coal prices.
We estimate 26% volume growth this year to 11.5 mn t. The company has
claimed to have sold six-month volume at a low price of US$90/t.
We retain our OUTPERFORM rating on the stock with a target price
of Rp10,000 based on the sector average of 8.4x P/E for 2013.
*
Credit Suisse: HRUM *full research report* (http://tinyurl.com/6n6sdn7)
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