Asyiikkkk... hari ini kayaknya dapet diskon HRUM lagi nih..... he.. he... 2012/6/18 sinta sari <[email protected]>
> Wow, HRUM hari ini mantap ya. Average down terus sampe 5400-an, akhirnya > hari ini bisa lolos di 5800-an. Lumayan. Semoga besok Tante CS sama Tante > ML mau guyur HRUM lagi. Kutunggu dengan penuh kerinduan... he.. he... > > > 2012/6/13 Bambang Kansah <[email protected]> > >> ** >> >> >> *Credit Suisse: Indonesia Coal Sector - Cheaper option.* >> ● The coal sector has been underperforming the Indonesian market trading >> at 10x FY12E P/E. The sector now trades at a 28% discount to the JCI. >> Compared to other regional players, Indonesian coal stocks offer a cheaper >> option, given that they >> trade at a 13% discount to their Chinese peers. >> ● We are bullish on our coal price assumptions as we still see strong >> demand from China and India . The risk is on the supply side from Indonesia >> as domestic consumption is set to increase with new power plants coming on >> stream to support the country’s >> economic growth. >> ● The risk to our call would be if railway infrastructure in Mongolia , >> India, and at PTBA were completed on schedule, which would bring a lot of >> coal to the market. >> ● Our top picks in the sector are ITMG, HRUM and PTBA. HRUM has a more >> attractive valuation, with strong volume growth and not much cost increase >> as it is operating relatively new mines. ITMG provides better liquidity and >> no corporate governance issues. >> CS picks in the sector, in the order of preference, is: >> Indo Tambangraya (ITMG, O, PT Rp50,000): Still Looks Attractive After >> Earnings Cut >> Harum Energy (HRUM, O, PT Rp10,000): Strong Cash Flow and Volume Growth >> Bukit Asam (PTBA, O, PT Rp25,000): Railway Projects to Materialize >> >> >> -- >> send from my hoki blackberry@ >> >> >> > >
