Gantian. Yg kemaren jatuh dalam yg naikin indeks. Bagus juga kerja bandar. --- Pada Sen, 23/2/09, jsx_consultant <jsx-consult...@centrin.net.id> menulis: Dari: jsx_consultant <jsx-consult...@centrin.net.id> Topik: [obrolan-bandar] Re: Fw: ANTM (TP Rp1,275) - CLSA: The gold argument Kepada: obrolan-bandar@yahoogroups.com Tanggal: Senin, 23 Februari, 2009, 12:23 AM
Lagi DIGILIR ... --- In obrolan-bandar@yahoogroups.com, "Irwan Adi Triwibowo" <irwan...@...> wrote: > > AYO BUM_BUM masak kalah sama TAM_TAM.................. > > > > ________________________________ > > From: obrolan-bandar@yahoogroups.com > [mailto:obrolan-ban...@yahoogroups.com] On Behalf Of Joe Grunk > Sent: Monday, February 23, 2009 1:55 PM > To: obrolan-bandar@yahoogroups.com; sa...@yahoogroups.com > Subject: [obrolan-bandar] Fw: ANTM (TP Rp1,275) - CLSA: The gold > argument > > > > > > > > > > > > > > * CLSA is bullish on gold and upgrading the price > assumptions by around 25% to 27% over the next two years, with potential > for short-term upside surprise. > > * Subsequently, we are raising our earnings forecasts for > Antam by 90% to 25%. > > * Known to be a nickel play, gold contribution to Antam > revenue could increase from 10% in 2007 to an expected 30% in 2009 while > the contribution to gross profit could jump from 10% to 50% over the > same period. > > * Impact of higher gold price over the longer run to > earnings and cash flows is more subdued though, due to relatively short > gold reserves life, as reflected in 25% gold contribution to our total > DCF estimate. > > * Antam valuations, PE and EV/EBITDA, are not cheap but > the counter offer the only gold exposure in town. > > * Risks would include stubbornly high ferronickel cost, > immediate ban on nickel ore export, and higher than assumed derivative > loss. > > * Upgrade to Outperform. > > > > With best regards, > > > > Ahmad Solihin (Olie) > > CLSA Indonesia , Investment Analyst > > Phone: +62 21 2554 8834 > > Mobile: +62 812 807 3656 > > Fax: +62 21 574 6920 > > ahmad.soli...@... <mailto:ahmad.soli...@...> > > > > > > > > > > > ________________________________ > > > CLSA CLEAN & GREEN: Please consider our environment before > printing this email. > The content of this communication is subject to CLSA Legal and > Regulatory Notices. > These can be viewed at https://www.clsa.com/disclaimer.html > <https://www.clsa.com/disclaimer.html> or sent to you upon request. > > > > > > ________________________________ > > Dapatkan alamat Email baru Anda! > <http://sg.rd.yahoo.com/id/mail/domainchoice/mail/signature/*http:/mai l. > promotions.yahoo.com/newdomains/id/> > Dapatkan nama yang selalu Anda inginkan sebelum diambil orang lain! > ------------------------------------ + + + + + + + Mohon saat meREPLY posting, text dari posting lama dihapus kecuali diperlukan agar CONTEXTnya jelas. + + + + + + +Yahoo! Groups Links ___________________________________________________________________________ Nama baru untuk Anda! Dapatkan nama yang selalu Anda inginkan di domain baru @ymail dan @rocketmail. Cepat sebelum diambil orang lain! http://mail.promotions.yahoo.com/newdomains/id/
