Mungkin citigroup udah kecepatan jual BUMI.. trus pengen beli lagi di bawah harga beli nya.. Lalu dimunculinlah analisis sampah kayak gini..
Kalo bursa trend bullish, masa BUMI nyeleneh sendiri ke 580... Bisa aja sih di SS 1 : 10 ntar di harga 5800, he he... BTW, analist nya Citigroup ini lulusan mana ya?? Salam, ND On Tue, May 5, 2009 at 9:40 AM, artomoro9 <[email protected]> wrote: > > > Q: bagaimana membedakan cumi jantan dengan cumi betina? > > > > DISCLAIMER ON > > --- Pada *Sen, 4/5/09, Cumi Cabe Ijo <[email protected]>* menulis: > > > Dari: Cumi Cabe Ijo <[email protected]> > Topik: Re: [ob] FW: Citigroup Investment Research - Bumi Resources; Sell: > Unexciting 1Q09 Earnings > Kepada: [email protected] > Tanggal: Senin, 4 Mei, 2009, 6:35 PM > > Ya kalo gak ada yang mau SELL, mana ada yang bisa BUY? > > Q: Cumi-cumi mempunyai delapan kaki atau delapan tangan? > > > On Tue, May 5, 2009 at 8:38 AM, Sanjaya <mysanjaya.hd@ > gmail.com<http://mc/[email protected]> > > wrote: > >> >> >> Analisa Citi utk BUMI TP. Rp.580….. any comment? >> >> >> >> Komoditas sudah mulai naik panggung, kok BUMI dipasang target serendah >> itu? Mau nampung barang murah kali…. >> >> *Bumi Resources (BUMI..JK)* >> >> *Sell: Unexciting 1Q09 Earnings* >> >> v *Reiterate Sell *— We reiterate our Sell (3S) rating with target price >> of Rp580. At >> >> current PE of 10.1x 2009E (30% premium to peers), the stock is >> unattractive >> >> in our view given unconvincing 1Q09 earnings (while we expect 2Q-4Q >> >> earnings to trend down on lower coal prices), and higher balance sheet >> risk. >> >> v *1Q09 earnings: production & sales disappointed *— Bumi’s 1Q09 >> operating >> >> profit rose 76% y-y and accounted for 27% of our full-year. In our view, >> the >> >> 1Q09 performance was unexciting with production and sales falling (by ~10 >> yy), >> >> although this was partly offset by the drop in cash cost (-10% y-y) and >> >> higher ASP (+30% y-y). >> >> v *Expect earnings to trend down in 2Q09 onwards *— Bumi says that it now >> has >> >> 4mt of coal in inventory. The management guides 2009 ASP to be in mid- >> >> US$60s/t, reflecting the lower regional coal contract price (vs. our >> forecast of >> >> US$60/t). Thus, we expect Bumi’s earnings to trend down in the coming >> >> quarters. At present, the company has contracted 80% of its volume. >> >> v *Balance sheet *— Despite US$267mn of EBITDA in 1Q09, net debt position >> saw >> >> only a slight decline to US$1.18bn from US$1.3bn in December ’08 (taking >> >> into account the US$300mn ST investments) . This partly reflected a big >> jump >> >> in 1Q09 capex to US$119mn. >> >> >> > > ------------------------------ > Lebih bergaul dan terhubung dengan lebih baik. > <http://sg.rd.yahoo.com/id/messenger/trueswitch/mailtagline/*http://id..messenger.yahoo.com/invite/> > Tambah lebih banyak teman ke Yahoo! Messenger sekarang! > > >
