betul....tapi lihat saham jelek pada naik, and saham bagus pada turun. Apa 
betul ini yg disebut distribusi?? jadi beli sabar harus berapa lot lagi nich?? 
he...he...he..he

Thanks & Rgds,
Ferry W.

http://budidaya-jamur-tiram.blogspot.com/
  ----- Original Message ----- 
  From: ft...@yahoo.com 
  To: obrolan-bandar@yahoogroups.com 
  Sent: Tuesday, May 12, 2009 10:58 AM
  Subject: Re: [ob] FW: CS : UNTR TP raised to Rp 11400/sh





  Kuncinya harus sabar pak (ini saham langganan sy), tapi kalau masih belum 
naik sampai akhir may ini, jual dulu (pesan dr pak oen khan awal juni bd dan 
dana asing akan tp dulu), krn kalau bd lagi tp, mereka tdk peduli saham bagus 
atau tidak heheh

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------------------------------------------------------------------------------
  From: "Ferry Wachjudi" 
  Date: Tue, 12 May 2009 10:48:42 +0700
  To: <obrolan-bandar@yahoogroups.com>
  Subject: Re: [ob] FW: CS : UNTR TP raised to Rp 11400/sh



  Mbah/Prof JT,

  boleh dishare analisanya kenapa UNTR, LSIP, AALI  ditekan terus sama sec 
asing? Padahal target mereka untuk UNTR diatas 11000an.....

  Thanks & Rgds,
  Ferry W.

  http://budidaya-jamur-tiram.blogspot.com/
    ----- Original Message ----- 
    From: Sanjaya 
    To: obrolan-bandar@yahoogroups.com 
    Sent: Thursday, May 07, 2009 11:40 AM
    Subject: [ob] FW: CS : UNTR TP raised to Rp 11400/sh




    ● We have just published a report on United Tractors (UT). UT’

    robust 1Q09 results, stemming from higher ASPs, a weaker IDR

    and therefore margins –due to inventory gains and a bigger

    proportion of higher margins in the parts and services division –have 
beaten our as well as the street’ expectations.

    ● The strong results reaffirm our view that UT’ business is not only

    resilient, but also offers positive leverage on a weaker IDR. We

    have therefore upgraded our forecasts by 17-42% over FY09-11E

    (putting our forecasts 13-23% above the street’), while

    maintaining our volume assumptions.

    ● Despite the positive share price performance, we believe that the

    recovery in equipment volumes and strong earnings are likely to

    be the main catalysts for the company. Low gearing should give

    UT flexibility for future expansion.

    ● We have increased our sum-of-the-parts-based (SOTP) target

    price by 24% to Rp11,400 (from Rp9,200), implying 27% upside, a

    P/E multiple of 11.5x FY10E and 5.8x FY10E EV/EBITDA. We

    therefore maintain our OUTPERFORM rating on the stock.





  

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