*Indonesia's Astra upgraded to 'buy', target price raised by 69 pct - DBS
Vickers*Wednesday, January 30, 2008; Posted: 11:34 PM
More Breakng News about PTAIF
INDONESIAN FINANCIER ASTRA SEDAYA TO RECEIVE US$277.5 MLN
LOAN<http://www.tradingmarkets.com/.site/news/Stock%20News/1020895/?hcode=relatednews>
Indonesia's
Astra International December car sales down 9.8 pct from
November<http://www.tradingmarkets.com/.site/news/Stock%20News/989646/?hcode=relatednews>
Indonesia's
United Tractors to buy 93.3 percent Tuah Turangga for 115.57 mln
usd<http://www.tradingmarkets.com/.site/news/Stock%20News/984341/?hcode=relatednews>
Click here for More News
>><http://www.tradingmarkets.com/.site/news/Stock%20News/> More
Resources for PTAIF
Short Term
PowerRatings<http://www.tradingmarkets.com/.site/powerratings/?sym=PTAIF>
Long
Term PowerRatings<http://www.powerratings.net/investors/symbol/?equity=PTAIF>
PowerRatings
Charts<javascript:openprchartsmenu('http://charts.powerratings.net/prcharts/?sym=PTAIF')>
Quotes
&
Charts<http://app.quotemedia.com/quotetools/clientForward?targetURL=http://www.tradingmarkets.com/.site/stocks/quotescharts/&action=showCharts&symbol=PTAIF&chscale=5d&chtype=BarChart>
JAKARTA, Jan 31, 2008 (Thomson Financial via COMTEX) --
PTAIF<http://www.tradingmarkets.com/.site/stocks/quotes/goto%7Ewww.tradingmarkets.com%7Eredirect.cfm?symbol=PTAIF>|
news<http://app.quotemedia.com/quotetools/clientForward?targetURL=http://www.tradingmarkets.com/.site/stocks/quotescharts/&action=showNews&symbol=PTAIF>|
PowerRating <http://www.tradingmarkets.com/.site/powerratings?sym=PTAIF> | PR
Charts<javascript:openprcharts("http://charts.powerratings.net/prcharts/?src=prchartl&sym=PTAIF";);>--
DBS Vickers Securities said Thursday it has upgraded to "buy" from
"hold"
its recommendation on Indonesian diversified conglomerate PT Astra
International due to a robust earnings outlook.
DBS has also raised its target price for the stock by 69 percent to 34,000
rupiah from 20,121 rupiah to reflect its earnings upgrade.
At 10.10 am (0320 GMT), Astra had gained 100 rupiah or 0.4 percent to 27,150
rupiah.
"Astra deserves our buy call on the back of its solid management, good
corporate governance, and diversified business with exposure to the
automotive, crude palm oil and coal sectors. It is also expected to benefit
from those commodity prices that are still surging," DBS analyst Agus
Pramono said in a note to clients.
DBS has upgraded its CPO price forecast for 2008 by 17 percent to 1,050 US
dollars a ton and its coal price forecast by 25 percent to 100 dollars a
ton.
It said Astra's plan to acquire coal mining companies will also be positive
for its long-term performance and will also secure capacity utilization of
the mining contracting division of its subsidiary PT United Tractors.
Pramono said his broking house upwardly revised its forecast for Astra's
2007 net profit by 7.1 percent to 5.88 trillion rupiah, its 2008 net profit
forecast by 37.9 percent to 8.43 trillion rupiah and its 2009 net profit
projection by 42.1 percent to 9.71 trillion rupiah.
"The higher earnings estimates will be supported by higher-than-expected
revenue from automotive, finance and agribusiness, as well as the heavy
equipment and mining contracting business," he said.
(1 US dollar = 9,304 rupiah)
[EMAIL PROTECTED]
http://www.tradingmarkets.com/.site/news/Stock%20News/1047605/
