[obrolan-bandar] Dow +142,99, volume kecil, Minggu depan DOW J rawan Koreksi "HATI-HATI"surfing di MArket
Date: Fri, 24 Aug 2007 20:52:06 -0700 (PDT)
To: obrolan-bandar(*)yahoogroups.com
Dow melanjutkan kenaikan +142,99; dji 13378 penutupan jumat.
Hati2 Dow udah Rally setelah menyentuh ttk sp nya di 12600, jadi udah naik +- 778 point.
Perhatikan Chat Daily Dow J . Silahkan menarik kesimpulan sendiri;
- Original Message ---- From: Heryadi <heriadi(*)ramayana.co.id> To: obrolan-bandar(*)yahoogroups.com Sent: Friday, August 24, 2007 5:17:36 PM Subject: [obrolan-bandar] Fw: JP Morgan raised ELTY target price again on the back of strong results, now to Rp 630/sh.....
• Strong 1H07 results, in line: Bakrieland reported 1H07 net income of Rp48 B; up 175.5% Y/Y. The reported result came in relatively in line with JPMorgan’s and consensus estimates of Rp117 B (41%) and Rp114 B (42%), respectively. Operating profit also grew strongly, up 228% Y/Y from Rp16.6 B in 1H06 to Rp54.5 B in 1H07. • 2Q07 net income grew by 123% Y/Y: Subtracting the 1Q07 results, 2Q07 net income expanded by 123% Y/Y and 145% Q/Q. Operating profit also grew strongly by 169% Y/Y and 77% Q/Q. The low interest rate and project developments have accelerated the revenue and profit growth during 1H07 and 2Q07. • Land acquisition visibility improves; upgrade PT to Rp630: In less than a month, Bakrieland has managed to acquire 130 ha of land adjacent to its Bogor Nirwana residential project. With that, we believe the visibility of land acquisition has improved. We think there is a higher probability now, say about 70%, that the targeted 500ha acquisition by June-08 can be achieved. Hence, we incorporate the potential 500ha acquisition in our valuation and raise our June-08 PT to Rp630; implying 28.6% upside potential. • Maintain OW and raise PT to Rp630: With strong results recorded and the better visibility of land acquisition, we maintain our OW rating on Bakrieland. Our new Jun-08 price target of Rp630 is derived from a combination of DCF and NAV methods. Risks are: (1) an unexpected interest rate hike; (2) delay in Rasuna Epicentrum project; and (3) delay in land acquisitions.
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