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IHSG potensi kembali lanjutkan rally

WSKT - Propitious time to carry on last year performance

Waskita Karya (WSKT) – BUY (Initiate)

Price: Rp1,820 – Target Price: Rp2,300

Propitious time to carry on last year performance

  • Singing a different tune.
  • Extra room to wiggle.
  • My way or the highway!.

 

ITMG – 2014 results meets expectations

Indo Tambangraya Megah (ITMG) – HOLD (Maintain)

Price: Rp16,700 – Target Price: Rp17,725

2014 results meets expectations

  • EBIT declined 24% in 2014.
  • Offsetting lower coal prices by reducing stripping ratio.
  • Discounted to peers due to shorter mine life.

 

SMGR - Mixed messages

Semen Indonesia (SMGR) – SELL (Maintain)

Price: Rp14,675 – Target Price: Rp12,000

Mixed messages

  • Government optimism vs. SMGR’s rationale.
  • Three major obstacles: financing, land clearing and bureaucracy.

 

ROTI - Leavening expectations

Nippon Indosari Corpindo (ROTI) – BUY (Maintain)

Price: Rp1,250 – Target Price: Rp1,435

Leavening expectations

  • FY14 sales and profit growth likely at low end of range.
  • Worst case scenario with Yamazaki appears averted.
  • Remains the fastest growing among peers; Maintain BUY.