*You look pissed, you also mocked other ppl here. What's wrong, dear? Elaine** * On Wed, Sep 2, 2009 at 11:32 AM, artomoro9 <artomo...@yahoo.co.id> wrote:
> > > > ane tanya kang BAGUS dulu yee.. > > regards, > A9 > disclaimerontheway > > --- Pada *Rab, 2/9/09, CUMI.JK (Buy, TP 5000) <cumie...@gmail.com>*menulis: > > > Dari: CUMI.JK (Buy, TP 5000) <cumie...@gmail.com> > Judul: [ob] BUMI (TP Rp3,800) - Citigroup: Upgrade to Buy: Leveraged Play > on Better Thermal Coal Outlook > Kepada: obrolan-bandar@yahoogroups.com > Tanggal: Rabu, 2 September, 2009, 11:20 AM > > > > Kali aja pingin ngelawan Jendral Art, > atau jendral Art mo beli di 2225, jual di 3800? > > ======= > BUY, BUY, BUY! KEEP BUYING AND NEVER SELL! > > > ---------- Forwarded message ---------- > > *Bumi Resources (BUMI.JK)* > > *Upgrade to Buy: Leveraged Play on Better Thermal Coal Outlook* > > *Upgrade to Buy/High Risk; Raising target price to Rp3,800 *— Robust > earnings > > growth outlook and high FCF yield lead us to upgrade our rating to Buy/High > > Risk from Sell/Speculative. The market is pricing in benchmark coal price > of c. > > US$76/ton; meaning upside risks to our US$80-90/ton forecasts for 2010-11. > > *Supportive coal price outlook *— Citi’s commodities team recently raised > its > > thermal coal price forecasts for 2010-11 to US$80-90/ton from US$70, citing > > structural improvement. Prospects of China becoming a sustained net > importer > > of coal provides upside risks to medium and long-term coal price forecasts. > > *Sanity check *— Our IDR3,800 target price imputes an EV/reserve of > > USD5.4/ton (6.8% of 2010E Japan benchmark price of US$80/ton). This > > compares favorably with the implied EV/reserve from Tata’s acquisition at > > US$4/ton (7.3% of 2007 benchmark price of US$55/ton). Our ‘floor valuation’ > > estimate is Rp2,700/share based on DCF and Tata’s implied EV/reserve > > valuation. > > *Convertible Bond – Double-Edged Sword *— With coupon rate of 9.25%, > Bumi’s > > latest US$375m convertible bond is not cheap. Bumi’s capped call option > > reduces the potential dilution risk while its equity swap position > (essentially a > > leveraged long position in Bumi’s stock) is an unequivocal signal to us > that > > management is bullish on Bumi’s medium and long-term outlook. > > *Transfer of Coverage *— We are transferring coverage of BUMI.JK to Kim > Kwie > > Sjamsudin from Margarett Go. > > > > ------------------------------ > Lebih aman saat online. > Upgrade ke Internet Explorer 8 baru dan lebih > cepat<http://us.lrd.yahoo.com/_ylc=X3oDMTFndmQxc2JlBHRtX2RtZWNoA1RleHQgTGluawR0bV9sbmsDVTExMDM0NjkEdG1fbmV0A1lhaG9vIQ--/SIG=11kadq57p/**http%3A//downloads.yahoo.com/id/internetexplorer/>yang > dioptimalkan untuk Yahoo! agar Anda merasa lebih aman. Gratis. Dapatkan > IE8 di > sini!<http://us.lrd.yahoo.com/_ylc=X3oDMTFndmQxc2JlBHRtX2RtZWNoA1RleHQgTGluawR0bV9sbmsDVTExMDM0NjkEdG1fbmV0A1lhaG9vIQ--/SIG=11kadq57p/**http%3A//downloads.yahoo.com/id/internetexplorer/> > >
