JP Morgan nya sendiri ikutan beli kagak yah ? jangan2 ntar ngacir deh.....hehehehe.........
----- Original Message ----- From: Joe Grunk To: [EMAIL PROTECTED] Sent: Thursday, August 02, 2007 2:22 PM Subject: [obrolan-bandar] JP Morgan raised ELTY target price again on the back of strong results, now to Rp 630/sh..... Untuk penggemar Elty . 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. ------------------------------------------------------------------------------ Choose the right car based on your needs. Check out Yahoo! Autos new Car Finder tool.
