hello i'm a young player in stock, has been long as OB member yet not so
active. but really learn a lot from the seniors over here.
just received from this milist a forward daily from kim eng securities about
BLTA q1 result which is very interesting and today hike +10% is just the
beginning. still very cheap according to me.
since BLTA reports 515% increase on Net Income. new EPS Q1 = Rp 208,- which if
we annualized = Rp 832,- or PER 2.58x at current price 2150. this makes BLTA
the cheapest shipping company in the world since it peers trade at 8 -12x, FYI
BLTA 2007 trade at 10 - 15x.
if we take the lowest PE 8x then we will have Rp 6656 as the target price.since
BLTA has high gearing ratio and volatilty to oil price to half of it ships
(since almost 50% operational ship are contract base) we will be pesimistic and
drop the PE to 4 or 5x then we will still have 3328 or 4160 as the target
price.
please comment i'm affraid i'm wrong. thanks
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