Reuters: Hot Stocks: STOCKS NEWS INDONESIA-Macquarie raises ACE Hardware target price

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STOCKS NEWS INDONESIA-Macquarie raises ACE Hardware target price Aug 3rd 2012, 05:30 Fri Aug 3, 2012 1:30am EDT Macquarie Equities Research raised its target price on PT ACE Hardware Indonesia Tbk to 8,000 rupiah from 6,000 rupiah, backed by a higher medium-term earnings track and improving valuation. "ACES continues to deliver outstanding growth and operational performance, and we believe the stock remains inexpensive ... vs its potential. ACES remains one of our highest conviction small cap Indonesian consumer picks," Macquarie analyst Lyall Taylor in a note on Friday. Shares of the commercial and industrial supplies company have gained 45 percent this year until Thursday, according to Thomson Reuters data, while revenue and operating margins continued to grow. The brokerage kept its 'outperform' rating on shares of the company, which is also a retailer of household appliances. At 1222am (0522 GMT) company's stock was down 2.5 percent at 5,800 rupiah while the broader index was down 0.48 percent.

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