Reuters: Hot Stocks: STOCKS NEWS INDONESIA-Macquarie cuts Mitra Adiperkasa target price

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STOCKS NEWS INDONESIA-Macquarie cuts Mitra Adiperkasa target price Sep 27th 2012, 05:35 Thu Sep 27, 2012 1:35am EDT Macquarie Equity Research cut its target price on retailer PT Mitra Adiperkasa Tbk to 9,000 rupiah from 9,200, lowering its full year 2012-2013 earnings estimate by 5 percent due to higher tax and assumptions of losses on its food and beverages brands. The broker, however, kept its 'outperform' rating on the stock, attributing it to strong structural growth. Second-quarter earnings showed strong top-line trends, and the margin weakness is due to accounting policy changes and other temporary factors, Macquarie analyst Lyall Taylor said in a note on Thursday. "We have nevertheless reduced our FY12-13E estimates by 5 percent due to higher tax and F&B brand start-up losses assumptions. However, these are short-term factors, and we still remain 5.6 percent and 12.6 percent above the FY12-13E consensus." In Indonesia, Mitra Adiperkasa operates food and beverages chains such as Starbucks, Burger King, Domino's Pizza as well as fashion retailers like Marks & Spencer, Zara and TopShop. Shares of the branded retailer were up 0.79 percent at 6,350 rupiah. The broader index was up 0.73 percent. 1133 (0433 GMT) (Reporting by Andjarsari Paramaditha in Jakarta; Editing by Prateek Chatterjee) **************************************************************** 10:03 STOCKS NEWS INDONESIA-UBS raises Bank Negara Indonesia target price UBS Investment Research raised its target price on shares of PT Bank Negara Indonesia Tbk to 4,950 rupiah from 4,800 rupiah and kept 'buy' rating on the stock, citing higher earning per share (EPS) estimates and stronger productivity. "We upgrade our EPS estimates by 3% to 6% as we have become more positive with the fee income story, and are more aware of the bank's lending and funding strategies. We are also more convinced of BNI likely productivity gains, a key investor pushback," UBS analyst Joshua Tanja wrote in a note on Thursday. "Customer transactions at BNI are increasingly done through the electronic channels. The increased use of commissioned-based agents for consumer banking and the focus strategy on key industries for business banking should also lead to productivity gains" Tanja said. Shares of the state-owned lender stayed at 3,950 rupiah, while the broader index was up 0.59 percent. 0957 (0257 GMT) (Reporting by Andjarsari Paramaditha) Link this Share this Digg this Email Reprints

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