Reuters: Hot Stocks: STOCKS NEWS INDONESIA-CIMB raises Telkom target price, cuts BNI

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STOCKS NEWS INDONESIA-CIMB raises Telkom target price, cuts BNI Oct 24th 2012, 09:14 Wed Oct 24, 2012 5:14am EDT CIMB Equity Research raised its target price for PT Telekomunikasi Indonesia Tbk to 10,500 rupiah from 9,000 rupiah per share, saying Indonesia's biggest telecom provider's outlook was lifted by a strong performance at its cellular unit Telkomsel. The research house kept its 'neutral' rating on the stock, saying a deterioration of Telkom's fixed line operations almost offset the gains at Telkomsel. CIMB cut its target price for state-owned lender PT Bank Negara Indonesia Tbk to 4,750 rupiah from 5,200 rupiah per share but kept its 'outperform' rating, saying the bank's loan growth at 15 percent year-on-year did not match the sector's 24 percent growth. Telkom shares were up 1.55 percent at 9,800 rupiah while BNI was down 0.64 percent at 3,875 rupiah. The broader index was down 0.03 percent. 1558 (0858 GMT) (Reporting by Andjarsari Paramaditha,; Editing by xx) ; Editing by Jijo Jacob **************************************************************** 13:34 STOCKS NEWS INDONESIA-Surya Esa resumes production, amends gas price Indonesia's liquefied petroleum gas refiner PT Surya Esa Perkasa has resumed full production after its contracted supply was restored by state-controlled energy firm PT Pertamina EP after improving natural gas wells since the second quarter of this year. "As of October, all improvement works have been completed and the company is operating at full production," corporate secretary Kanishk Laroya said in a statement, adding that long-term gas supply security has been further reinforced through the supplier's improvement works. Surya Esa and Pertamina EP also agreed to amend the existing gas price into a formula-based gas price and PEP will offtake all condensate from the firm through a handling fee structure. Shares of the refiner were steady at 2,700 rupiah, while the broader index was up 0.21 percent. 1305 (0605 GMT) (Reporting by Andjarsari Paramaditha, Editing by Sunil Nair **************************************************************** 10:13 STOCKS NEWS INDONESIA-UOB ups Indosat to 'hold' UOB Kay Hian Research raised its rating on PT Indosat Tbk to 'hold' from 'sell', citing strong growth in mobile services and addition of new subscribers. "Renewed marketing for new packages has generated healthy growth in volume of reloads and new subscribers. Growth momentum for mobile services is expected to pick up in 2H12," analysts Jonathan Koh and Chng Simin wrote in a note on Wednesday. Indosat launched 3G services based on 900MHz in Padang and Bukit Tinggi in early October and will be extending the services to more areas, UOB said. UOB also said the telecom service provider's new Chief Commercial Officer, Alexander Rusli is driving a commercial turnaround and has revived marketing efforts on its Mentari cellular card brand. The research house raised its target price on Indosat to 6,250 rupiah from 4,740 rupiah, backed by higher 2012 and 2013 net profit forecasts due to stabilisation in average revenue per user and sustainable reduction in costs. Indosat's shares were down 0.81 percent at 6,100 rupiah, while the broader index was down 0.06 percent. 1009 (0309 GMT) (Reporting by Andjarsari Paramaditha; Editing by Anand Basu) Link this Share this Digg this Email Reprints

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