Reuters: Hot Stocks: STOCKS NEWS INDONESIA-BNI Securities cuts Astra Agro to hold

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STOCKS NEWS INDONESIA-BNI Securities cuts Astra Agro to hold Oct 22nd 2012, 04:24 Mon Oct 22, 2012 12:24am EDT BNI Securities Research downgraded PT Astra Agro Lestari Tbk to 'hold' from 'buy' and kept its target price at 22,500 rupiah, citing lower demand from European markets and a fall in crude palm oil (CPO) prices. The plantation company's shares stayed at 20,700 rupiah, while the broader index was down 0.19 percent. "Weakening demand in global market, especially Europe, has dragged down CPO prices," analyst Viviet S Putri wrote in a note on Monday. Putri expects a 25 percent fall in Astra Agro's third-quarter net profit due to weak global demand. The research house also lowered CPO commodity sector rating to 'underweight' from 'neutral', citing higher CPO supply amid weak global demand.

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