Reuters: Hot Stocks: STOCKS NEWS INDONESIA-CIMB ups Timah and Bank Jabar target price

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STOCKS NEWS INDONESIA-CIMB ups Timah and Bank Jabar target price Oct 29th 2012, 09:36 Mon Oct 29, 2012 5:36am EDT CIMB Equity Research raised its price target on PT Bank Jabar Banten Tbk to 1,280 rupiah from 1,040 rupiah, citing accelerated loan growth. However, the research house kept its 'neutral' rating on Bank Jabar, saying a decline in the cost of funds may not be sustainable in the fourth quarter. Bank Jabar shares were down 1.79 percent at 1,110 rupiah. CIMB Equity Research also raised its target price on Indonesia's biggest tin miner PT Timah Tbk to 1,570 rupiah from 1,430 rupiah. However, the research house kept its 'neutral' rating on Timah, saying the outlook for tin prices remain unfavourable. Timah shares were down 1.4 percent at 1,410 rupiah. The brokerage, however, cut its target price on media company PT Indosiar Karya Media Tbk to 1,300 rupiah from 1,500 rupiah, after revising earnings per share for 2012-2014 due to lower ad rate hikes this year. Indosiar was up 1.02 percent at 990 rupiah, while the broader index was down 0.23 percent. 1558 (0858 GMT) (Reporting by Andjarsari Paramaditha; Editing by Anand Basu) (andjarsari.p@thomsonreuters.com)(+62 21 3199 7170)(Reuters Messaging: andjarsari.p.thomsonreuters.com@thomsonreuters.net)); **************************************************************** 13:19 STOCKS NEWS INDONESIA-Agis surges on gold mine project Shares in Indonesian electronics distributor PT Agis , jumped as much as 8 percent on Monday after company said it was working with China Coal Geology Mining on a gold mine exploration project. Agis' mining unit PT Agis Resources, has invited the China's state-owned coal firm to work on its 5,000-hectare gold mine project in West Sumatra, according to a media report. The goldmine is expected to start production by next year. Shares of the Indonesian electronic retailer were up 6 percent at 530 rupiah, while the broader index was down 0.10 percent. 1305 (0605 GMT) (Reporting by Andjarsari Paramaditha, Editing by Anupama Dwivedi) *************************************************************** 12:27 STOCKS NEWS INDONESIA-CLSA cuts Astra Intl to 'underperform' CLSA Asia Pacific Markets downgraded PT Astra International Tbk to 'underperform' from 'outperform', saying the company's earnings are at a risk due to uncertainty in coal prices and the shares are expensive compared with peers. "Astra's auto business is flourishing; more so with LCGC's potential boost to sales. Other automakers might follow suit, but Astra looks most ready... However, 28% of its earnings are at risk, mainly UT with much uncertainty in coal price direction," analysts Sarina Lesmina and Edward Tanuwijaya said in a note on Monday. Astra's commodity related businesses such United Tractors and palm oil company Astra Agro Lestari are at risk due to the drop in coal prices and lower crude palm oil demand. "Long term story intact, but at 15.9x PE13, Astra is expensive amidst the headwinds," the analysts said. CLSA trimmed its full-year earnings forecast for Astra by 7-8 percent for the years 2012-2014 and slashed its target price for the company's shares to 7,750 rupiah from 8,000. At 12.20 am (0520 GMT) shares of the car maker were down 0.63 percent at 7,900 rupiah. The broader index was down 0.22 percent. 1221 (0521 GMT) (Reporting by Andjarsari Paramaditha; Editing by Anupama Dwivedi) Link this Share this Digg this Email Reprints

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