Reuters: Hot Stocks: STOCKS NEWS INDONESIA-CLSA cuts Bukit Asam target price

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STOCKS NEWS INDONESIA-CLSA cuts Bukit Asam target price Nov 6th 2012, 05:53 Tue Nov 6, 2012 12:53am EST CLSA Asia Pacific Markets slashed its target price on PT Bukit Asam Tbk to 17,500 rupiah from 18,500 rupiah, and lowered its rail haulage and production targets by 6 percent for this year and next year. Shares of Bukit Asam were up 1.54 percent at 16,450 rupiah, while the broader index was also up 0.14 percent. "Following PTBA's 3Q12 results and our subsequent site visit last week, we reduce our rail haulage (and production) targets by 6 percent in each of 12CL and 13CL to 13.2mt and 15.1mt respectively, leading to 12-13 percent EPS reductions," CLSA analyst Jayden Vantarakis said in a note on Tuesday. However, the research house maintained its 'outperform' rating on Bukit Asam, and said the state-owned coal producer was preferred by long-term investors. 1222 (0522 GMT) (Reporting by Andjarsari Paramaditha in Jakarta; Editing by Anand Basu) **************************************************************** 12:23 STOCKS NEWS INDONESIA-Macquarie cuts Indofood to 'neutral' Macquarie Equity Research slashed the rating on PT Indofood Sukses Makmur Tbk to 'neutral' from 'outperform', citing falling NAV discount for the stock of Indonesia's largest noodle maker and weak earnings of its subsidiary Indofood CBP. "With INDF's share price having rallied 8.4 percent since last August, the stock's NAV discount has therefore shrunk to just 1.8 percent from 8.8 previously," analyst Lyall Taylor said in a note on Tuesday. "INDF's third-quarter earnings rose by 16.7 percent year on year, seemingly outperforming ICBP, whose earnings declined by 2.2 percent." the note said. PT Indofood CBP Sukses Makmur Tbk, which makes packaged food, said in July it was planning to set up a non-alcoholic beverages joint venture with Japan's Asahi Group worth up to 2 trillion rupiah ($213.11 million) Macquarie also cut Indofood target price to 5,900 rupiah from 6,150 and trimmed its full-year earnings estimates by 5 percent for this year and 7 percent for the next year. Indofood shares were down 0.85 percent at 5,800 rupiah while the broader index was down 0.7 percent. 1141 (0441 GMT) (Reporting by Andjarsari Paramaditha; Editing by Jijo Jacob) Link this Share this Digg this Email Reprints

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