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Thursday, February 22, 2018

Indonesia - Stock Picks for Today - February 23, 2018: SMGR, ITMG, UNTR, INCO, WEGE, PGAS, MEDC, KLBF, AKRA, BBRI, ADRO, BBNI, WSKT, KRAS, JSMR, ELSA



1. Semen Indonesia (SMGR)
  • Indonesia's cement consumption rose 9.9 per cent YoY to 5.68Mt in January 2018. The growth of demand is being attributed to rising cement demand on the back of the government-led infrastructure development programmes, particularly the construction of toll roads.
  • Widodo Santoso, Chairman of the Indonesian Cement Association (ASI), said cement consumption rose at similar levels across the country. Highest growth was reported on Sumatra, traditionally the second-biggest cement-consuming island in Indonesia, where a 17.8 per cent increase in cement sales to 1.21Mt was detected in the first month of the year.
2.  Indo Tambangraya Megah (ITMG)
  • ITMG posted net profit in 2017 of US $252.61 million or jump 93.26% compared to year 2016 US $130.71 million.
  • The company's net profit surged to increase sales. This coal company posted sales of US $1.69 billion, up 23.55% from the year 2016 of $1.37 billion US.
  • ITMG recorded the cost of revenue US $1.18 billion. The gross profit in 2017 of US $505.45 million, up from 2016 US of $330.69 million.
3. United Tractors (UNTR)
  • The rise in coal prices supported the UNTR growth performance. Until November 2017 UNTR still recorded solid performance. This is reflected from the sale of Komatsu in November 2017 reached 406 units or grew 30.3% month on month (mom) and soaring 108.7% year on year (yoy).
  • This year's UNTR projected sales of Komatsu reaches 3,898 units or 2.6% above target UNTR as much as 3,800 units.
  • The company projected revenue this year could reach Rp 72 trillion with net profit reach Rp 9 trillion.
4. Vale Indonesia (INCO)
  • Demand for nickel as stainless steel raw materials increased over the past year. It can be seen from the increasing of stainless steel production. Global stainless steel production continued to rise 5.7% in 2017 compared to 2016.
5. WIKA Gedung (WEGE)
  • Pelindo III signed three contracts worth more than Rp 1.2 trillion in project-related infrastructure development in the maritime sector, which is part of the plan year 2018 worth Rp 12 trillion.
  • Maritime development project is located at the three ports, Tanjung Perak in Surabaya, Benoa in Bali and Gili Mas Lembar in Lombok.
  • The company involving the maritime project specialist from Netherlands, Van Oord and two contractors which is a synergy between PT Wika Gedung (WEGE) and PT Pembangunan Perumahan (PTPP).
  • WEGE will work on the design and construction of a cruise ship dock and container dock at Gili Mas Terminal, which is the development of the Lembar port, Lombok, West Nusa Tenggara.
6. Perusahaan Gas Negara (PGAS)
  • PGN will manage Pertamina business gas from midstream to downstream. The company's merger with Pertagas targeted completion in March.
  • Establishment of state-owned oil gas holding could potentially boost the financial performance of PGAS in the long term.
  • Revenue target revised went up by 18% to US $3.63 billion in 2018, compared to an estimate of the year 2017 US $2.91 billion.
  • The increase due to inclusion Pertagas in the financial statements of the company. The net profit projection also increased by about 48% to US $376 million this year, compared to the same period of the previous year's estimate was US $221 million.
7. Medco Energy International (MEDC)
  • MEDC posts revenue of US $597.53 million at the end of 2017, or up 52.64% compared to the previous year.
  • This energy company posts net income amounted to $164.32 million US. In the previous year, Medco recorded a loss of $149.57 million US.
  • In the same period, the company recorded a liability of US $2.93 billion, and equity of US $1.06 billion. Meanwhile, corporate assets are US $4 billion.
8. Kalbe Farma (KLBF)
  • The company intends to give dividend this year. Dividend distribution has become a yearly policy by a ratio of about 45 - 55% of net profit.
  • KLBF will propose dividend payment at the general meeting of shareholders are planned to be held May-June 2018. By the rules, the dividend distribution will be done one month after AGM.
9. AKR Corporindo (AKRA)
  • Daily (5,900): currently, looks bullish spinning top candle pattern which indicates a potential stimulus to buy on the stock price movement. Accumulation buy 5,800 level on areas – 6,000, with a target price of 6,100 level gradually, 6,200 and 6,300. Support: 5,800.
10. Bank Rakyat Indonesia (BBRI)
  • Daily (3,770): currently, looks bullish dragonfly doji candle pattern which indicates a potential stimulus to buy. Accumulation buy at 3,750 levels – 3,800 area, with target prices gradually in level 3,890 and 3,920. Support: 3,650.
11. Adaro Energy (ADRO)
  • The company's profits until quarter III 2017 reached US $495 million, up 76% over the same period last year.
12. Bank Negara Indonesia (BBNI)
  • Analysts predicted the stock price would potentially rally to Rp 11,500. In the middle of the company's management plan to doing stock split and emissions convertible bonds, BBNI fundamentally still considered prospective.
  • According to analysts, the reasonable stock price is in level of Rp 11,500. You see, the position of the PBV belongs is not high, so it is still attractive to investors.
  • BNI has a bright prospect since the bank was applying portfolio diversification credit segment. BBNI is now the focus of applying the principle of prudential banking are more restrictive, for example by raising the coverage ratio.
13. Waskita Karya (WSKT)
  • Analysts argued that the impact of elevated road delays will only happen temporarily, and the inclusion of new projects will never stop.
  • WSKT still holds the largest contracts nominally at last year's Rp 69.97 trillion. This year, WSKT predicted still get the largest contract amounting to Rp 70 trillion.
  • In 2017, WSKT recorded revenue growth and net income to triple digits each 132.57% and 219.39 %. The company recorded a revenue of Rp 52,4 trillion and net profit of Rp 4,35 trillion on last year. This achievement indicates WSKT remains the biggest issuer in the construction sector.
14. Krakatau Steel (KRAS)
  • Daily (510): currently, white marubozu closing candle pattern which indicates a potential stimulus to buy. Accumulation buy level area at 500 – 525, with a target price of 545 level gradually, 595, 625, 650 and 755. Support: 500 & 464.
15. Jasa Marga (JSMR)
  • Daily (5,525): currently, looks bullish harami candlestick pattern that indicates a potential stimulus to buy. Accumulated buy on area level 5,500-5,575, with target prices gradually in level, 6,050 5,775, 6,300 and 6,600. Support: 5,400 & 5,275.
16. Elnusa (ELSA)
  • Oil prices began to recover accompanied by the expansion of oil and gas blocks by PT Pertamina made the performance of PT Elnusa this year need not doubt.
  • This year 2018, analysts predict the price of oil reach US $80 per barrel. In addition, the Government's policy on oil and gas companies merge into a holding has also become a positive sentiment for the ELSA.


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