Search result for: "stable outlook"

Express Transindo (TAXI IJ) is Indonesia’s second largest taxi operator that offers: i) a high predictability of future cash flow due to daily fixed payments, ii) robust volume-driven growth, and iii) minimum exposure to operating expenses such as fuel and maintenance. We initiate coverage with a BUY and DCF-based TP of IDR2,100, providing a potential.

While the growth of Indonesia’s media industry has slowed down to 9% (from a 21% mean in 2010-2014), media is still the most effective tool to promote consumer products, due to its long-term prospects. We believe ad spending may improve when the economy recovers. We initiate coverage on the sector with a NEUTRAL rating and.

We reinitiate coverage on Surya Citra with a BUY and DCF-derived IDR3,000 TP, implying 29.1x/25.4x FY15F/FY16F P/Es. We believe local consumer firms will face macroeconomic headwinds in the near term, resulting in an ad spend slowdown in FY15. Yet, we do not think advertisers can cut ad spend for too long given Indonesia’s attractive structural.

We reinitiate coverage of Ace Hardware Indonesia, Tbk (ACES IJ) with a NEUTRAL and a DCF-derived TP of IDR640, implying 20x/18x FY15/16F P/E. This year proves challenging due to a weak IDR vs USD which might erode ACES’ lifestyle product gross margin, increasing inventory days, while its aggressive store expansion plan might further lower its.

We initiate coverage on Surya Citra with a BUY and DCF-derived IDR3,400 TP, implying 29.0x/25.0x FY15F/FY16F P/Es. We believe local consumer firms will face macroeconomic headwinds in the near term, resulting in an ad spend slowdown in FY15. Yet, we do not think advertisers can cut ad spend for too long given Indonesia’s attractive structural.

Logindo’s 2Q14 net profit jumped 10.4% q-o-q and 70.1% y-o-y to USD6m, pushing its 1H14 net profit 66.2% higher y-o-y to USD12m. This is in line, accounting for 52% of our FY14 net profit assumption. We remain upbeat on the 2015 outlook for the OSV (offshore supply vessel) sector. The stock is now trading at.

Logindo (LEAD) is to book an 83% net profit CAGR for the three years to 2014, spurred by its strong fleet expansion to higher-tier vessels. Its relatively young fleet age, lucrative margins and strong industry track record are precursors of greater things. We initiate coverage with a BUY and IDR3,450 TP, implying an 8.5x 2014.

Logindo (LEAD) is to book an 83% net profit CAGR for the three years to 2014, spurred by its strong fleet expansion to higher-tier vessels. Its relatively young fleet age, lucrative margins and strong industry track record are precursors of greater things. We initiate coverage with a BUY and IDR3,450 TP, implying an 8.5x 2014.

LEAD to book net profit CAGR of 83% for the three years to 2014, spurred by strong fleet expansion to higher-tier vessels. LEAD has relatively young fleet age & lucrative margins. Its strong track record with well-known O&G companies is a precursor for greater things to come. We have a BUY call with TP IDR3,450,.

LEAD to book net profit CAGR of 83% for the three years to 2014, spurred by strong fleet expansion to higher-tier vessels. LEAD has relatively young fleet age & lucrative margins. Its strong track record with well-known O&G companies is a precursor for greater things to come. We have a BUY call with TP IDR3,450,.