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Sunday, October 16, 2011

STRATEGY: Risk to lag when the dust settles?

by Credit Suisse

@JCI 3,636pts, CS Indonesia Universe is trading on 13.5x-11.7x 11F-12F PER on the back of 27%-15% EPS Growth, with 4-years Fibonacci trading range now 3,463pts-4,196pts. I agree with Teddy to accumulate Financial (BMRI, BBRI, then BTPN, BBNI and BBCA), Material (PTBA, ITMG, HRUM and SMGR), and Industrial (UNTR). Hold ASII as Thailand flood may have negative sentiment more than earnings downside. I continue to agree with Teddy Oetomo Indonesia is still trading at a premium to peers, combined with its relatively thin trading liquidity, the Indonesia market may continue to be exposed to the high volatility ahead given the current global financial market uncertainty. Buy on Weakness Indonesia!

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