Sunday, November 6, 2011

Remain Positive Result - United Tractors

by BNI Securities

Company remain positive on the forthcoming full year revenue escalation driven by the continuing of positive outlook from the domestic market.

CM forecasted to note 9,000unit of Komatsu sold by the end of next year. Revenue in parts & service targeted to record 10%-15% YoY growth, while MC bussiness projected to post higher coal production and overburden removal by around 10% YoY.

PMM and TTA as another UNTR's revenue driver combined with another potential of company's new mines also judged to support company's next year growth, with a total coal production expected to reach around 6-7mn tons.

Maintained our BUY recommendation on UNTR with target price of IDR 27.800 per share

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