Market Outlook

Head-start 30-07-2010

 

BUY: (ADHI, ANTM, BBKP, BUMI)

  • Bila terjadi koreksi pasca IHSG mencetak new high rekomen akumulasi di beberapa counter selektif karena tren masih positif.

 

  • IHSG close (29-07) 3.096.820(+39.340/+1.29%) (Val.Rp.2.7T)

 

  • Support: 3.070-3.030-2.960, Resistance: 3.150-3.250

 

Stock picks:

 

1.    Adhi Karya (ADHI): (BUY) (Target: Rp.730) (close 29/07 Rp.660)

  • Secara valuasi PBV09 (1.59x) paling murah di sector konstruksi versus: Wika (2.05x) & PTPP (3.35x), sehingga potensi untuk meneruskan uptrend yang kuat masih ada.

 

  • Indikator daily stochastic sudah diatas 50-line, MACD-cross buy & DMI positif.

 

  • Bila ada pullback rekomen akumulasi

 

  • Entry: (1) Rp.650, Entry (2) Rp.620, cut-loss point: Rp.570

 

 

 

2.    Aneka Tambang (ANTM) (BUY): (Target: Rp.2.350) (Close 29/07 Rp.2.150)

  • Sentimen positif dari peningkatan kinerja keuangan di 2Q 2010 dapat menahan profit taking lebih lanjut sehingga rekomen akumulasi untuk teknikal rebound

 

  • ANTM masih terdiskon 20% dari high 2.600 yang dicapai di bulan April lalu, sehingga potensi upside madih banyak.

 

  • Entry (1) Rp.2.100, (2) Rp.2.025, Cut loss point: Rp.1.950

 

 

3.   Bank Bukopin (BBKP) (BUY): (Target: Rp.710) (Close 29/07 Rp.650)

  • Pasar optimis terhadap kinerja 1H 2010 dimana akan terlihat re-valuasi loan asset yang dimiliki & pertumbuhan kredit di sector mikro konsumen terus tumbuh.

 

  • Secara valuasi PER/PBV09 masih jauh tertinggal versus BBTN, BBRI, BJBR, SDRA sehingga akan adjust keatas dalam waktu dekat ini.

 

  • Entry: (1) Rp.650, Entry: (2) 630, Cut loss point: Rp.610

 

 

 

4.   BUMI Resources (BUMI): (BUY) (Target: Rp.1.850) (close 29/07 Rp.1.720)

  • Resiko hutang akan berkurang pasca rights issue, penjualan anak usaha & IPO Bumi mineral sehingga investor akan mulai melihat valuasi termurah di sektornya menjadi katalis untuk akumulasi.

 

  • Entry: (1) Rp.1.710, Exit (2) Rp.1.660, Cut-loss point: Rp.1.630

 

 

Yuganur Wijanarko

Senior Research. (Yuganur@hdx.co.id)

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