L A P O R A N H A R I A N

22 Desember, 2014

L A P O R A N H A R I A N

RISET

Penutupan Americas INDU Index SPX Index CCMP Index IBOV Index

Prb

%Prb

%Ytd

P/E

17,804.80 2,070.65 4,765.38 49,650.98

26.65 9.42 16.984 1155.28

0.15 0.46 0.36 2.38

7.41 12.03 14.10 (3.60)

15.91 18.31 44.57 16.81

6,545.27 4,241.65 9,628.89 10,363.60 18,983.83 418.37 8,976.24

79.27 -7.84 -206.13 -27.7 -77.16 1.93 -36.87

1.23 -0.18 -2.10 -0.27 -0.40 0.46 -0.41

(3.02) (1.26) (5.38) 4.51 0.08 4.13 9.43

18.69 25.29 3.87 21.71 #N/A N/A 21.09 20.42

17,607.74 23,311.92 3,129.27 9,050.10 1,932.82 5,144.62 1,514.35 7,137.96 27,371.84

-13.66 195.29 20.671 50.58 2.84 31.276 -2.44 12.33 245.27

-0.08 0.84 0.66 0.56 0.15 0.61 -0.16 0.17 0.90

8.08 0.02 47.89 5.09 (3.90) 20.37 16.60 21.19 29.29

21.59 9.86 14.90 14.99 32.82 19.92 16.90 20.56 19.03

26.61

0.81

4.38

13.41

Terakhir Sebelumnya 5,142.82 5,110.87 6,680.00 6,380.13 5,370.00 4,772.90 803.89 748.09

%Prb 0.63 4.70 12.51 7.46

EMEA UKX Index CAC Index RTSSTD Index IBEX Index FTSEMIB Index AEX Index SMI Index

Asia / Pacific NKY Index HSI Index SHCOMP Index TWSE Index KOSPI Index JCI Index SET Index PCOMP Index SENSEX Index FSSTI Index

3,306.14

Deskripsi Kapitalisasi Pasar (IDR Triliun) Volume Transaksi (Juta Saham) Nilai Transaksi (IDR Juta) Nilai/ saham (IDR) Net Asing (IDR Juta)

(1,896,528.25)

Komoditas Nikel/Nickel (US$/Ton) Tembaga/Copper (US$/Ton) Timah/Tins (US$/Ton) Minyak/Oil (US$/BBL) (*) Gas (US$/MMBTU) Batu Bara/Coal (US$/Ton) (**) Emas/Gold (USD/OZ) CPO PALMROTT(USD/ton) CPO MALAYSIA(RM/ton)

(808,685.13)

134.52

Terakhir Sebelumnya 15,600.00 15,650.00 6,400.00 6,315.00 19,175.00 19,100.00 56.52 54.11 3.85 3.71 61.80 62.15 1,196.55 1,196.35 702.50 740.00 2,153.00 2,148.00

%Prb -0.32 1.35 0.39 4.45 3.89 -0.56 0.02 -5.07 0.23

No 1 2 3 4 5

Stock BBRI IJ SIAP IJ BMRI IJ TLKM IJ BBCA IJ

Top Value (IDR) 380,587,900,000 252,048,400,000 249,887,400,000 237,780,200,000 219,557,300,000

No 1 2 3 4 5

Stock BUMI IJ SIAP IJ APOL IJ BORN IJ ENRG IJ

Top Volume (Shares) 826,066,500.00 575,771,200.00 390,436,800.00 366,947,600.00 327,363,500.00

No 1 2 3 4 5

Top Gainers BUMI IJ BRAU IJ MTFN IJ KARW IJ BORN IJ

% change 33.96 24.07 22.78 18.22 18

No 1 2 3 4 5

Top Losers ASJT IJ TRAM IJ VOKS IJ APOL IJ GEMA IJ

% change -24.82 -22.6 -11.11 -10.75 -8.18

No Leading Movers 1 BBCA IJ 2 INTP IJ 3 UNVR IJ 4 EMTK IJ 5 ICBP IJ

% change 1.54 3.27 0.95 6.56 2.71

No Lagging Movers 1 GGRM IJ 2 BBRI IJ 3 PTBA IJ 4 INCO IJ 5 ISAT IJ

% change -2.06 -0.65 -2.62 -2.12 -3.36

5,000

(**) McCloskey Newscatle

Saham Telkom

Penguatan IHSG didorong sentimen positif global

14,990

(*) WTI Cushing

ADR Stocks

PERKIRAAN PASAR HARI INI

Bloomberg Code Kode TLK US

Terakhir Terakhir % Konversi (Rp) (US$) Prb (Rp) Last (US$) %Change Conv (Rp) Last (Rp) 44.57 -1.13 13,855.70 2,815.00

12,310

4,500

9,630

4,000

6,950

3,500

4,270

3,000 1-Jan

Daily Report dapat dilihat di website BNI Securities : www.bnisecurities.co.id

1,590 11-Mar

20-May Volume (RHS) (Bn Shares)

JCI (LHS)

29-Jul

Laporan Harian – 22 Desember, 2014

P E R K I R A A N P A S A R H A R I I N I Penguatan IHSG didorong sentimen positif global

Di Amerika Serikat, Indeks Dow Jones dan S&P 500 bergerak menguat sepanjang minggu lalu, masing‐masing naik lebih dari 3% sementara Nasdaq menguat 2,4%. Minggu ini indeks diperkirakan masih akan melanjutkan penguatannya dalam volume tipis disaat minimnya katalis baru yang akan muncul disaat sisa akhir tahun ini, setelah hasil dari pertemuan FOMC yang menyatakan the Fed tidak akan segera menaikkan suku bunga Amerika Serikat di tahun 2015. Bursa Eropa ditutup variatif pada perdagangan hari Jumat (19/12) kemarin. Data ekonomi yang rilis antara lain Kepercayaan Konsumer Jerman yang naik di bulan Januari 2015 ke level 9,0 dari sebelumnya 8,7. Sementara itu Indeks Harga Produser (PPI) Jerman tumbuh 0,0% MoM di bulan November sebesar ke level 105,5 sama dengan level bulan Oktober, atau turun 0,9% YoY (Oktober: ‐1,0%). Saham‐saham Asia pagi ini naik ditengah peningkatan harga komoditas . Indeks MSCI Asia Pasifik telah menguat 0,3% didorong oleh saham‐ saham berbasis energi dan pertambangan. Dari dalam negeri, Menteri Keuangan Bambang Brodjonegoro menyatakan ada potensi tambahan ruang fiskal sebesar Rp140 triliun yang didapat dari pemangkasan subsidi BBM yang dapat dialokasikan sebagai tambahan belanja modal Pemerintah tahun depan. Hari ini IHSG berpotensi menguat didorong oleh penguatan regional di kisaran 5.120 – 5.180 dengan saham‐saham pilihan BBRI, ASII, UNVR, PTPP, BUMI dan KIJA. Analyst: Yasmin Soulisa ([email protected])

2


R I N G K A S A N B E R I T A •

PT United Tractors Tbk (UNTR), emiten alat berat anak usaha PT Astra International Tbk (ASII), telah menandatangani perjanjian pengikatan jual beli saham dengan PT Acset Indonusa Tbk (ACST), emiten konstruksi pada 18 Desember 2014. Perjanjian tersebut terkait transaksi pembelian sebagian besar saham Acset Indonusa, untuk ekspansi usaha United Tractors.

•

PT Tiga Pilar Sejahtera Food Tbk (AISA) atau TPS Food, emiten produsen makanan, beras, dan perkebunan sawit, merambah ke lini bisnis minuman dengan investasi Rp 100 miliar. Perseroan berencana membangun pabrik minuman ringan dengan mitra asing di Solo, Jawa Tengah, pada kuartal II tahun depan.

•

PT Indofood Sukses Makmur Tbk (INDF), emiten makanan dan minuman, pada 19 Desember 2014 telah menandatangani nota kesepahaman (memorandum of understanding/MoU) dengan BRF SA (BRF), produsen dan eksportir protein hewani asal Brasil. Kerjasama tersebut merupakan upaya mempercepat pertumbuhan usaha, dengan memasuki segmen makanan berbahan dasar protein hewani.

•

Source : Investor Daily, Kontan, Indonesia Finance Today, Inilah, Viva News

3


A N A L Y S T S T A R G E T P R I C E Market Capitalization Banking BBCA IJ Equity BBNI IJ Equity BBRI IJ Equity BMRI IJ Equity Average

EPS Growth PER 1 Year FY15F

PBV FY15F

PEG DER (x) ROE (%) Ratio

Rec

TP (Rp/share)

Total Return 1 Year in 2013

% of Free Float Shares

255,795,728,750,000 81,774,358,577,100 215,238,438,450,000 210,583,333,303,250

10.50 18.00 15.20 14.50 14.55

15.02 8.10 8.66 9.43 10.30

4.20 1.79 2.72 2.41 2.78

1.43 0.45 0.57 0.65 0.78

0.08 0.10 0.05 0.07 0.08

17.00 24.00 35.00 22.20 24.55

BUY BUY BUY BUY

14,500 7,800 14,000 13,000

1.11 7.43 10.52 2.16 5.30

50.83 39.78 43.25 40.00

92,491 97,870 3,974 17,471 52,952

11.31 11.22 16.05 11.19 12.44

13.96 13.67 8.93 15.36 12.98

2.97 3.40 1.35 2.06 2.44

1.24 1.22 0.56 1.37 1.10

0.01 0.20 0.02 0.42 0.16

21.28 24.88 15.07 13.39 18.65

BUY BUY HOLD HOLD

27,500 18,500 420 2,350

30.43 24.22 7.28 ‐9.58 20.64

35.97 48.99 23.76 19.36

Telecommunication EXCL IJ Equity TLKM IJ Equity Average

38,575,897,814,840 227,303,991,882,000

15.80 10.50 13.15

29.39 9.24 19.31

2.53 3.81 3.17

1.86 0.88 1.37

1.08 0.10 0.59

7.20 16.20 11.70

BUY BUY

5,400 3,250

‐12.77 22.01 4.62

33.52 48.81

Transportation GIAA IJ Equity TAXI IJ Equity Average

10,912,960,072,000 3,132,580,000,000

8.50 13.22 10.86

11.05 20.89 15.97

0.83 3.95 2.39

1.30 1.58 1.44

0.20 1.20 0.70

8.20 18.91 13.56

HOLD BUY

500 1,413

‐25.54 106.05 40.26

27.97 49.00

282,373 8,946 145,659

9.83 44.88 27.36

12.79 29.73 21.26

2.68 1.46 2.07

1.30 0.66 0.98

0.77 2.13 1.45

20.94 10.58 15.76

HOLD HOLD

7,750 3,500

15.22 ‐29.51 ‐2.26

49.91 10.46

PBV FY15F


Cement INTP IJ Equity SMGR IJ Equity SMBR IJ Equity SMCB IJ Equity Average

Automotive ASII IJ Equity IMAS IJ Equity Average

Market Capitalization


Rec

TP (Rp/share)



Construction WIKA IJ Equity ADHI IJ Equity PTPP IJ Equity WSKT IJ Equity TOTL IJ Equity WTON IJ Equity Average

17,986 4,629 14,043 9,680 3,325 10,284 9,991

24.75 25.37 34.95 25.66 21.80 29.62 27.03

23.63 13.13 22.12 20.99 19.81 26.83 21.08

4.63 2.68 5.66 3.66 4.43 5.31 4.39

0.95 0.52 0.63 0.82 0.91 0.91 0.79

0.41 0.95 0.77 0.68 0.12 0.80 0.62

19.59 20.39 25.59 17.43 22.34 19.80 20.86

BUY BUY BUY BUY HOLD HOLD

3,340 3,150 3,450 1,150 1,000 1,270

75.75 56.13 150.95 109.40 #N/A N/A 64.87 91.42

34.73 49.00 43.62 26.55 100.00 34.57

Infrastructure PGAS IJ Equity JSMR IJ Equity Average

146,055 44,200 95,128

4.86 15.60 10.23

13.93 26.13 20.03

3.73 4.23 3.98

2.87 1.67 2.27

0.41 1.23 0.82

26.74 16.19 21.46

HOLD BUY

6,325 7,500

24.76 23.27 24.76

43.03 29.99

8,281 2,927 168 3,616

‐78.92 399.80 792.35 ‐ 13.74

30.80 0.71 17.48 1.37 5.17 0.66 1.49 0.35 0.77 371.08

‐0.39 0.04 0.01 ‐ ‐0.11

1.62 0.48 2.52 1.28 1.47

3.69 8.09 13.50 26.21 12.87

Not Rated HOLD Not Rated Not Rated

‐ 538 ‐ ‐

60.63 132.82 12.63 ‐19.83 46.56

49.14 34.29 39.35 93.46

11,691 7,401 3,579 33,620 20,398 5,258 5,818 7,089 4,893 6,768 25,525 27,116 22,362 6,273 13,414

9.21 20.21 66.49 ‐16.86 21.98 33.95 21.77 34.87 38.37 ‐12.24 15.61 ‐7.60 10.90 37.82 19.60

8.49 7.57 7.94 13.43 13.70 10.41 9.16 12.17 9.32 7.64 13.10 16.82 17.37 8.89 11.14

0.92 0.37 0.12 ‐0.80 0.62 0.31 0.42 0.35 0.24 ‐0.62 0.84 ‐2.21 1.59 0.24 0.17

0.89 0.95 0.35 0.40 0.43 0.51 0.18 0.22 0.55 0.74 0.46 0.61 0.56 0.13 0.50

20.95 14.08 7.53 18.24 19.62 13.87 22.79 17.90 18.73 11.99 30.22 11.57 22.80 11.50 17.27

HOLD HOLD Suspend Coverage BUY HOLD HOLD BUY HOLD BUY HOLD HOLD HOLD BUY BUY

485 395 ‐ 2,260 1,485 780 2,950 748 1,075 435 490 1,225 1,650 418

‐10.75 27.14 ‐51.65 15.06 43.32 20.95 40.80 30.59 9.25 27.57 80.36 8.60 41.14 39.27 22.98

48.23 29.93 66.55 39.88 61.27 43.75 37.34 38.64 68.51 64.04 42.38 82.12 67.69 80.15

Oil & Gas MEDC IJ Equity ELSA IJ Equity RUIS IJ Equity ENRG IJ Equity Average Property ASRI IJ Equity APLN IJ Equity BKSL IJ Equity BSDE IJ Equity CTRA IJ Equity CTRP IJ Equity CTRS IJ Equity BEST IJ Equity SSIA IJ Equity MDLN IJ Equity PWON IJ Equity LPKR IJ Equity SMRA IJ Equity KIJA IJ Equity Average

1.78 1.07 0.60 2.45 2.69 1.44 2.09 2.18 1.75 0.92 3.96 1.95 3.96 1.02 1.99

4


A N A L Y S T S T A R G E T P R I C E Market Capitalization


PBV FY15F


Rec

TP (Rp/share)



Agriculture AALI IJ Equity BWPT IJ Equity LSIP IJ Equity SGRO IJ Equity SIMP IJ Equity SMAR IJ Equity Average

40,825,264,125,000 6,013,779,803,750 15,419,672,560,900 4,025,700,000,000 14,630,086,750,000 19,818,134,225,400

11.49 20.18 13.85 1.09 18.37 25.53 15.09

13.82 2.81 12.40 11.47 12.42 11.48 10.73

2.76 0.61 1.65 1.30 0.67 3.64 1.77

1.20 0.14 0.90 10.52 0.68 0.45 2.31

0.20 2.50 0.15 1.00 0.76 3.04 1.28

19.96 21.64 13.34 11.29 5.36 31.70 17.22

BUY BUY BUY BUY BUY BUY

31,250 835 2,330 2,660 980 9,975

47.06 2.84 23.59 0.77 ‐6.46 19.91 14.62

20.32 37.15 40.52 32.95 21.60 2.80

Metal ANTM IJ Equity INCO IJ Equity TINS IJ Equity Average

9,681,536,900,000 25,337,663,736,000 6,895,237,400,000

n.a 33.49 26.39 10.88

4.98 14.84 8.95 28.44

0.64 1.66 1.09 1.26

n.a 0.44 0.34 2.49

0.54 0.33 0.80 0.75

12.92 11.18 12.19 4.91

HOLD BUY BUY

1,100 4,910 1,395

‐16.70 ‐3.55 ‐3.29 ‐7.85

34.99 20.49 35.00

36,943,786,110,000

12.77 ‐45.79 ‐5.38 2.86 14.33 ‐4.24

9.72 0.81 28.39 7.44 17.90 12.85

0.80 4.83 0.98 1.50 3.50 2.32

0.76 ‐0.02 ‐5.28 2.60 1.25 ‐0.14

0.64 32.57 0.01 0.39 0.74 6.87

8.21

BUY

1,315

‐38.62

40.92

3.45 20.12 19.45 12.81

SELL HOLD BUY

1,195 18,950 16,850

‐56.30 ‐28.99 ‐37.08 ‐40.25

29.51 34.99 29.98

10.65 15.34 15.72 14.05 10.25 40.06 12.33 16.91

35.74 19.01 31.60 23.89 22.00 48.81 21.58 28.95

39.20 2.74 5.19 7.18 3.10 7.94 2.98 9.76

2.71 2.04 2.01 1.70 1.22 1.22 1.75 1.81

0.26 0.54 0.10 1.12 0.89 0.45 0.31 0.52

99.40 13.63 20.60 31.00 16.61 21.50 15.80 31.22

BUY BUY HOLD HOLD BUY BUY HOLD

34,250 7,600 11,800 30,314 3,150 1,450 60,000

27.83 8.79 37.25 57.68 48.06 4.01 11.06 27.81

15.01 49.92 19.47 66.93 53.37 29.25 23.53


PBV FY14F


Rec

TP (Rp/share)



Mining ADRO IJ Equity BUMI IJ Equity HRUM IJ Equity ITMG IJ Equity PTBA IJ Equity Average Consumer UNVR IJ Equity INDF IJ Equity ICBP IJ Equity MYOR IJ Equity AISA IJ Equity ROTI IJ Equity GGRM IJ Equity Average

5,704,638,200,000 29,858,268,125,000 25,633,466,831,250

227,180,000,000,000 59,932,985,500,000 58,467,398,600,000 26,206,731,039,500 6,529,800,000,000 7,060,452,000,000 101,976,930,200,000

Market Capitalization Pharmaceutical KLBF IJ Equity KAEF IJ Equity Average

75,700,795,343,450 5,286,580,000,000

14.90 19.40 17.40

32.65 21.16 26.90

8.65 2.82 5.74

1.92 1.09 1.61

0.03 0.02 0.02

26.30 12.40 19.35

HOLD HOLD

1,885 1,450

29.77 ‐23.30 3.23

43.37 9.97

Retail RALS IJ Equity MAPI IJ Equity Average

8,272,480,000,000 17,420,000,000,000

9.32 20.10 14.71

28.32 26.60 66.82

3.10 4.26 3.68

3.04 5.24 4.14

0.00 0.91 0.46

12.29 13.20 14.85

HOLD HOLD

830 5,370

22.72 ‐3.62 9.55

40.46 44.00

Poultry CPIN IJ Equity JPFA IJ Equity MAIN IJ Equity Average

62,148,420,000,000 11,460,061,646,000 3,823,785,000,000

17.55 13.58 16.02 15.72

20.72 14.54 16.28 17.18

6.74 3.19 6.65 5.53

1.18 1.07 1.02 1.09

32.42 59.99 55.23 49.21

19.85 3.19 1.71 8.25

BUY BUY BUY

5,110 1,550 3,000

‐3.30 1.32 26.18 8.06

44.47 42.49 44.07

5


RESEARCH TEAM Research Division

: +62 21 25543946

Fax No

: +62 21 57935831

E‐mail

: [email protected]

Norico Gaman

ext. 3934 [email protected]

Head of Research

Investment Strategy

Andri Zakarias


Technical Analyst

Market Strategy, Commodities, Currency, Bond & Stocks

Heru Irvansyah


Economist

I Made Adi Saputra


Fixed Income Analyst

Thendra Crisnanda


Analyst

Automotive, Construction, Property

Yasmin Soulisa


Analyst

Cement, Infrastructure,

Coal Mining, Metal Mining, Plantation, Oil & Gas

Ankga Adiwirasta

ext. 3986 [email protected] Analyst

Consumer Goods, Pharmaceutical, Retail

Richard Jerry


Analyst

Banking, Telecommunication

Dessy Lapagu


Research Assistant

Poultry

Venia Allani Meissalina


Research Assistant

Thennesia Debora


Research Assistant

Indah Lestari


Research Assistant

Transportation

EQUITY TEAM

: +62 21 25543946

Fax No

: +62 21 57935831

CM

Norico Gaman


Equity Division Head (PJS)

Jufrani Amsal


Channel Distribution Division Head

Entis Sutisman


Head of Local Institution

Chandrawati


Head of HO Retail

Yulinda


Institutional Sales

6


MAIN OFFICE ‐ JAKARTA PT BNI SECURITIES Sudirman Plaza, Indofood Tower 16th Floor, Jl. Jend. Sudirman Kav. 76‐78 Jakarta 12910, Indonesia Phone: (62‐21) 25543946 (Hunting) Fax: (62‐21) 57935831 e‐mail: [email protected] (General) Website: http://www.bnisecurities.co.id JAKARTA – PT BNI Securities Sudirman Plaza Indofood Tower Lt.16 Jl. Jend. Sudirman Kav. 76‐78 Jakarta 12910 Phone: (62‐21) 25543946 Fax: (62‐21) 57935831 e‐mail: [email protected] JAKARTA ‐ Mangga Dua Pertokoan Mangga Dua Blok E4 No. 7 Jl. Mangga Dua Raya, Jakarta Utara Phone: (62‐21) 6123804‐5,62203890 Fax: (62‐21) 6123806 e‐mail: [email protected] JAKARTA ‐ Puri Indah Ruko Puri Kencana Blok K6 ‐ 2K Lt.2 Puri Kembangan, Jakarta Barat Phone: (62‐21) 58357464 Fax: (62‐21) 58357465 e‐mail: [email protected] JAKARTA ‐ Central Park Central Park, Office Tower Podomoro City Jl. Letjen S. Parman Kav 28, Tanjung Duren Selatan, Grogol Petamburan Phone: (62‐21) 29034215 Fax: (62‐21) 29034216 email: [email protected] BANDUNG Jl. Perintis Kemerdekaan 3 Bandung ‐ 40117 Phone: (62‐22) 4213375 Fax: (62‐22) 4220604 e‐mail: [email protected] YOGYAKARTA Jl. Laksda Adisucipto 137, Yogyakarta ‐ 55282 Phone: (62‐274) 581001‐584032 Fax: (62‐274) 584023 e‐mail: [email protected] SOLO Jl. Honggo Wongso No. 24, Surakarta Phone: (62‐271) 729667, 730525 Fax: (62‐271) 729668 e‐mail: [email protected] SURABAYA Jl. Gubernur Suryo No. 36, Surabaya Phone: (62‐31) 5320912 Fax: (62‐31) 5318425 e‐mail: [email protected]

MALANG Jl. Buring No. 58, Malang Phone: (62‐341) 321214,321213,321430 Fax: (62‐341) 356876 e‐mail: [email protected] DENPASAR Komplek Pertokoan Diponegoro Megah Blok A5‐6 Lantai 2 Jl. Diponegoro No. 100, Denpasar ‐ Bali Phone: (62‐361) 264376, 2753389 Fax: (62‐361) 229170 e‐mail: [email protected] MEDAN Jl. Pemuda No. 12, Medan ‐ 20151 Phone: (62‐61) 4579616 Fax: (62‐61) 4579656 e‐mail: [email protected] PALEMBANG Jl. Jend. Sudirman 132, Palembang ‐ 30126 Phone: (62‐711) 361969 Fax: (62‐711) 319663 e‐mail: [email protected] PEKANBARU Jl. Riau, No. 124, Lt. 2, Pekanbaru Phone: (62‐761) 46757, 839698 Fax: (62‐761) 856279 e‐mail: [email protected] MANADO BNI KLN Megamas, Lt. 3, Kawasan Mega Mas Blok I C1 Jl. Piere Tendean, No. 20, Manado Phone: (62‐431) 847256 Fax: (62‐24) 847256 e‐mail: [email protected] ACEH Kantor Cabang BNI Banda Aceh Lt.2 Jl. KH. Ahmad Dahlan No. 111, Banda Aceh Phone: (62‐651) 31109 Fax: (62‐651) 31107 BANJARMASIN Gd. Bank BNI Antasari Lt. 2 Jl. Pangeran Antasari No. 44 RT 008, Banjarmasin Phone: (62‐511) 3253735 Fax: (62‐651) 3253754 e‐mail: [email protected]

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7

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