Weekly Strategic Selasa, 13 Desember 2016
Target 5,380.69 – 5,443.73
Widhi Indratmo Nugroho Analyst
[email protected] +62 21 5785 1818 (Ext.2051)
Beberapa berita ekonomi di pekan kemarin diantaranya: 1) Kementerian ESDM mengeluarkan Peraturan Menteri (Permen) No.40 tahun 2016 tentang harga gas untuk industri tertentu. Adapun mulai 1 Januari 2017, tiga industri yang mendapat perlakuan khusus dengan mendapat penurunan harga gas yaitu industri yang berbahan baku gas seperti industri petrokimia, industri
COMPOSITE LAST 5,308.13
Close
pupuk, dan industri baja. 2) Keputusan OPEC akan pengurangan produksi 1.2 juta barel per
Weekly Return
▲
1.19%
hari menjadi 32.5 juta barel per hari membuat potensi kenaikan harga minyak dunia yang
Yield to Date
▲
15.57% 21.26
PE (X)
otomatis membuat kenaikan harga minyak di dalam negeri. Hal ini membuat asumsi makro yang tercantum pada APBN 2017 menjadi tidak relevan karena salah satu asumsinya adalah
TOTAL TRANSACTION Volume (miliar)
▲
32.15
Value (Rp. triliun)
▲
23.99
harga minyak dalam negeri. Akibatnya penerimaan negara berpotensi menjadi lebih tinggi dari target semula. 3) Menurut Bank Indonesia, besaran cadangan devisa yang digunakan untuk menjaga kestabilan nilai tukar rupiah tidak besar sehingga posisinya masih aman. Di sisi lain
ECONOMIC INDICATORS 4.75%
BI 7-Day RR IDR/USD
13,337
Rp.
Sumber: Lautandhana Securindo
cadangan devisa masih berpeluang meningkat sampai dengan akhir tahun 2016 dari program repatriasi. Tercatatkan jumlah cadangan devisa November 2016 sebesar US$ 111.5 miliar, JCI vs Foreign Net Buy (Sell) YTD
turun US$ 3.5 miliar dari US$ 115 miliar di Oktober 2016 akibat pembayaran utang luar negeri dibanding penggunaan devisa untuk stabilitas nilai tukar. Jumlah cadangan devisa sampai
5,620
47,000
5,290
33,000
4,960
19,000
4,630
5,000
dengan November 2016 masih cukup untuk membiayai 8.5 bulan impor atau 8.1 bulan impor dan pembayaran utang luar negeri pemerintah. Di sisi lain pengurangan pajak yang menjadi rencana Presiden terpilih AS Donald Trump, membuat potensi negara tersebut menerbitkan obligasi pemerintah untuk pembiayaan pembagunan infrastruktur dimana menjadi salah satu rencana saat kampanye Trump. Hal ini berdampak pada kepastian The Fed untuk mulai menaikkan tingkat bunganya, yang tentunya membuat ruang pelonggaran tingkat bunga BI semakin kecil. Secara keseluruhan dalam sepekan terakhir IHSG berhasil menguat kembali
4,300
(9,000)
4-Jan-16
sebesar 1.19% atau 62.17 poin dan ditutup di level 5,308.13. Akumulasi minat jual asing juga
25-Apr-16
22-Aug-16
8-Dec-16
tercatatkan masih menyelimuti pergerakan indeks, dimana tercatatkan dalam sepekan sampai Composite (LHS)
dengan empat pekan terakhir masing masing sebesar Rp.2.27 triliun, Rp.5.48 triliun, Rp.8.20
Net Buy YTD in Rp.bn (RHS)
Sumber: Lautandhana Securindo
triliun, dan Rp.11.35 triliun. Dan tercatatkan penguatan nilai tukar rupiah terhadap dolar AS dalam sepekan terakhir dari Rp.13.524 menjadi Rp.13.337. WEEKLY RETURN 9-Dec-16
SECTOR
2-Dec-16
Setelah target di level 5,275.74 tercapai di pekan kemarin, IHSG masih berpeluang untuk
Agriculture
▲
1.14%
▲
1.48%
menguji level 5,380.69 – 5,443.73 sebagai target selanjutnya selama masih bertahan di atas
Basic Industry
▲
1.70%
▲
2.77%
Consumer Goods
▲
1.26%
▲
2.56%
Finance
▲
1.73%
▲
2.67%
dari beberapa saham yang telah jenuh beli (oversold) sehingga potensi penguatan mulai
Infrastructure
▲
1.50%
▲
2.32%
terbatas. Dan pergerakan IHSG dalam sepekan kedepan diperkirakan akan dikisaran 5,135.10
Manufacture
▲
1.09%
▲
2.60%
Mining
▲
0.16%
▲
1.90%
– 5,355.06 sebagai support dan resistance sementara. Beberapa saham yang saat ini
Misc. Industry
▼
-0.17%
▲
2.52%
underprice dan mendekati PE ratio terendah diantaranya AKRA, APLN, ASRI, BBCA, BBNI,
Property
▲
0.69%
▲
1.87%
Trade & Service
▲
0.78%
▲
2.21%
5,212. Namun dalam sepekan kedepan pergerakannya akan dibayangi oleh aksi profit taking
BBTN, CPIN, CTRS, DILD, INDF, KIJA, LPKR, LPPF, MNCN, SCMA, SMGR, SRIL, dan
Sumber: Lautandhana Securindo
SSMS. Sedangkan JSMR dan SILO saat ini termasuk saham saham underprice dan mendekati PE ratio terendah, namun masih diliputi oleh sentimen negatif terkait rencana right issue. Berita
WEEKLY CAPITAL FLOW
dan mobil November, ekspor dan impor November, dan keputusan tingkat bunga Desember. Sedangkan berita ekonomi global di pekan ini diantaranya Treasury Budget, Import and Export Prices, Producer Price Index – Final Demand, Retail Sales, Industrial Production, Business Inventories, EIA Petroleum Status Report, FOMC Meeting Announcement, FOMC Forecasts, Fed Chair Press Conference, Consumer Price Index, Jobless Claims, Philadelphia Fed Business Outlook Survey, Empire State Mfg Survey, Housing Market Index, Treasury International Capital, dan Housing Starts.
9-Dec-16
SECTOR
ekonomi domestik di pekan ini diantaranya neraca perdagangan November, penjualan motor
2-Dec-16
Agriculture
▲
14.40%
▲
17.49%
Basic Industry
▲
4.87%
▲
0.55%
Consumer Goods
▲
2.74%
▲
1.23%
Finance
▲
17.44%
▲
4.43%
Infrastructure
▲
7.29%
▲
5.91%
Manufacture
▲
20.86%
▼
-0.82%
Mining
▲
6.97%
▲
33.69%
Misc. Industry
▲
0.50%
▼
-1.49%
Property
▼
-10.61%
▲
29.31%
Trade & Service
▲
14.33%
▲
5.08%
Sumber: Lautandhana Securindo
Please refer to important disclosures at the end of this report
1
Weekly Strategic
Selasa, 13 Desember 2016
PE Band IHSG 8,000 Closing 9 Desember 2016
7,000
Saat ini IHSG berada pada PE ratio 21.26x.
25.8x
6,000
22.03x
5,000 18 . 2 5 x 4,000
14 . 4 8 x
3,000
10 . 7 x
2,000 1,000 Dec- 03
Jun-05
Nov-06
Apr -08
Oct - 09
Mar - 11
Aug- 12
Jan- 14
Jun-15
Dec-16
Sumber: Lautandhana Securindo
Sector Performance 2016 9,000 Closing 9 Desember 2016
Selama 2016 beberapa Mining
sector yang outperformance terhadap IHSG diantaranya:
7,500
sektor mining, basic industry, misc.industry, Basic Ind
manufacture, dan consumer.
6,000
Misc Ind Manuf ac Consumer
4,500
JCI 3,000 Jan- 16
Feb- 16
Apr - 16
Jun-16
Aug-16
Sep- 16
Nov- 16
Dec- 16
Note: All Sectors Rebase to JCI Sumber: Lautandhana Securindo
Siklus Pergerakan Harian IHSG 6,000
1.73 1.60
J CI 5,000
Saat ini siklus IHSG berada
1.47
Cy cle
Sell on Strength
Closing 9 Desember 2016
1.34
4,000
1.21 +1STDEV
dikisaran average. Trading Area
3,000
1.08
Average
0.95 - 1STDEV 2,000
0.82
Buy on Weakness
0.69
Krisis Global 2008
1,000
Bottom Fishing
0.56 Jan- 03
0.43 Jul-04
Feb-06
Aug-07
Mar -09
Oct - 10
Apr - 12
Nov- 13
May- 15
Dec- 16
Sumber: Lautandhana Securindo
2
Weekly Strategic
Selasa, 13 Desember 2016
Siklus Pergerakan Harian Beberapa Saham LQ45 & Lainnya Cycle
-1 STDEV
Average
+1 STDEV
Area
TP
Upside
Cycle
-1 STDEV
Average
+1 STDEV
Area
TP
Upside
AALI
Stock
1.11
0.87
1.04
1.22
Trading
17,584
0.8%
MPPA
Stock
1.02
0.90
1.16
1.42
Trading
1,924
13.2%
ADHI
0.86
0.83
1.18
1.52
Trading
2,595
19.0%
MYRX
1.07
0.90
1.16
1.42
Trading
171
-
ADRO
1.60
0.83
1.04
1.25
SoS
1,798
7.0%
PGAS
1.07
0.92
1.08
1.23
Trading
3,054
7.5%
AKRA
0.96
0.92
1.13
1.34
Trading
7,350
14.8%
PTBA
1.41
0.83
1.03
1.23
SoS
13,881
9.3%
ANTM
1.32
0.77
0.98
1.19
SoS
816
-13.6%
PTPP
1.00
0.85
1.13
1.41
Trading
5,110
28.7%
ASII
1.04
0.90
1.12
1.34
Trading
1.37
Trading
PW ON
1.08
0.87
1.12
ASRI
0.90
0.85
1.15
1.44
Trading
450
15.5%
SCMA
0.85
0.91
1.25
1.60
BoW
3,285
29.3%
BBCA
1.04
1.00
1.10
1.21
Trading
16,381
8,679
11.4%
10.9%
SILO
1.05
1.14
1.25
1.37
BoW
11,665
733
13.8%
13.6%
BBNI
1.05
0.90
1.14
1.38
Trading
6,356
16.1%
SMGR
0.95
0.96
1.11
1.26
BoW
10,519
13.1%
BBRI
1.02
0.98
1.11
1.24
Trading
13,022
13.5%
SMRA
0.90
0.91
1.18
1.45
BoW
1,744
17.8%
BBTN
0.96
0.82
0.97
1.13
Trading
2,188
26.5%
SRIL
0.91
-9.21
3.52
16.24
Trading
295
22.9%
BMRI
1.07
0.93
1.11
1.30
Trading
11,106
1.2%
SSMS
0.80
1.00
1.12
1.24
BoW
2,050
48.6%
BMTR
0.62
0.85
1.14
1.42
BoW
1,440
144.1%
TLKM
1.02
0.95
1.05
1.15
Trading
4,732
19.5%
BSDE
0.92
0.73
1.18
1.64
Trading
2,381
31.2%
UNTR
1.33
0.84
1.08
1.33
SoS
24,011
5.3%
CPIN
0.88
0.82
1.28
1.73
Trading
3,820
20.9%
UNVR
0.94
0.98
1.10
1.23
BoW
44,665
7.8%
ELSA
0.99
1.09
1.39
0.79
BoW
460
0.0%
WIKA
0.92
0.95
1.18
1.41
BoW
3,016
20.2%
WSKT
1.05
0.87
1.12
1.37
Trading
3,339
29.9%
GGRM
1.01
0.89
1.18
1.48
Trading
77,171
15.3%
HMSP
0.10
0.97
1.15
1.32
BoW
4,272
7.3%
BoW
OTHERS
ICBP
0.70
0.96
1.10
1.23
10,267
16.0%
INCO
1.42
0.80
1.02
1.24
SoS
2,564
-22.5%
CTRA
0.98
0.89
1.15
1.40
Trading
1,669
18.0%
INDF
1.05
0.86
1.11
1.37
Trading
9,990
24.1%
CTRP
1.24
0.82
1.10
1.38
Trading
500
-30.1%
INTP
0.92
0.91
1.12
1.32
Trading
16,366
0.7%
CTRS
1.12
0.87
1.16
1.45
Trading
4,059
46.5%
JSMR
0.86
0.96
1.14
1.31
BoW
5,771
32.4%
KIJA
0.99
0.84
1.10
1.35
Trading
438
57.4%
KLBF
1.03
1.00
1.20
1.39
Trading
1,736
10.2%
SMCB
0.92
0.85
1.10
1.35
Trading
912
-6.0%
LPKR
0.74
0.87
1.04
1.20
BoW
1,051
39.2%
GIAA
0.86
0.85
1.01
1.16
Trading
394
4.9%
LPPF
0.84
0.02
1.54
3.07
Trading
20,866
35.5%
KAEF
1.60
0.90
1.18
1.47
SoS
1,788
-35.5%
LSIP
1.13
0.82
1.07
1.32
Trading
1,757
0.4%
SMBR
2.41
0.94
1.01
1.08
SoS
810
-69.5%
MNCN
0.88
0.86
1.18
1.50
Trading
2,414
33.4%
TINS
1.51
0.79
1.01
1.23
SoS
848
-31.6%
Note: 1. TP (Target Price) Konsensus Bloomberg 2. Cycle: Posisi harga close saham di minggu terakhir 3. Posisi Cycle yang berada dibawah (-1) standard deviation, diperkirakan mempunyai ruang koreksi yang mulai terbatas
Sumber: Lautandhana Securindo
Pemilihan Saham Passive Strategy Expected Return 77%
Beberapa saham yang berada di atas fairly price line (security market line) mencerminkan kondisi under price. Investor dapat melakukan posisi beli maupun menambah proporsi (overweight) pada saham ini.
Under Price Area (Positive Alpha)
SSMS
CTRS
47%
LPKR
Sedangkan beberapa saham yang berada di bawah fairly price line mencerminkan kondisi over price. Investor dapat melakukan posisi jual atau mengurangi proporsi (underweight) pada saham ini.
Update 9 Desember 2016
KIJA
WSKT
17%
LPPF
BBTN
MNCN
SCMA
PTPP TLKM
AKRA SILO
LSIP SMCB -13%
JSMR
BSDE INDF WIKA SRIL SMRA ADHIBBNI ASRI CTRA GGRM ICBP BBRI KLBFPTBASMGR BBCA PGAS PWON ASII MPPA
DILD
CPIN
Fairly Price Line
ADRO UNVR UNTR INTP ELSA BMRI
AALI
BJTM INCO CTRP TINS KAEF
BJBR
Over Price Area (Negative Alpha)
-43% 0. 4
1. 2
2. 0
Sensitivity to Market Sumber: Lautandhana Securindo
3
Weekly Strategic
Selasa, 13 Desember 2016
Saham Underprice dan mendekati PE ratio terendah AKRA PE Band
APLN PE Band
8,800 35.4x
31.35x
700
13x
27.3x
10.57x
23.25x
550
8.13x
400
5.69x
6,800
18.6x
4,800 250 3.25x
2,800 Dec-11
Dec-12
Dec-13
Dec-14
Dec-15
Dec-16
100 Dec-11
Dec-12
Sumber: Lautandhana Securindo
Sumber: Lautandhana Securindo
ASRI PE Band
BBCA PE Band
Dec-13
Dec-14
Dec-15
Dec-16
1,250 22.85x 20.89x
18,000
20.4x
18.93x
17.15x
16.97x
1,000 13.9x
15,000
15x
750
12,000
10.65x
9,000
500
250 Dec-11
6,000 Dec-11
Dec-12
Dec-13
Dec-14
Dec-15
Dec-12
Dec-13
Dec-14
Dec-15
Dec-16
Dec-16
Sumber: Lautandhana Securindo
Sumber: Lautandhana Securindo
BBNI PE Band
BBTN PE Band 2,500
8,500 13.4x
16.9x
11.93x
14.09x
10.45x 11.28x
2,000 8.98x
6,500
7.5x
1,500
8.47x
1,000
5.65x
4,500
2,500 Dec-11
Dec-12
Dec-13
Dec-14
Dec-15
Dec-16
500 Dec-10
Dec-11
Sumber: Lautandhana Securindo
Sumber: Lautandhana Securindo
CPIN PE Band
CTRS PE Band
6,000 38x
31.63x
Dec-12
Dec-13
Dec-14
Dec-15
4,000 23.3x
18.9x
14.5x
25.25x
10.1x
3,150
4,750
Dec-16
5.7x
18.88x
2,300
3,500
5.7x 12.5x
1,450
2,250
1,000 Dec-11
Dec-12
Sumber: Lautandhana Securindo
Dec-13
Dec-14
Dec-15
Dec-16
600 Dec-11
Dec-12
Dec-13
Dec-14
Dec-15
Dec-16
Sumber: Lautandhana Securindo
4
Weekly Strategic
Selasa, 13 Desember 2016
DILD PE Band
INDF PE Band 19.65x
900 29.8x
9,400
32.2x
27.2x
22.2x
17.2x
24.73x
14.58x
700
7,950
12.2x
12.2x 6,500
500
9.5x
300
100 Dec-11
5,050
Dec-12
Dec-13
Dec-14
Dec-15
Dec-16
Sumber: Lautandhana Securindo
3,600 Dec-11
Dec-12
Dec-13
Dec-14
Dec-15
Dec-16
Sumber: Lautandhana Securindo
KIJA PE Band
LPKR PE Band
750
38.64x
23.52x
2,000
15.96x
1,600
48x
38.22x 28.43x
575
18.64x 400
1,200 8.4x
225
800 8.85x
50 Dec-10
Dec-11
Dec-12
Dec-13
Jan-15
Jan-16
Dec-16
400 Dec-11
Dec-12
Sumber: Lautandhana Securindo
Sumber: Lautandhana Securindo
LPPF PE Band
MNCN PE Band
Dec-13
Dec-14
Dec-15
4,000
22,000 38.6x
32.5x
26.4x
Dec-16
30.1x
25.28x
20.3x
20.45x 19,000
3,250
16,000
2,500
15.63x
14.2x 13,000
10,000 Dec-13
1,750
Jul-14
Dec-14
Jun-15
Dec-15
Jun-16
Dec-16
Sumber: Lautandhana Securindo
1,000 Dec-11
Dec-12
Dec-13
Dec-14
Dec-15
Dec-16
Sumber: Lautandhana Securindo
SCMA PE Band
SMGR PE Band 29.6x
4,300
36.35x
20,000 22.6x
43.1x
16,500
3,725
19.13x
22.85x
3,150
13,000
2,575
9,500
15.65x
12.18x
8.7x 2,000 Dec-13
Jul-14
Sumber: Lautandhana Securindo
Dec-14
Jun-15
Dec-15
Jun-16
Dec-16
6,000 Dec-11
Dec-12
Dec-13
Dec-14
Dec-15
Dec-16
Sumber: Lautandhana Securindo
5
Weekly Strategic
Selasa, 13 Desember 2016
SRIL PE Band
SSMS PE Band 34.8x
550
2,800
14.2x 11.75x
28.33x
9.3x 425
2,200 21.85x
6.85x 300
1,600 15.38x
4.4x 175
1,000 8.9x
50 Dec-13
Jul-14
Sumber: Lautandhana Securindo
Dec-14
Jun-15
Dec-15
Jun-16
Dec-16
400 Dec-13
Jul-14
Dec-14
Jun-15
Dec-15
Jun-16
Dec-16
Sumber: Lautandhana Securindo
6
Weekly Strategic
Selasa, 13 Desember 2016
Emiten
Ticker
Close
Weekly Indicator Support
Resistance
Beta
Volatility
YTD
Performance
Weekly Forecast Bearish
Bullish
17,725
AGRICULTURE Plantation & Others Astra Ago Lestari Tbk
AALI
17,300
16,350
17,475
0.88
5.75%
9.15%
Underweight
16,800
PP London Sumatra Tbk
LSIP
1,800
1,710
1,840
0.68
5.26%
36.36%
Underweight
1,760
1,835
Sawit Sumbermas Sarana Tbk
SSMS
1,375
1,300
1,385
0.86
5.44%
-29.49%
Overweight
1,335
1,410
Charoen Pokphand Indonesia Tbk
CPIN
3,130
3,090
3,320
1.42
5.79%
20.38%
Overweight
2,980
3,260
MINING Coal, Oil & Gas, Metal & Other Resources Adaro Energy Tbk ADRO Tambang Batu Bara Bukit Asam Tbk PTBA Elnusa Tbk ELSA Aneka Tambang (Persero) Tbk ANTM Vale Indonesia Tbk INCO
1,665 12,300 464 965 3,380
1,530 11,325 400 940 3,330
1,700 12,575 484 1,005 3,630
1.69 1.35 1.24 0.83 0.97
7.28% 6.34% 7.81% 6.80% 7.77%
223.30% 171.82% 87.85% 207.32% 106.73%
Overweight Overweight Underweight Underweight Underweight
1,570 11,750 444 935 3,270
1,745 12,775 480 985 3,470
BASIC INDUSTRY Cement & Others Indocement Tunggal Perkasa Tbk. Semen Gresik Tbk
INTP SMGR
15,575 9,250
14,625 8,225
16,425 9,300
1.55 1.42
4.76% 4.83%
-30.24% -18.86%
Underweight Overweight
14,775 8,800
16,275 9,625
MISC.INDUSTRY Otomotif Astra International Tbk Sri Rejeki Isman Tbk
ASII SRIL
7,850 238
7,550 236
7,975 246
1.41 0.81
4.75% 7.43%
30.83% -38.82%
Overweight Overweight
7,475 232
8,175 244
8,750 7,450 42,400 66,325 3,880 1,540
8,150 7,225 39,800 62,600 3,790 1,385
8,825 7,725 42,400 66,425 3,910 1,590
1.01 1.07 0.98 0.80 0.67 1.13
5.80% 3.99% 3.33% 4.10% 9.09% 3.83%
-35.06% 43.96% 14.59% 20.59% -95.87% 16.67%
Overweight Overweight Underweight Overweight Overweight Overweight
8,450 7,175 41,025 64,575 3,790 1,480
9,000 7,675 43,600 67,875 3,950 1,590
378 1,810 765 675 1,425 1,895 3,910 2,450 2,510
362 1,680 755 650 1,340 1,830 3,870 2,330 2,260
386 1,815 790 710 1,435 1,930 4,250 2,470 2,570
1.52 1.47 1.28 1.54 1.56 1.20 0.87 1.21 0.90
5.79% 4.76% 5.41% 5.35% 6.09% 5.29% 4.07% 4.92% 4.07%
10.20% 0.56% -26.09% 36.09% -13.64% -11.45% 0.90% -7.20% 50.30%
Overweight Overweight Overweight Overweight Overweight Overweight Overweight Overweight Overweight
358 1,720 730 640 1,350 1,820 3,800 2,350 2,430
394 1,885 790 705 1,490 1,960 4,000 2,530 2,570
1.14 1.05 0.95
5.10% 3.77% 2.91%
-1.28% -18.47% 25.93%
Overweight Overweight Overweight
2,600 4,110 3,780
2,800 4,390 4,010
CONSUMER GOODS Foods, Cigarette, Pharmacy & Others Indofood CBP Sukses Makmur Tbk ICBP Indofood Sukses Makmur Tbk INDF Unilever Indonesia Tbk UNVR Gudang Garam Tbk. GGRM Hanjaya Mandala Sampoerna Tbk HMSP Kalbe Farma Tbk KLBF PROPERTY & CONSTRUCTION Alam Sutera Realty Tbk Bumi Serpong Damai Tbk Lippo Karawaci Tbk Pakuwon Jati Tbk Summarecon Agung Tbk Adhi Karya (Persero) Tbk PP (Persero) Tbk Wijaya Karya (Persero) Tbk Waskita Karya (Persero) Tbk INFRASTRUCTURE Energy, Transportation & Highway, Perusahaan Gas Negara (Persero) Tbk Jasa Marga Tbk Telekomunikasi Indonesia Tbk
ASRI BSDE LPKR PWON SMRA ADHI PTPP WIKA WSKT
Telecommunication, Non Building Construction PGAS 2,710 2,570 2,730 JSMR 4,260 3,900 4,280 TLKM 3,910 3,770 3,960
FINANCE Bank Bank Central Asia Tbk Bank Negara Indonesia Bank Rakyat Indonesia (Persero) Tbk Bank Tabungan Negara (Persero) Tbk Bank Mandiri (Persero) Tbk
BBCA BBNI BBRI BBTN BMRI
14,675 5,300 11,300 1,670 10,700
14,125 5,025 10,425 1,590 10,025
15,125 5,350 11,375 1,680 10,775
1.14 1.45 1.50 0.91 1.45
3.04% 4.43% 4.32% 4.24% 3.95%
10.34% 6.21% -1.09% 28.96% 15.68%
Overweight Overweight Overweight Overweight Underweight
14,125 5,025 10,725 1,620 10,175
15,150 5,525 11,775 1,710 11,150
TRADE & SERVICE Investment Company & Wholesale AKR Corporindo Tbk United Tractors Tbk Matahari Departement Store Tbk Matahari Putra Prima Tbk Media Nusantara Citra Tbk Surya Citra Media Tbk Global Mediacom Tbk Hanson International Tbk Siloam International Hospitals Tbk
AKRA UNTR LPPF MPPA MNCN SCMA BMTR MYRX SILO
6,450 22,975 14,950 1,715 1,735 2,580 620 173 10,750
6,300 21,000 14,025 1,700 1,645 2,280 585 134 10,175
6,775 23,000 15,000 1,760 1,765 2,590 640 173 10,900
0.56 1.18 1.05 1.48 1.22 1.21 1.46 0.71 0.57
4.21% 5.00% 4.32% 6.47% 6.27% 4.50% 6.70% 7.88% 4.64%
-10.10% 35.55% -15.06% -6.03% -6.47% -16.77% -43.64% -72.76% 9.69%
Overweight Underweight Overweight Overweight Overweight Overweight Overweight Overweight Overweight
6,325 22,075 14,425 1,630 1,665 2,470 590 169 10,550
6,550 23,775 15,400 1,785 1,795 2,670 645 177 10,925
Sumber: Lautandhana Securindo
7
Weekly Strategic
Selasa, 13 Desember 2016
PT Lautandhana Securindo Wisma Keia 15th floor Jl. Jendral Sudirman Kav. 3 Jakarta 10220 T +62 21 5785 1818 F +62 21 5785 1637
EQUITY DIVISION Jakarta Branch Kawasan SCBD Pluit Blok A No.20 Jl. Pluit Selatan Raya No. 1 Jakarta 14450 T +62 21 6667 5345 F +62 21 6667 5234
Banten Branch Karawaci Office Park Blok L No.29 – 30 Lippo Karawaci, Tanggerang Banten 15115 T +62 21 5577 0718 F +62 21 5577 0719
Mangga Dua Square Blok F No.23 Jl. Gunung Sahari Raya No.1 Jakarta 14420 T +62 21 6231 3288 F +62 21 6231 1365
Ruko Paramount Centre Blok A No.2 Jl. Raya Kelapa Dua, Gading Serpong, Tanggerang Banten 15810 T +62 21 2901 4800 / 2901 4731 F +62 21 2901 4656
Sentra Bisnis Artha Gading Jl. Boulevard Artha Gading Blok A6B Kav.7 Kelapa Gading Barat Jakarta 14240 T +62 21 5790 5893 F +62 21 5785 1639
Palembang Branch Jl. Jendral Soedirman No.149/7 Ruko Hotel Anugrah Palembang 30116 T +62 711 365 530 F +62 711 368 234
Bandung Branch Komplek Paskal Hypersquare Blok C No. 15, Kebon Jeruk Bandung 40181 T +62 22 8606 1027 – 9 F +62 22 8606 0684
Medan Branch Jl. Kartini No.5 Medan 20152 T +62 61 451 8855 F +62 61 451 6836
Kampus STMIK-STIE MIKROSKIL Jln. Thamrin No.140
Surabaya Branch Jl. Diponegoro 48D-E Surabaya 60264 T +62 31 562 2555 F +62 31 567 1398
DISCLAMER
This report has been prepared by PT. Lautandhana Securindo on behalf of itself and its affiliated companies and is provided for information purposes only. Under no circumstances is it to be used or considered as an offer to sell, or a solicitation of any offer to buy. This report has been produced independently and the forecasts, opinions and expectations contained herein are entirely those of PT. Lautandhana Securindo. While all reasonable care has been taken to ensure that information contained herein is not untrue or misleading at the time of publication, PT. Lautandhana Securindo makes no representation as to its accuracy or completeness and it should not be relied upon as such. This report is provided solely for the information of clients of PT. Lautandhana Securindo who are expected to make their own investment decisions without reliance on this report. Neither PT. Lautandhana Securindo nor any officer or employee of PT. Lautandhana Securindo accept any liability whatsoever for any direct or consequential loss arising from any use of this report or its contents. PT. Lautandhana Securindo and/or person connected with it may have acted upon or used the information herein contained, or the research or analysis on which it is based, before publication.
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