Monday, October 24, 2011

Invest Indonesia Bank : CIMB Niaga (Price : Rp1280)

Updates from Analyst Meeting Presentation 3Q2011 :-
** Declared Rp200 bio interim dividend


IF, 4Q2011 able to deliver another EPS of Rp33, the annulised EPS will be Rp128.
With the annual earning growth rate of at least 25%, we may see 2012 to register EPS of Rp160. Therefore, the target of of Rp1920-Rp2400 is achievable based on 12X-15X PER when sentiment turn good. ( potential upside 50% - 87% )  

Year-end target price based on 12X PER = Rp1530 and 15X PER = Rp 1920 ( potential upside 20% to 50%).


Good Luck !


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