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Report Publish : March 02, 2010
Reasons for report : Company update
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United Tractors Tbk
(BUY Rp17,150)
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Tittle : FY09 : Strong Operating, Inline Net Profit
Analyst : Stanley Tjiandra |
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- Maintain our BUY rating with TP of Rp22,000.
- FY09 profit saved by margin rise, FX gain and net interest expense plunge.
- Better-than-expected FY09 performance, but with several notes.
- Maintain earning forecasts and TP as upside risk is immaterial.
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