Forecasts and recommendations of analysts of IFH "RESMI" (Kazakhstan) for December 10, 2009

10.12.09 20:13
/IRBIS, December 10, 09/ - Finance & Investment House "RESMI" JSC (Almaty, IFH "RESMI") provided by IRBIS overview of major events and their investment ideas and projections for December 10, 2009. Analysts now paying attention to the following investors' significant event: on November 30, 2009 Kazakhtelecom JSC (Company) pay off a syndicated loan of $ 350 million, organized by "Citibank NA" (London) in July 2007, which was intended to refinance short-term loans contracted for the purchase of subsidiaries MTS LLP, Nursat JSC and Altel JSC, as well as to finance investment activities of subsidiaries (www.telecom.kz ). Early repayment of the loan leads analysts IFD "RESMI" to the assumption that the company went to such measures in order to satisfy the obligations of LLP "MTS" and forcing its sale. Payments of the loan companies have a positive impact on its financial condition, and the sales of shares in the LLP "MTS" significantly improve the profitability of the Company since TOO MTS annual yield losses. Moreover, analysts IFD "RESMI" suggest that the MTS has already found a buyer and early repayment of debt MTS was one of the conditions of purchase. It is expected that this event a positive impact on the price of shares of Kazakhtelecom. More given in today's Flash report of Kazakhtelecom from IFH "RESMI". Analysts of IFH "RESMI" give the following advice for investors in securities of issuers in Kazakhstan: -------------------------------------------------------------------------- Issuer Last price Predicted price* Up/down from Target RSI, Current price price** %*** ------------------ ---------- ---------------- ------------- ------- ----- Kazkommertsbak 653 912 +39.7,% 1,096 59.87 Halyk bank 319 On review 1,118 63.78 Bank Center Credit 785 1,218 +55.2,% 849 48.45 ENRC 2,070 On review 2,595 47.11 Kazakhmys 3,000 On review 3,478 56.21 RD KMG 21,600 On review 5,011 49.32 Kazkhtelekom 18,990 33,842 +78.2,% 21,700 49.74 -------------------------------------------------------------------------- Fundamental evaluation IFH "RESMI" for 12 months (weekly review) ** Target according to the consensus forecast of analysts surveyed by Bloomberg *** Relative strength index - an indicator of technical analysis. determines strength of trend and likelihood of change. Overbought / oversold - when RSI indicator value is closer to 100% / 0% - Cost of ordinary shares of Kazkommertsbank assessment IFH "RESMI" will cost no less than KTZ 912 per share. Current levels are the same (P / E and P / BV) show the "overheated" market and in the short term correction; - Shares of Bank CenterCredit after the expected correction already look attractive for investment - in the long term, analysts IFD "RESMI "about the outlook for growth in bank securities to a level 1,230 m.; - Shares of Kazakhtelecom look the most attractive for investment in the long term. Analysts of IFH "RESMI" believe that the potential for growth compared with the current price of 78.2% and recommend buying simple shareholders of the issuer. The given material has exclusively information character and is not the offer or recommendation to make any transactions with the stocks. Agency Irbis doesn't take responsibility for the opinions which are in given material. [2009-12-10]