Forecasts and recommendations of analysts of IFH RESMI (Kazakhstan) for April 23, 2010

/IRBIS, April 23, 2010/ - Finance & Investment House RESMI JSC (Almaty, IFH RESMI) provided IRBIS overview of major events and their investment ideas and projections for April 23, 2010. Analysts of IFH RESMI are paying attention to investors on the following important events in the markets now: - Successful arrangement of Russian Eurobonds. Yesterday, we have posted that sovereign Eurobonds of the Russian Federation, the borrowed funds from which will be used to cover the budget deficit in 2010. Accommodation passed much more successful than predicted analysts. The demand for Eurobonds is many times higher than supply and the yield was much lower than most forecasts. According to sources, the book applications for RF Eurobonds closed with substantial oversubscription, the total applications - $25 billion in Eurobonds were placed at a cost below par. At the same coupon rate on a 5-year tranche of a $2 billion was 3.625% and 10-year-old volume of $3.5 billion - 5%. Limit of Eurobonds for the current year is set at $17.8 billion analysts IFD "RESMI" believe that this event is a positive impact on the Russian corporate sector, as low yields on sovereign bonds would result in lowering yields on Eurobonds corporate sector. - Macarthur Coal Ltd (MCC AU) gave its consent to Peabody Energy (BTU US) to conduct due diligence process until May 3. Remind you, that Peabody Energy offered $3.78 billion for the Australian company. - UAL Corp (UAUA US) - the parent company of flag carrier United Airlines with Continental Airlines (CAL US), wants to merge the two companies to create a company with a market value of approximately $ 6.6 billion 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 621 796 28.2% 609 43.95 Halyk bank 355 409 15.2% 427 39.14 Bank Center Credit 710 1,218 71.5% 954 40.13 ENRC 2,750 On review 2,935 61.48 Kazakhmys 3,330 On review 3,666 47.33 RD KMG 22,100 24,895 12.6% 25,578 54.04 Kazkhtelekom 16,500 33,842 105.1% 18,344 34.91 -------------------------------------------------------------------------- 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 common shares Kazkommertsbank assessment IFD "RESMI" will cost no less than KZT796 per share by the end of 2010; - Halyk Savings Bank of Kazakhstan is estimated IFD "RESMI" as the most promising in terms of business development financial institution in Kazakhstan. Analysts see the growth of the bank's shares up to KZT409 per share; - Shares of Bank CenterCredit in the long term analysts IFD "RESMI" about the outlook for growth in securities of the bank to the level of 1,230 m.; - Stocks of Kazakhtelecom are looking most attractive for investment in the long term. Analysts IFD "RESMI" recommend buying simple shareholders of the issuer. - The updated target price of shares of JSC Exploration Production KMG is KZT24,895 per share. 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. [2010-04-23]