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

/IRBIS, November 23, 2010/ - Finance & Investment House RESMI JSC (Almaty, IFH RESMI) provided IRBIS overview of major events and their investment ideas and projections for November 23, 2010. Analysts of IFH RESMI give attention to the following to the important events in the markets: - Results of the Hewlett-Packard (HPQ US) exceeded expectations. Yesterday after the close of trading on stock exchanges in the U.S. Hewlett-Packard Company today announced results for the 4 square meters in 2010. According to the announcement, the company's profit amounted to US $ 2.5 billion or US $ 1.10 per share against US $ 2.4 billion, or US $ 0.99 per share for the same period last year. HP revenue totaled US $ 33.3 billion in expected revenues of US $ 32.7 billion and US$1.27 per share. The company reaffirmed its stability despite the fierce competition and changing the head of the company. After the announcement of the results share prices were fixed up and added about 3%. Today will discuss the results of HP with analysts, which expected performance of the CEO Mr. Leo Apotakera. - Australian REIT Westfield Group (WDC AU) has sold its stake (50%) in the London project Statford City Development Canadian and Danish pension fund for 1.4 billion U.S. dollars. The share of each company's buyers in the project now stands at 25%. Most likely, the reason for the sale was the company's desire to attract money for listing your REIT - Westfield Retail Trust. APG Algemene Pensioen Groep NV - Danish pension fund. Manager of Europe's largest pension schemes. Canada Pension Plan Investment Board - Canadian pension fund. The main directions of investment fund are government bonds and securities linked to inflation. Westfield Group (WDC AU) - the largest REIT in Australia, specializing in commercial real estate. Statford City Development - the largest project in Europe multifunctional complex. Statford City includes retail space (269,000 sq ft), hotel (613 000 sq m) and 16 400 houses. About 75% of the areas already leased. Trading part of the complex will consist of 300 stores, including the UK's largest distributor of fashionable clothes Marks&Spencer Group Plc and a network of department stores John Lewis. Developer of the project is the Westfield Group. Part of the proceeds from the transaction, 238.5 million U.S. dollars have been reinvested in other current projects Westfield Group. The company's shares (WDC AU) rose after the sale at 2.79%. It is expected that the sale of shares in Statford City Development negligible impact on operating profit of the company. Expected increase in operating profit per share to 74.6 cents; Gearing decreased by 2%, the ability to service debt will rise to 0.3 times; ROI will increase. 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 450 796 76.9% n/a 57.12 Halyk bank 367 409 11.4% 408 62.62 Bank Center Credit 590 1,218 106.4% 1,007 54.03 RD KMG 17,875 24,895 39.3% 22,458 73.49 Kazkhtelekom 17,200 33,842 96.8% 27,611 71.95 -------------------------------------------------------------------------- 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. [2010-11-23]