Forecasts and recommendations of analysts of IFH RESMI (Kazakhstan) for December 9, 2010
09.12.10 17:16
/IRBIS, December 9, 2010/ - Finance & Investment House RESMI
JSC (Almaty, IFH RESMI) provided IRBIS overview of major events
and their investment ideas and projections for December 9, 2010.
Analysts of IFH RESMI give attention to the following to the
important events in the markets:
- Goldcorp acquired Andean Resources - Consolidation in the
gold mining industry. The Canadian company Goldcorp (G CN),
the second-capitalization in the world after Barrick Gold (ABX CN),
acquired 100% Andean Recources (AND AU), who own gold
deposits of Cerro Negro, in the province of Santa Cruz in
Argentina. Goldcorp acquired the Andean Recources for C $ 3.6
billion, which was paid in cash or shares, at a price of C $ 6.5 per
share Andean Resources. Analysts of IFD "RESMI" believe that
this transaction is characterized by the fact that with the increase in
gold prices, large companies are interested in companies with hard
assets being developed, which are becoming more attractive with
rising gold prices. IFD "RESMI" implies rapid growth M & A deals in
this sector in 2011.
Analysts of IFH RESMI give the following advice for investors in
securities of issuers in Kazakhstan:
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Issuer Last price Predicted price* Up/down from Target RSI.
Current price price** %***
------------------ ---------- ---------------- ------------- ------- -----
Kazkommertsbak 420 796 89.5% n/a 44.64
Halyk bank 365 409 12.1% 474 58.45
Bank Center Credit 590 1,218 106.4% 1,007 53.37
RD KMG 17,700 24,895 40.6% 22,477 64.82
Kazkhtelekom 17,400 24,398 40.2% 27,611 71.10
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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.
[2010-12-09]