Review of key events and forecasts from ASYL INVEST JCS (Kazakhstan) analysts for January 23, 2012
23.01.12 15:15
/IRBIS, January 23, 2012/ - ASYL INVEST JCS (Almaty)
provided IRBIS with the review of main events and its investment
ideas and forecasts for January 23, 2012.
Analysts of ASYL INVEST JCS note the following tendencies
on Kazakhstani and world markets:
- Major Asian markets today are resting, except for Japan and
Australia. The latter show mixed dynamics in response to
lower prices for oil and industrial metals. Pressure on the
market has uncertainty regarding the restructuring of
Greece, the process is not yet complete. In addition,
investors are cautious before today's meeting of finance
ministers of the eurozone on the introduction of new budget
rules within the Union. Japan's Nikkei is gaining only 0.1%,
while the Australian ASX Index decreased by 0.3%. Futures
on U.S. indices today reduce 0.3%.
- Commodity markets today show weak trend. WTI and
European Brent crude went down by 0.3%. Copper is traded
in New York in the negative zone even after strong data on
imports of the metal in China in December. In December,
imports of copper rose by 78% compared to last year, an
increase of the seventh month in a row. Gold adds 0.5%
today.
- The euro/dollar today is reduced by 0.25-0.3% before
today's meeting of finance ministers of the eurozone. The
course is trading at around 1.289.
- Today is a day to be skimpy on corporate reporting and
macrostatistics. In the USA today s known oilfield services
company Halliburton, and after closing - major transportation
company CSX Corp are reporting.
- Analysts of "ASYL INVEST" have revised their expectations
on the effect of the sale of stake by Kazakhtelecom LLP in
"GSM Kazakhstan". Analysts of "ASYL INVEST" consider
the distribution of net profits from the sale of shares in the
form of dividends for 2012, amounting to 13,773 tenge per
ordinary and preference shares, likely. In addition, the "ASYL
INVEST" expects growth in the fundamental value of
common shares as a result of doubling of funds to the
Company's balance sheet, taking into account dividend
payments. For common shares of Kazakhtelecom JSC
"ASYL INVEST" said the fair price at 30,433 tenge, together
with the expected dividend yield potential stock investments
when buying at current price levels will be 106%. Preferred
shares have the potential to increase to 23,000 tenge per
share. Along with the expected dividend yield of investment
in shares is 109%. Analysts of "ASYL INVEST" recommend
buying shares of the Company
- The news background today is positive for stocks of mining
companies in Kazakhstan. "ASYL INVEST" recommends to
"buy" shares of Kazakhmys and EP KMG. Our target price
on shares of Kazakhmys is 16.9 British pounds, shares of
KMG EP - 20,254 KZT.
- Analysts of "ASYL INVEST" also recommend to "buy" Halyk
Bank common stocks, which received good support at
around 200 tenge. At current price levels, 198.5 tenge per
share, they look extremely attractive. Leading credit rating
agency S & P in December raised the long-term credit
ratings of the bank by two grades to 'BB' from 'B +', while
maintaining its outlook "stable". Rating actions confirm the
view of the "ASYL INVEST" to the issuer as a financially
secure, given the leading market position, low debt burden,
high levels of capitalization and liquidity, as well as high
ability to generate profits. Target price of "ASYL INVEST" on
the shares of the bank is 474 tenge.
This material has only informative character and is not the offer
or recommendation to make any transactions with the stocks. Irbis Agency doesn't
take responsibility for the opinions which are given in this material.
[2012-01-23]