Morgan Stanley raises Indocement target

Morgan Stanley raises Indocement target
Published: 05 August 2010

Morgan Stanley raises Indocement target price to IDR18,000 from IDR16,850, on strong 2Q results, potential for consensus earnings upgrade.

 "With strong GDP growth and rising capex, we find it hard to see Indonesia cement demand faltering"; adds while stock trades just below its price target, eyes upside risk toward bull-case value of IDR22,000 on strong earnings momentum, rising Indonesian stock market.