Archive for March 11th, 2010
Bumi Resources (BUMI) Target Price and Strong Buy Recommendation
March 11th, 2010
Today I read a review about BUMI from an stock analyst. He said that he has strong buy recommendation for Bumi Resources, BUMI. It’s time nearly to release corporation tax book, and he said that usually higher tax paid also mean higher revenue potential. Tax problem that being processed may only something that did by someone that didn’t like this corporation.
BUMI is public corporation so that he said that it’s impossible to unpaid the tax. based on fundamental of the corporation and anticipate tax book release in end of this March, then he give strong buy recommendation for BUMI. He has target price on Rp. 4325 on end of this year. Yesterday correction is usual thing that may happened for stock that rising up for few days. But as long as it has good fundamental then the stock price will rise again.
Some reviews that I have read said that BUMI still has low valuation so that it may still has strong potent to rise up to Rp. 3000 end of this March or maybe faster when Rp. 2600 broken and continued to break Rp. 2800. Strong buy recommendation for BUMI.