In the last 6 trading days, diversified energy company PT Indika Energy Tbk (INDY) has gained 16.99% to Rp4,475 per share, reflecting annualized price to earning ratio (P/E) of 22.52x, from Rp3,825 per share.
Indika last week announced an option agreement to acquire 51% holding in coal tug boat and barging company PT Mitra Bahtera SegaraSejati (MBSS), potentially to be a listed company in early 2011.
Previously, J.P.Morgan published a company report on Indika with a target price of Rp5,000 per share, implying 25.17x of annualized P/E by the end of 2010. What other catalysts for Indika stocks? Please login or register to read the remaining story.
Disclosure: No position at the stock mentioned above.
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