BBTN: 1,370-1,750. FIRST QUARTER NET PROFIT ROSE 27% TO IDR312 BILLION FROM IDR245 BILLION A YEAR EARLIER DUE TO HIGHER NET INTEREST INCOME.
FOR THE FULL YEAR OF 2013, NET PROFIT MAY RISE TO IDR1.6 TRILLION OR EQUAL WITH EPS OF IDR151.
BBTN NOW TRADES AT A P/E RATIO OF ONLY 9.2 X 2013 EPS VERSUS BANKING INDUSTRIAL AVERAGE P/E RATIO OF 15X. FAIR VALUE IS AT 15 X IDR151 = IDR2,265. BEST BUY IS AT ANY LEVELS BELOW IDR1, 500 FOR ONG TERM INVESTMENT.
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