RATINGS GUIDE

Ratings as of MAR 12, 2010
Stock
Target Price
Price
Rating
EPS(Rs)
DPS(Rs)
BVPS(Rs)
P/E x
Div Yld(%)
P/BV x
Beta
Sh. Out. (m)
Year end
(LT)
(LT)
FY08A
FY09F/A
FY10F
FY08A
FY09F/A
FY10F
FY08A
FY09F/A
FY10F
Allied Bank
61.9
64.78
Reduce
6.4
9.7
10.1
2.5
3.4
3.5
34.6
36.5
42.3
6.7
5%
1.8
1.24
646
Dec
Bank Alfalah
16.9
12.66
Buy
1.0
1.6
2.4
NIL
NIL
NIL
10.8
15.7
18.6
7.9
NIL
0.8
1.20
1,349
Dec
Habib Bank
121.3
128.90
Reduce
11.0
16.4
21.2
5.5
4.0
4.0
71.4
79.8
97.7
7.9
3%
1.6
1.21
911
Dec
MCB Bank
197.7
219.30
Reduce
22.3
22.3
25.0
11.5
10.0
11.5
84.6
91.1
110.1
9.8
5%
2.4
1.25
691
Dec
National Bank
98.8
97.05
Hold
17.2
18.9
20.0
6.5
6.0
6.5
114.2
116.2
118.1
5.1
6%
0.8
1.23
897
Dec
United Bank
70.9
67.02
Hold
7.5
7.8
10.0
2.5
3.0
3.0
39.4
45.6
53.6
8.5
4%
1.5
1.30
1,113
Dec
Attock Cement*
46.4
67.99
Sell
6.0
20.7
9.3
1.5
3.2
2.3
48.9
66.2
73.9
7.4
3%
0.9
0.85
72
Jun
Cherat Cement*
6.3
11.08
Sell
0.1
1.7
-0.4
NIL
NIL
NIL
22.6
23.7
23.7
N/A
NIL
0.5
0.92
96
Jun
D.G. Khan Cement
34.3
31.07
Accumulate
-0.2
1.3
0.7
NIL
NIL
NIL
98.9
59.2
75.9
23.9
NIL
0.5
1.25
304
Jun
Fauji Cement*
4.3
6.28
Sell
0.6
1.5
-0.7
NIL
NIL
NIL
13.4
14.0
14.6
N/A
NIL
0.4
1.19
693
Jun
Lafarge Pakistan Cem
1.9
3.70
Sell
-1.1
-0.1
-0.0
NIL
NIL
NIL
9.7
8.3
8.3
N/A
NIL
0.4
1.05
1,135
Dec
Lucky Cement*
75.2
77.49
Reduce
8.3
14.2
11.7
NIL
4.0
2.0
57.7
71.9
83.6
6.6
3%
0.9
1.20
323
Jun
M.Leaf Cement
2.6
4.07
Sell
-1.8
-2.1
-2.0
NIL
NIL
NIL
22.5
18.9
18.0
N/A
NIL
0.2
0.95
372
Jun
National Refinery*
223.3
168.00
Buy
75.1
19.2
19.2
20.0
12.5
6.0
211.6
217.0
237.7
8.7
4%
0.7
0.92
80
Jun
Pakistan Refinery*
168.6
102.20
Strong Buy
60.3
-130.6
2.1
1.4
NIL
NIL
194.5
62.3
225.8
49.1
NIL
0.5
0.88
35
Jun
Hub Power*
44.0
36.07
Buy
2.3
3.3
4.6
2.2
3.4
4.2
24.6
25.5
23.9
7.8
12%
1.5
0.74
1,157
Jun
KAPCO*
54.0
44.31
Buy
9.1
6.4
7.6
5.5
6.5
7.0
24.2
26.2
26.9
5.8
16%
1.6
0.43
880
Jun
Attock Petroleum*
458.5
358.30
Buy
45.9
53.5
50.3
16.7
25.0
23.0
96.1
123.0
140.2
7.1
6%
2.6
0.92
58
Jun
P.S.O*
357.1
310.20
Accumulate
81.9
-39.1
37.9
23.5
5.0
13.5
180.5
121.7
152.8
8.2
4%
2.0
1.05
172
Jun
Shell Pakistan
276.5
285.60
Reduce
75.0
17.9
28.8
40.0
16.0
26.0
91.3
89.6
93.6
16.0
6%
3.2
0.61
68
Jun
Sui North Gas*
54.7
29.24
Strong Buy
4.6
1.7
5.9
NIL
NIL
3.0
31.2
29.4
37.2
5.0
10%
0.8
1.08
549
Jun
Sui South Gas
14.4
19.16
Sell
1.5
2.5
3.2
NIL
2.2
2.9
15.4
16.9
17.9
7.7
11%
1.1
0.97
671
Jun
Oil & Gas Dev.*
117.8
119.50
Reduce
11.5
12.9
13.3
9.5
8.3
9.0
25.4
29.3
33.4
9.0
8%
3.6
1.17
4,301
Jun
Pakistan Oilfields*
277.9
237.60
Accumulate
36.4
23.8
27.9
13.3
1.8
20.0
107.2
109.6
117.5
8.5
8%
2.0
1.08
237
Jun
Pakistan Petroleum*
235.3
196.10
Accumulate
19.8
27.8
23.1
11.7
10.8
12.0
43.8
63.3
70.1
8.5
6%
2.8
1.10
996
Jun
Honda Atlas Cars
14.0
17.33
Sell
0.5
-2.8
0.6
NIL
NIL
NIL
22.6
20.0
20.6
N/A
NIL
0.9
0.75
143
Mar
Indus Motors*
250.0
209.90
Accumulate
29.2
17.6
30.8
10.5
10.0
11.0
120.1
131.0
149.5
6.8
5%
1.4
0.85
79
Jun
Pak Suzuki
91.2
82.84
Accumulate
7.6
4.5
6.0
NIL
NIL
1.0
172.0
175.0
180.0
18.4
NIL
0.5
0.71
82
Dec
P.I.C.T.*
74.6
80.28
Reduce
4.9
8.6
7.0
2.5
NIL
2.0
21.4
27.2
39.2
11.5
2%
2.0
0.89
109
Jun
P.T.C.L.*
23.1
20.80
Accumulate
-0.6
1.8
2.3
NIL
1.5
1.9
19.2
19.5
20.9
9.1
9%
1.0
1.10
5,100
Jun
Engro Chemical*
228.0
184.40
Buy
14.2
12.1
16.2
5.9
5.5
8.0
77.5
82.0
92.5
11.4
4%
2.0
0.97
298
Dec
Fauji Fert. Bin
37.5
33.64
Accumulate
3.1
4.1
4.7
2.9
4.0
4.3
11.2
11.4
12.0
8.3
12%
2.9
0.94
934
Dec
Fauji Fertilizer
109.8
105.30
Hold
9.6
13.0
15.0
10.0
12.8
14.0
18.1
19.3
21.0
8.1
12%
5.5
0.76
679
Dec
Engro Polymer
19.3
15.14
Buy
0.7
-0.1
0.8
NIL
NIL
0.5
12.6
12.5
13.5
N/A
NIL
1.2
1.04
520
Dec
ICI Pakistan
157.3
160.60
Reduce
14.9
17.7
22.0
6.5
6.5
6.8
91.4
112.4
122.9
9.1
4%
1.4
0.90
139
Dec
Tri-Pack Films
164.5
115.30
Strong Buy
16.0
13.9
16.0
14.0
11.0
12.0
43.7
46.6
50.7
8.3
10%
2.5
0.81
30
Dec

 

 


  • Long term (LT) ratings based on current price differential over our long-term (over 1 year) fair value of the stock based on Discounted Cash Flow projections.
  • P/Ex, dividend yield and P/BVx are calculated on forecasted EPS, DPS and BVPS respectively.
  • * Actual EPS, DPS and BVPS for FY09. Balance sheet figures are estimated until issuance of published statements. More >>