RATINGS GUIDE

Ratings as of JUL 30, 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)
FY09A
FY10F
FY11F
FY09A
FY10F
FY11F
FY09A
FY10F
FY11F
Allied Bank
64.5
58.51
Accumulate
9.1
10.1
10.2
3.6
3.5
3.8
38.3
42.3
46.8
5.8
6%
1.4
1.06
782
Dec
Bank Alfalah
13.1
9.89
Buy
0.7
2.4
2.0
0.1
NIL
1.0
16.4
18.6
17.2
4.1
NIL
0.5
1.26
1,349
Dec
Habib Bank
114.7
105.60
Hold
12.3
15.5
17.7
5.5
4.0
5.5
70.0
83.4
100.0
6.8
4%
1.3
1.10
1,002
Dec
MCB Bank
214.2
211.50
Hold
20.4
22.3
27.3
11.0
10.0
11.5
91.7
100.3
117.8
9.5
5%
2.1
1.20
760
Dec
United Bank
71.0
59.47
Accumulate
7.5
10.0
10.7
2.3
3.0
2.5
49.8
53.6
62.2
6.0
5%
1.1
1.21
1,224
Dec
Attock Cement
71.3
70.59
Hold
17.2
12.6
13.5
4.2
5.5
5.0
55.2
65.0
68.1
5.6
8%
1.1
0.93
87
Jun
Cherat Cement
6.3
9.75
Sell
1.7
-0.4
2.0
NIL
NIL
NIL
23.7
23.7
25.4
N/A
NIL
0.4
0.92
96
Jun
D.G. Khan Cement
34.3
28.30
Buy
1.7
0.7
1.1
NIL
NIL
NIL
68.8
75.9
83.2
38.2
NIL
0.4
1.25
304
Dec
Fauji Cement
4.3
4.93
Sell
1.5
-0.7
1.9
NIL
NIL
1.0
14.0
14.6
15.4
N/A
NIL
0.3
1.19
693
Jun
Lafarge Pakistan Cem
1.9
3.11
Sell
-1.0
-0.0
-0.3
NIL
NIL
NIL
7.4
8.3
6.8
N/A
NIL
0.4
1.05
1,313
Dec
Lucky Cement
75.2
69.48
Hold
14.2
11.7
12.7
4.0
2.0
3.0
71.9
83.6
109.9
5.9
3%
0.8
1.20
323
Dec
National Refinery
223.3
196.70
No Rating
19.2
9.7
19.2
12.5
3.0
6.0
217.0
224.5
237.7
20.3
2%
0.9
0.92
80
Jun
Pakistan Refinery
168.6
75.54
No Rating
-130.6
-4.5
2.1
NIL
NIL
NIL
62.3
223.4
225.8
N/A
NIL
0.3
0.88
35
Jun
Hub Power
46.5
36.71
Buy
3.3
4.8
5.4
3.4
4.6
4.9
25.5
25.8
27.1
7.7
13%
1.4
0.85
1,157
Jun
KAPCO
55.5
44.20
Buy
6.4
6.0
7.8
6.5
5.9
7.1
26.2
26.4
27.1
7.3
13%
1.7
0.56
880
Jun
Attock Petroleum
485.3
310.10
Strong Buy
53.5
54.3
59.7
25.0
24.0
26.0
123.0
153.4
187.2
5.7
8%
2.0
0.92
58
Jun
P.S.O
357.1
275.70
Buy
-39.1
37.9
54.1
5.0
13.5
27.0
121.7
152.8
167.3
7.3
5%
1.8
1.05
172
Jun
Shell Pakistan
276.5
235.20
Accumulate
37.4
28.8
37.2
33.0
26.0
33.0
120.8
93.6
97.4
8.2
11%
2.5
0.61
68
Dec
Sui North Gas
54.7
27.89
Strong Buy
1.7
4.4
5.9
NIL
4.4
3.0
29.4
34.3
37.2
6.4
16%
0.8
1.08
549
Jun
Oil & Gas Dev.
117.8
151.60
Sell
12.9
13.3
15.7
8.3
6.5
12.0
29.3
33.4
37.1
11.4
4%
4.5
1.17
4,301
Jun
Pakistan Oilfields
277.9
234.70
Accumulate
23.8
27.9
39.9
1.8
20.0
21.9
109.6
117.5
141.9
8.4
9%
2.0
1.08
237
Jun
Pakistan Petroleum
235.3
203.50
Accumulate
27.8
23.1
27.2
10.8
12.0
14.0
63.3
70.1
77.3
8.8
6%
2.9
1.10
996
Jun
Indus Motors
282.0
260.10
Hold
17.6
33.8
36.0
10.0
11.0
13.0
131.0
151.3
174.3
7.7
4%
1.7
0.85
79
Dec
Pak Suzuki
70.8
87.14
Sell
3.1
3.6
4.7
0.5
NIL
1.0
174.1
177.6
177.3
24.3
NIL
0.5
0.85
82
Dec
P.I.C.T.
95.9
76.50
Buy
8.6
9.7
11.9
NIL
3.0
6.0
27.2
33.9
39.8
7.9
4%
2.3
0.89
109
Dec
P.T.C.L.
23.1
19.51
Accumulate
2.7
2.1
2.3
1.6
1.5
1.9
28.8
20.6
20.9
9.1
8%
0.9
1.10
3,447
Dec
Engro Chemical
228.0
189.00
Buy
12.1
16.2
18.2
5.5
8.0
6.5
82.0
92.5
104.0
11.7
4%
2.0
0.97
328
Dec
Fauji Fert. Bin
37.5
29.74
Buy
4.1
4.7
4.9
4.0
4.3
4.5
11.4
12.0
12.5
6.4
14%
2.5
0.94
934
Dec
Fauji Fertilizer
109.8
111.90
Reduce
13.0
15.0
15.1
13.2
14.0
13.9
19.3
21.0
17.0
7.5
13%
5.3
0.76
679
Dec
Engro Polymer
19.3
10.76
Strong Buy
-0.5
0.8
1.6
NIL
0.5
1.0
12.2
13.5
14.9
13.1
5%
0.8
1.04
520
Dec
ICI Pakistan
157.3
125.00
Buy
14.7
17.7
22.0
8.0
6.5
6.8
103.9
112.4
122.9
7.1
5%
1.1
0.90
139
Dec
Tri-Pack Films
164.5
102.00
Strong Buy
15.5
16.0
18.6
10.0
12.0
13.0
53.2
50.7
56.3
6.4
12%
2.0
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 >>