RATINGS GUIDE

Ratings as of JAN 6, 2009
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)
FY07A
FY08F/A
FY09F
FY07A
FY08F/A
FY09F
FY07A
FY08F/A
FY09F
Engro Chemical
286.0
106.10
Strong Buy
16.3
22.3
21.3
7.0
7.8
7.8
80.0
69.3
80.6
4.8
7%
1.5
0.83
193
Dec
Habib Bank
96.2
71.97
Buy
10.6
16.8
19.4
3.6
3.5
3.5
72.5
90.3
106.2
4.3
5%
0.8
1.16
759
Dec
MCB Bank
124.1
108.50
Accumulate
24.3
24.5
26.6
12.5
9.0
8.5
72.3
84.0
102.0
4.4
8%
1.3
1.27
628
Dec
National Bank
92.1
52.70
Strong Buy
21.2
18.1
20.2
7.5
5.0
5.5
77.2
87.1
95.2
2.9
9%
0.6
1.23
897
Dec
United Bank
93.2
35.54
Strong Buy
8.3
11.6
14.9
2.4
2.3
3.0
36.0
36.6
39.2
3.1
6%
1.0
1.05
1,012
Dec
Attock Cement*
45.0
36.23
Buy
11.0
6.0
12.5
4.5
1.5
2.5
47.1
516.3
59.6
2.9
7%
0.6
0.85
72
Jun
Cherat Cement
9.3
14.27
Sell
1.9
0.7
3.7
1.0
NIL
1.0
23.4
22.6
26.3
20.1
NIL
0.6
0.71
96
Jun
D.G. Khan Cement
37.6
21.68
Strong Buy
6.4
-0.2
0.7
1.5
NIL
NIL
133.8
118.6
115.4
N/A
NIL
0.2
1.20
254
Jun
Fauji Cement
4.8
6.17
Sell
0.9
1.0
0.2
NIL
NIL
NIL
5.4
13.3
14.3
5.9
NIL
0.5
1.23
693
Jun
Lucky Cement*
57.0
32.61
Strong Buy
7.9
8.3
14.8
1.0
NIL
NIL
28.9
57.7
71.9
2.2
NIL
0.5
1.25
323
Jun
M.Leaf Cement
4.8
5.45
Sell
0.1
-2.0
-1.7
NIL
NIL
NIL
24.2
21.0
19.3
N/A
NIL
0.3
1.05
372
Jun
Pakistan Cement
3.3
4.01
Sell
-0.5
-0.8
-1.4
NIL
NIL
NIL
9.3
8.4
10.0
N/A
NIL
0.5
1.12
1,135
Dec
Pioneer Cement
9.5
21.79
Sell
-0.5
-0.9
-2.7
NIL
NIL
NIL
10.5
22.8
25.5
N/A
NIL
1.0
0.93
200
Jun
National Refinery*
215.6
99.65
Strong Buy
52.6
75.1
9.7
16.7
20.0
3.0
159.4
211.6
224.5
10.3
3%
0.4
0.80
80
Jun
Pakistan Refinery*
146.3
84.37
Strong Buy
7.2
60.3
-4.5
2.9
1.4
NIL
137.3
194.5
191.5
N/A
NIL
0.4
0.75
35
Jun
Hub Power *
34.2
16.45
Strong Buy
2.3
2.3
3.0
2.9
2.2
3.0
25.1
24.6
24.4
5.5
18%
0.7
0.53
1,157
Jun
KAPCO
46.0
36.46
Buy
5.7
9.1
6.7
6.0
5.5
7.4
21.4
23.7
23.0
4.0
15%
1.5
0.49
880
Jun
Attock Petroleum
314.6
151.20
Strong Buy
36.0
55.0
48.3
11.7
14.0
17.5
72.0
114.4
135.8
2.7
9%
1.3
0.86
48
Jun
P.S.O
251.5
124.00
Strong Buy
27.3
81.9
30.0
21.0
23.5
NIL
122.1
180.0
198.1
1.5
19%
0.7
1.18
172
Jun
Shell Pakistan
290.0
294.80
Reduce
12.9
93.8
17.0
16.0
50.0
NIL
172.7
248.0
267.0
3.1
17%
1.2
0.61
55
Jun
Sui North Gas
65.0
24.83
Strong Buy
4.9
4.6
4.4
3.0
3.5
2.5
29.7
32.1
32.8
5.5
14%
0.8
1.05
549
Jun
Sui South Gas
15.7
13.40
Accumulate
0.4
1.5
2.5
0.5
1.3
2.3
14.5
15.4
16.9
9.1
9%
0.9
1.07
671
Jun
Oil & Gas Dev.*
95.1
49.27
Strong Buy
10.6
11.5
14.0
9.0
9.5
11.0
23.4
25.4
28.4
3.5
22%
1.7
1.03
4,301
Jun
Pakistan Oilfields
197.3
105.10
Strong Buy
32.0
26.7
36.4
15.0
12.5
13.3
98.7
82.3
107.3
3.9
12%
1.3
1.03
197
Jun
Pakistan Petroleum*
169.8
116.50
Strong Buy
22.2
26.1
33.6
10.0
15.5
14.9
53.2
57.9
52.6
3.5
13%
2.2
1.10
754
Jun
Honda Atlas Cars*
10.5
14.10
Sell
-1.9
0.5
0.2
NIL
NIL
NIL
17.1
22.6
2.8
70.5
NIL
5.0
0.75
143
Mar
Indus Motors*
121.7
105.40
Accumulate
34.9
29.2
10.0
13.0
10.5
3.0
102.3
120.1
127.0
10.5
3%
0.8
0.61
79
Jun
Pak Suzuki
103.7
71.85
Strong Buy
33.7
7.5
10.8
5.0
1.5
NIL
169.8
177.3
187.3
9.6
2%
0.4
0.80
82
Dec
Fauji Fert. Bin
22.7
14.69
Strong Buy
2.7
2.5
3.0
2.5
1.5
2.5
9.1
8.8
9.9
5.9
10%
1.7
1.06
934
Dec
Fauji Fertilizer
104.2
67.97
Strong Buy
10.9
15.0
16.0
11.0
14.5
15.0
25.8
33.0
32.5
4.5
21%
2.1
0.68
493
Dec
ICI Pakistan
157.3
66.75
Strong Buy
12.9
15.7
17.7
6.0
5.5
6.5
82.1
102.8
112.4
4.2
8%
0.6
0.90
139
Dec
Tri-Pack Films
174.7
128.20
Buy
14.7
19.2
20.7
10.0
10.0
11.0
41.8
54.0
67.7
6.7
8%
2.4
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 FY08. Balance sheet figures are estimated until issuance of published statements. More >>