RATINGS GUIDE

Ratings as of FEB 7, 2012
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)
FY10A
FY11A/F
FY12F
FY10A
FY11A/F
FY12F
FY10A
FY11A/F
FY12F
Al-Ghazi Tractors
159.1
176.00
Reduce
44.5
32.0
23.1
20.0
15.0
15.0
148.2
157.7
165.8
5.5
9%
1.1
0.71
43
Dec
Allied Bank
71.9
61.37
Accumulate
9.6
11.6
11.8
3.6
5.0
5.0
41.8
49.7
56.4
5.3
8%
1.2
1.06
860
Dec
Bank Al-Habib
30.3
32.23
Reduce
4.1
4.6
4.7
2.0
2.5
2.5
18.3
21.8
24.0
7.1
8%
1.5
1.22
879
Dec
Faysal Bank
9.4
9.35
Hold
1.4
0.6
0.8
NIL
NIL
NIL
20.0
22.6
23.3
15.8
NIL
0.4
1.15
824
Dec
Lotte Pak PTA
12.7
8.78
Strong Buy
3.0
2.9
1.8
0.5
0.5
0.5
6.4
8.7
10.0
3.1
6%
1.0
1.30
1,514
Dec
Nishat Power Ltd.*
15.3
14.18
Hold
0.1
5.3
7.2
NIL
NIL
2.8
10.2
15.5
19.8
2.0
20%
0.7
1.00
354
Jun
Bank Alfalah
13.5
12.50
Hold
0.7
3.0
2.4
NIL
1.0
1.0
16.5
18.6
19.9
4.2
8%
0.7
1.26
1,349
Dec
Habib Bank
116.5
117.10
Reduce
14.2
17.8
17.9
6.5
7.0
7.0
81.2
93.6
105.1
6.6
6%
1.3
1.10
1,102
Dec
MCB Bank
187.6
181.90
Hold
20.2
24.5
26.2
10.5
12.0
12.0
94.7
101.1
115.3
7.4
7%
1.8
1.20
836
Dec
United Bank
69.4
58.97
Accumulate
9.1
11.9
11.3
5.0
6.0
6.0
55.9
63.0
69.7
4.9
10%
0.9
1.22
1,224
Dec
Attock Cement*
81.8
59.01
Buy
11.7
7.9
12.7
5.0
4.5
5.0
62.3
67.0
74.7
4.6
8%
0.8
0.82
87
Jun
Cherat Cement*
8.5
12.04
Sell
-0.1
0.7
2.0
NIL
NIL
NIL
23.5
24.4
24.7
6.1
NIL
0.5
0.86
96
Jun
D.G. Khan Cement*
20.5
24.83
Sell
0.5
0.4
3.0
NIL
NIL
NIL
60.5
69.0
71.9
8.4
NIL
0.3
1.35
438
Jun
Fauji Cement*
3.1
4.04
Sell
0.2
0.3
0.6
NIL
NIL
NIL
7.2
8.3
11.1
6.5
NIL
0.4
1.23
1,331
Jun
Lafarge Pakistan Cem
2.7
2.29
Accumulate
0.7
-0.2
0.1
NIL
NIL
NIL
6.7
6.5
6.6
N/A
NIL
0.4
1.07
1,313
Dec
Lucky Cement*
98.9
87.60
Accumulate
9.7
12.3
16.9
4.0
4.0
5.0
77.6
85.9
97.8
5.2
6%
0.9
1.21
323
Jun
Millat Tractors Ltd*
321.5
430.30
Sell
62.4
73.0
27.8
65.0
47.5
20.0
114.5
127.1
131.2
15.5
5%
3.3
0.70
37
Jun
Pak Suzuki
70.0
60.68
Accumulate
3.1
10.2
6.5
0.5
1.0
NIL
176.2
176.2
183.7
6.0
2%
0.3
0.85
82
Dec
Hub Power*
46.9
35.52
Buy
4.8
4.7
4.8
5.0
5.5
4.7
25.8
25.5
25.2
7.4
13%
1.4
0.81
1,157
Jun
KAPCO*
44.0
41.61
Hold
5.8
7.4
6.2
5.0
6.5
6.0
25.6
27.2
27.0
6.7
14%
1.5
0.59
880
Jun
Attock Petroleum*
481.1
434.30
Accumulate
52.0
61.6
64.2
25.0
41.5
40.0
133.6
167.0
191.4
6.8
9%
2.3
1.03
69
Jun
P.S.O*
404.4
259.10
Strong Buy
52.8
86.2
61.9
8.0
10.0
15.0
171.0
244.3
226.8
4.2
6%
1.1
1.12
172
Jun
Oil & Gas Dev.*
151.4
155.20
Reduce
13.8
14.8
16.6
5.5
5.5
6.0
36.6
46.9
57.3
9.3
4%
2.7
1.20
4,301
Jun
Pakistan Oilfields*
438.2
365.90
Accumulate
31.4
45.7
56.4
25.5
35.0
39.0
123.1
141.3
158.8
6.5
11%
2.3
1.22
237
Jun
Pakistan Petroleum*
255.8
175.60
Strong Buy
17.7
23.9
30.8
6.8
10.9
14.0
60.8
71.8
89.6
5.7
8%
2.0
1.06
1,314
Jun
Indus Motors*
276.7
221.00
Buy
43.8
34.9
41.6
15.0
15.0
15.0
160.1
179.6
217.0
5.3
7%
1.0
1.10
79
Jun
P.I.C.T.*
88.3
86.00
Hold
8.3
11.5
10.1
4.0
5.0
5.0
34.1
42.9
40.1
8.5
6%
2.1
0.80
109
Jun
P.T.C.L.*
16.7
11.42
Strong Buy
2.3
1.7
1.7
1.8
1.8
1.5
21.2
21.1
21.3
6.6
13%
0.5
1.11
5,100
Jun
Fauji Fert. Bin
54.2
46.45
Accumulate
7.0
10.8
8.6
6.6
10.2
7.0
13.1
13.6
15.2
4.3
22%
3.4
0.94
934
Dec
Fauji Fertilizer
211.3
185.20
Accumulate
13.0
23.5
24.3
10.4
20.8
19.5
18.2
25.4
30.4
7.9
11%
7.3
0.75
848
Dec
ICI Pakistan
168.2
140.00
Buy
17.5
14.5
18.8
17.5
10.0
10.0
97.1
119.5
128.1
9.7
7%
1.2
1.03
139
Dec
Engro Polymer
8.2
8.38
Reduce
-1.2
-0.9
1.6
NIL
NIL
NIL
10.4
9.7
10.6
N/A
NIL
0.9
1.09
663
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 >>