Indonesian Equities May Rise 20%, Credit Suisse Says
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Indonesian stocks may rise 20 percent by the end of 2011 as increased earnings, a potential upgrade in the country’s debt rating and a Cabinet reshuffle boost investor confidence, according to Credit Suisse Group AG.
The benchmark Jakarta Composite Index may advance to 4,400 next year, Credit Suisse analyst Arief Wana said in a report today. He advised investors to focus on “underperformers and valuations,” citing PT Indosat and PT Adaro Energy. The index rose 1.3 percent to 3,725.05 at the 4 p.m. Jakarta time close.