Astra International "outperform," target price raised

11/21/07 - Credit Suisse

LONDON, November 21 (newratings.com) - Analysts at Credit Suisse maintain their "outperform" rating on Astra International (ASJ). The target price has been raised from Rp28,000 to Rp28,500.

In a research note published this morning, the analysts mention that the company has reported its October motorcycle sales ahead of the estimates due to low interest rates, new models and improved purchasing power. Astra Honda Motor is expected to achieve higher volumes than its rivals due to proactive promotion, Yamaha production being at full capacity and the struggle faced by Suzuki, the analysts say.