Coal price based on Newcastle Coal Index (NEWC) benchmark keep on increasing up to US$162.66 per ton. This is good news from coal mining company like PT Indo Tambangraya Megah Tbk (ITMG).

Analis Kresna Graha Sekurindo Jordan Zulkarnaen predicts, ITMG’s coal price hits US$100 per ton. It is projected, ITMG will pocketing income up to US$1.3 billion with nett profit of US$150 million this year. To compared, ITMG has note US$771.82 million income with US$53.77 milion nett profit on 2007. Jordan thinks, ITMG share price is now reflecting its prospect. itu. Therefore, he recommend to keep the share with targeted price of Rp34,500 per share.

Meanwhile Norico Gaman, Head of Research Analyst from BNI Securities see ITMG share price is cheap. Furthermore, company has a big amount of stockpile. He then recommend to buy with targeted price of Rp45,500.

Kompas, 24 June 2008