BUMI Recommendation to Sell, Goldman Sachs say

PT Bumi Resources (BUMI), Indonesia’s biggest coal producer was cut to “sell” from “neutral” at Goldman Sachs Group Inc., which cited the stock’s “significant outperformance” and an “overdone” rally in coal prices. 

The brokerage increased its share-price estimate for Bumi by 11 percent to 2,500 rupiah, according to a report by analysts led by Nikhil Bhandari. Source: Bloomberg