Indonesian Coal Producers Recommendation Buy, Nomura

Four Indonesian Coal Producers, PT Adaro Energy (ADRO IJ), PT Indo Tambangraya Megah (ITMG IJ), PT Tambang Batubara Bukit Asam (PTBA IJ) and PT Bumi Resources (BUMI IJ) were rated “buy” in new coverage at Nomura Holdings Inc.

Nomura said it was “bullish” on Indonesia’s coal mining industry given the outlook for demand globally and in the domestic power industry.