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Tuesday, December 21, 2010

Medco Target Price Set To IDR 3,200

PT Medco Energi Internasional (MEDC IJ): Indonesia’s biggest listed oil company was rated “hold” in new coverage at Daiwa Securities Capital Markets Co., which said the stock “appears expensive” compared with its peers and the company will have poor production growth until 2015. The brokerage set a share-price estimate of 3,200 rupiah, according to a report by analyst Adrian Loh.

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