Jardine C&C - Jardine C&C, Astra targets raised by Goldman Sachs

Stock Name: Jardine C&C
Company Name: JARDINE CYCLE & CARRIAGE LTD
Research House: Golman Sachs

Goldman Sachs raises Jardine Cycle & Carriage (C07.SG) target price to $40.00 from $38.00 after raising target for Indonesian unit Astra International (ASII.JK) to IDR49,000 ($7.2) from IDR45,500, says Dow Jones.



Change for Astra follows roll-over of NAV estimate to 2011 basis. Keeps both stocks at Neutral on valuation grounds but prefers Jardine C&C over Astra as cheaper option. Says motorcycle sales in Indonesia remain robust, driven by strong consumer credit, lower lending rates, increased consumer confidence, although car sales less robust.



Jardine C&C +2.7% at $39.08.