COME Sociedad Comercial del Plata

[fedegonzalez]

Alguno sabe porque suben tanto los lotes con el papel neutro??
torna?

[Hiupy]

Ahi van a 0,15

si no me dan no sale

[Tornado882]

Ahi van a 0,15

Ahí esta mejor, que se vayan parando los peques ahí arriba y surto los mios

[chewbaca]

Estimados,

no se mueve la loteria o mi plataforma es una gar***?

[Hiupy]

Ahi van a 0,15

[Tornado882]

Asi dan los de 0,13 en la 3,60

Está dificil por ahora, 10.000 todos juntitos es más probable que se vayan parando arriba de eso

[Hiupy]

Ahora tiene que ir a 3,30 para herir a los pusilánimes

Asi dan los de 0,13 en la 3,60

[Hiupy]

Esa es la 2º etapa, enchufarle a los fondos

Ahora tiene que ir a 3,30 para herir a los pusilánimes

[Hiupy]

Señores, va primicia: Pongan un ojo en Tran. que obligaron a Petrobras Brasil a venderla y eso esta por saltar...

Vean el 7,60 y anotenlo

[Hiupy]

JAJAJAJAJ esto es joda ¿no? . Es un chiste el mismo Agente que se canso de manipular el precio para que no subiera, dando para abajo de manera obscena hoy sale a decirte que el precio es de $ 3.70 Naaaaaa no le pueden dar bola a estos ladriss, espero que no haya gente que pague por ese informe.

En fin parece que se quedaron sin gente para robar porque nadie pone un mango acá y necesitan captar fondos frescos para hacerse suculentas ganancias.

No, no es chiste, es logico, primero compras en cubierto y despues sale el ADR. o una venta masiva ., ASI es el mercado.

Parece que Poll Singer esta interesado, o Buffet

[Tornado882]

necesitan captar fondos frescos para hacerse suculentas ganancias.

Esa es la 2º etapa, enchufarle a los fondos

[Hiupy]

con razon no me dan los 10.000 de la 3,60

[garok]

Pajarito salio a recomendar a COME, atenti que estos informes le llegan a los inversores de afuera y capaz
frena un poco la venta masiva de los fondos extranjeros.



Diversified Portfolio of Arg. Assets; Initiating with Market Perform

Recommendation: We are initiating coverage of shares in Sociedad Comercial del Plata (COME) with
a Market Perform rating as we believe that the risk/reward is well balanced at this point in time. We
are setting our fair valuation at AR$3.70/share, which implies that the company is trading at a 10% discount to our NAV. In our opinion, COME represents a vehicle to invest in illiquid assets in
Argentina, which will benefit from economic growth and/or the normalization process that
Argentina is currently going through.
The company is a holding company offering exposure to: 1) the E&P, and downstream on the energy side; 2) operations in the telecommunication business; 3) the construction industry; and 4) the largest theme park in the country, among other sectors. Its strategy is to acquire majority stakes in companies in order reduce inefficiencies and unlock hidden value,disregarding the industry in which it operates.

JAJAJAJAJ esto es joda ¿no? . Es un chiste el mismo Agente que se canso de manipular el precio para que no subiera, dando para abajo de manera obscena hoy sale a decirte que el precio es de $ 3.70 Naaaaaa no le pueden dar bola a estos ladriss, espero que no haya gente que pague por ese informe.

En fin parece que se quedaron sin gente para robar porque nadie pone un mango acá y necesitan captar fondos frescos para hacerse suculentas ganancias.

[SANTIVALEN]

DE CUANDO ES ESA NOTICIA SANTIVALEN?

Saco informe Ayer RJ, segun me comentaron estarian esperando balance para entrarle con todo

pego 2da parte



In our view, COME combines the following investment
positives and negatives:
Positive #1 – Advantageous pricing at E&P company; Compañia General de Combustibles
(CGC): Through its 30% stake, COME has exposure to CGC’s gassy profile and its advantageous
pricing scheme (on incentive plans). CGC offers an above-average presence in the gas
operations in Argentina (65% of total output vs. ~50% at YPF and PZE). We believe that the
economics for gas will remain strong in Argentina, as the country is still importing close to onethird
of the gas consumed in the country; thus, highlighting the need to stimulate local output
through price incentives. After the acquisition of PZE’s assets in the Austral basin (in March
2015), the company’s output jumped from ~9Kboe/ to ~22Kboe/d.
Positive #2 – Growth of Metrotel’s Internet business: Metrotel, a company fully owned by
COME, is one of the fastest growing internet providers in the sector. Metrotel has close to 10k
clients and its customer base has jumped close to 45% since 2011. We expect its client base to
grow by no less than 3-4% y/y benefiting from its active commercial strategy, the low churn in
the corporate business and Metrotel's goal to expand its network presence into the residential
segment.
Positive #3 – Exposure to Construction / Basic Materials through Pranay: Panay (55% owned
since October 2015) is one of the country's largest basic materials groups, with operations in
bricks, cement, glass, tiles and ceramics. The construction sector is one of the most reactive
sectors under positive economic conditions, multiplying by 2-3x GDP growth rates.
Investment Negatives: 1) Non-controlling stake in the main value driver asset, CGC; 2) The
opportunistic nature of Comercial del Plata’s strategy; and 3) Low levels of cash to finance
future acquisitions.
Estimates: We believe that results during 2016 will mainly be driven by the expansion we
foresee in the Metrotel, plus cost efficiencies. Thus, we believe that EBITDA should rise to
US$22 million (vs. US$15 million in 2015E at the official FX). On the bottom line, we expect net
income to reach US$9 million, declining y/y mainly due to the 1x positive results in LT
investments during 2015. Lastly, we are working with an FX of AR$16/US$1 for 2016YE. It is
worth remembering that our estimates do not including results from Pranay, which should
start to be consolidated from 4Q15, as there is no public information about the companies yet.
Valuation: Shares in COME are trading at a 10% discount to our NAV of AR$3.70/share, which is
based on sum-of-the-parts valuation, using different valuation techniques, and applying a
conglomerate discount of a 15%. On a 2016E EV/EBITDA basis, COME shares are selling at 7.3x.

[DireStraits]

La idea de darle liquidez a la plaza (para mantenerla c alta ponderacion en el merval) con el mono a bordo de la consola del one no va.
Demasiados lotes negociados en proporcion a nominales.
O la plaza a estos precios se secó y hay q ir a buscar volumen arriba.
O hizo empernada masiva lotera .