Sakari

Sakari: Credit Suisse note that results were broadly in-line with its house forecasts, although add that its forecasts were below consensus. 2Q12 ASP was $94.50/ton vs Credit Suisse's $87.00/ton forecast. OCBC add that Sakari did some some improvements as ASPs held up pretty well. The topline was in-line with house expectations, while the bottom-line was a bit above house estimates, but add that it's a very cyclical stock and performance) and will have to depend on the overall market. If the direction is not too hot, the high beta could work against them.OCBC rates Sakari Hold with a $1.45 fair value. Credit Suisse rates it Neutral with a $1.45 TP.