XL Axiata (EXCL IJ)
BUY / TP: IDR:3,160 (+42.9%)
Analyst: Chandra Pasaribu
Witnesses softer spending
• One-offs suppress number below expectation
• Operational matrix reflecting retreat
• Fiber segment pushes towards FMC
• Re-iterate BUY, TP: IDR3,160
Aspirasi Hidup Indonesia (ACES IJ)
HOLD-OPF / TP: IDR:930 (+8.8%)
Analyst: Laras Nadira
Poised for only modest FY2025 showing
• In line with expectations
• Sales above pre-pandemic level
• Anticipate soft FY2025 growth
• Downgrade to HOLD-OPF, lower TP of IDR930
Astra International (ASII IJ)
BUY / TP: IDR:6,200 (+22.8%)
Analyst: Alditya Galih Ramadhan
Diversification protects its resiliency
• Flat results as expected
• FS cushions lackluster auto market
• What lies ahead: potential growth from small subs
• Dividend charm continues amid shift – Re-iterate BUY
Surya Semesta Internusa (SSIA IJ)
BUY / TP: IDR:1,800 (+61.4%)
Analyst: Yap Swie Cu
Progresses well
• Construction performance exceeded target
• Melia Bali’s temporary closure is to significantly reduce hospitality segment revenue in 4Q24 and 2025
• Expects a jump in property segment revenue in 4Q24
• Stronger balance sheet after SCS divestment and loan repayment
• Re-iterate BUY amid attractive valuation
GDP growth
Analyst: Chandra Pasaribu
Gaining at slower pace
• Various service sectors posting robust growth
• Consumption growth slowed
• Seeing disconnect with listed companies
• Service Sector in favor
Indofood CBP (ICBP IJ)
BUY / TP: IDR:14,000 (+13.6%)
Analyst: Laras Nadira
Remains robust despite challenges
• Beat expectations due to forex
• Strong support from overseas
• Stable input cost for now
• Maintain BUY with new TP of IDR14,000
2024-11-08 11:01:32
2024-11-07 15:02:46
2024-11-06 10:49:22