Ace Hardware Indonesia (ACES IJ)
Analyst: Vincent Yunnaraga
BUY / TP: IDR:1,835 (+13.3%)
Apr-19: Moderate Pace Monthly SSSG
• Monthly SSSG still at sensible level in Apr-19
• New stores supporting monthly sales growth
• Stores opening still intact
• Less dependent on Lebaran Festive
• Maintain BUY call with unchanged TP