Adaro Energy (ADRO IJ): Optimizing efficiency

Adaro Energy (ADRO IJ)
BUY / TP: IDR:1,495 (+43.8%)
Analyst: Muhammad Abdul Aziz

Optimizing efficiency
• Going concern is not an issue
• Integrated business to strengthen its efficiency
• Plenty of room for attractive dividend
• We re-initiate coverage with a BUY call and a TP of IDR1,495 (US$0.11)