Astra Otoparts (AUTO IJ): Fully charged amid softer outlook

Astra Otoparts (AUTO IJ)
BUY / TP: IDR:3,000 (+41.5%)
Analyst: Alditya Galih Ramadhan

Fully charged amid softer outlook
• Normalized (norm) income grew modestly
• Sustainable earnings remain persist
• Favorable runway for OEM to beat industry growth
• We favor its margin flexibility – TP retained at IDR3,000