Bank Syariah Indonesia (BRIS IJ): Fairly valued – Downgrade to HOLD
Bank Syariah Indonesia (BRIS IJ) HOLD / TP: IDR:2,200 (-4.3%) Analyst: Yap Swie Cu
Fairly valued – downgrade to HOLD • Net profit reached a new record in 4Q23 boosted by lower financing cost • Minimal pressure from rise in funding cost • Modest 2024 guidance • BRIS’ price rally pushed up its valuation. Downgrade to HOLD
