Bumi Serpong Damai (BSDE IJ): Earnings adjusted to rising costs

Bumi Serpong Damai (BSDE IJ)
BUY / TP: IDR:1,200 (+23.1%)
Analyst: Yap Swie Cu

Earnings adjusted to rising costs
• Earnings slumped in 3Q25
• Stronger 4Q25 revenue expected
• Net profit estimate reduced
• Re-iterate BUY with lower TP of IDR1,200