Bumi Serpong Damai (BSDE IJ): Maintaining conservative stance

Bumi Serpong Damai (BSDE IJ)
BUY / TP: IDR:1,200 (+37.9%)
Analyst: Yap Swie Cu

Maintaining conservative stance
• Expects recovery in residential segment sales
• Stable commercial sales outlook
• JV land sales to support remaining targets
• Re-iterate BUY with lower TP of IDR1,200