Corporate Updates
Erajaya Swasembada (ERAA IJ): Expansion drag
Erajaya Swasembada (ERAA IJ)
HOLD-OPF / TP: IDR:500 (+7.8%)
Analyst: Chandra Pasaribu
Expansion drag
• Weak result in 2Q22
• Diversification yet to work
• Earnings downgrade, leading to lower TP
• Downgrade to HOLD-OPF