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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
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