Erajaya Swasembada (ERAA IJ): Expects improvement in 2Q25

Erajaya Swasembada (ERAA IJ)
BUY / TP: IDR:610 (+22.5%)
Analyst: Chandra Pasaribu

Expects improvement in 2Q25
• Slightly below expectation
• Absence of iPhone16 sales
• Modest store expansion
• Re-iterate BUY with TP of IDR610