Corporate Updates

Erajaya Swasembada (ERAA IJ): New business yet to contribute

Erajaya Swasembada (ERAA IJ)
BUY / TP: IDR:445 (+29.4%)
Analyst: Chandra Pasaribu

New business yet to contribute
• Lower than expectations
• Cost outpacing top-line growth
• Earnings downgrade
• Steep correction in share price, upgrade to BUY

Corporate Updates

Erajaya Swasembada (ERAA IJ): New business yet to contribute

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