Gojek Tokopedia (GOTO IJ): Favorable earnings offer a ray of light

Gojek Tokopedia (GOTO IJ)
BUY / TP: IDR:90 (+52.5%)
Analyst: Research Team

Favorable earnings offer a ray of light
• On-Demand Services (ODS) to be focused on low-hanging fruit
• TikTok Shop synergies – Marginal impacts for now
• Earnings turnaround as a crucial safety net
• Re-iterate BUY call with TP of IDR90