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Indocement (INTP IJ): Challenging results

Indocement (INTP IJ)
HOLD-OPF / TP: IDR:10,000 (+8.4%)
Analyst: Chandra Pasaribu

Challenging results
• Below expectation
• Cost hikes outweighed price rises
• Earnings downgraded to reflect tighter margins
• Maintain to Hold-OPF
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