Corporate Updates
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