Indocement (INTP IJ): Faces demand headwinds

Indocement (INTP IJ)
BUY / TP: IDR:6,500 (+28.1%)
Analyst: Chandra Pasaribu

Faces demand headwinds
• Behind expectation from seasonality
• Weak demand volume but with its outlook is improving
• Maintaining cost discipline and capex
• Undemanding valuation, BUY maintained