Indocement (INTP IJ): Improves QoQ but feels headwinds

Indocement (INTP IJ)
HOLD-OPF / TP: IDR:6,440 (+3.5%)
Analyst: Chandra Pasaribu

Improves QoQ but feels headwinds
• Sees QoQ recovery
• Faces headwinds
• Competition remains stiff
• TP rolled over TP to FY2026 at IDR6,440 – HOLD OPF