Corporate Updates

Indocement (INTP IJ): Slow demand recovery

Indocement (INTP IJ)
HOLD-OPF / TP: IDR:11,500 (+3.6%)
Analyst: Chandra Pasaribu

Slow demand recovery
• Below our estimates from higher opex
• Cost pressure to ease
• Earnings downgrade with new TP of IDR11,500
• Downgrade to HOLD-OPF

Corporate Updates

Indocement (INTP IJ): Slow demand recovery

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