Indocement Tunggal Prakarsa (INTP IJ)
Analyst: Joshua Michael
SELL / TP: IDR14,900 (-26.6%)
Within expectation
• In-line net profit
• 7.4% YTD ASP/t increase in 1Q19
• Decreasing energy and raw material costs
• Improved logistics efficiency
• Maintain SELL with unchanged TP of 14,900