Indofood CBP (ICBP IJ): Asset may open up a world of earnings

Indofood CBP (ICBP IJ)
BUY / TP: IDR13,000 (+20.9%)
Analyst: Anindya Saraswati

Asset may open up a world of earnings
• To acquire Pinehill Group
• Aim to develop the Indomie brand name globally
• Re-iterate BUY call