Indofood CBP (ICBP IJ): Expects soft performance in FY2024
Indofood CBP (ICBP IJ)
BUY / TP: IDR:12,600 (+20.3%)
Analyst: Laras Nadira
Expects soft performance in FY2024
• Earnings in line
• Soft sales seen across all segments, except Dairy
• Margin to drag from possible rise in commodity prices
• Re-iterate BUY, lower TP