Indofood CBP (ICBP IJ): Price drove revenue growth in 1Q23

Indofood CBP (ICBP IJ)
BUY / TP: IDR:13,000 (+17.9%)
Analyst: Laras Nadira

Price drove revenue growth in 1Q23
• Earnings surpass our numbers
• Selling prices drove revenue growth
• Dairy continues to face headwinds
• Maintained our BUY with new TP