Jasa Marga (JSMR IJ): Core business driving moderate

Jasa Marga (JSMR IJ)
BUY / TP: IDR:4,200 (+41.4%)
Analyst: Chandra Pasaribu

Core business driving moderate growth
• In-line 1H26 result from organic growth
• Maintaining cost discipline
• Minor revision to reflect results and market price
• Remains attractive despite macro uncertainties – Re-iterate BUY