Jasa Marga (JSMR IJ): Neutral impact from corporate action

Jasa Marga (JSMR IJ)
BUY / TP: IDR:5,330 (+49.3%)
Analyst: Chandra Pasaribu

Neutral impact from corporate action
• Buffers subsidiaries’ cash flow
• Neutral impact from tariff discount
• Tariff adjustment is on track
• Re-iterate BUY – TP IDR5,330