Jasa Marga (JSMR IJ): Sound toll-road operations

Jasa Marga (JSMR IJ)
BUY / TP: IDR:4,700 (+52.1%)
Analyst: Chandra Pasaribu

Sound toll-road operations
• Slightly better than expected
• Stronger balance sheet
• New toll roads and line up of tariff increase
• We trim our TP of 4,700 but re-iterate BUY