Pertamina Geothermal (PGEO IJ): Enjoys contribution from new capacity

Pertamina Geothermal (PGEO IJ)
BUY / TP: IDR:1,515 (+50.0 %)
Analyst: Chandra Pasaribu

Enjoys contribution from new capacity
• Within expectation
• Expects normalization in 2H26
• Capex spending was conservative
• Sound results – Re-iterate BUY with TP of IDR1,515