Pertamina Geothermal (PGEO IJ): Expansion on track

Pertamina Geothermal (PGEO IJ)
HOLD-OPF / TP: IDR:1,370 (+3.8%)
Analyst: Chandra Pasaribu

Expansion on track
• New capacity around the corner
• Opportunity from long term electricity plan
• Exploring diversification
• We downgrade to HOLD-OPF with a new TP of IDR1,370