Pertamina Geothermal (PGEO IJ): Volume driven growth

Pertamina Geothermal (PGEO IJ)
BUY / TP: IDR:1,390 (+46.3%)
Analyst: Chandra Pasaribu

Volume driven growth
• Above expectation from lower MESOP expenses
• Straight forward operating numbers
• Prioritizing five new projects
• Re-iterate BUY, with TP of IDR1,390