Perusahaan Gas Negara (PGAS IJ): Enjoying wider margins

Perusahaan Gas Negara (PGAS IJ)
BUY / TP: IDR:2,640 (+86.6%)
Analyst: Chandra Pasaribu

Enjoying wider margins
• Beating expectation
• Consolidated distribution margin is at US$1.94/BBTU
• Continuous overhang from arbitrage with Gunvor
• Re-iterate BUY